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TELA Bio, Inc. (NASDAQ: TELA) is a pioneering medical technology company based in Malvern, Pennsylvania, dedicated to transforming the field of soft tissue reconstruction. With a mission to provide advanced, cost-effective solutions, TELA Bio focuses on enhancing clinical outcomes by prioritizing the preservation and restoration of a patient's own anatomy.
The company offers two primary product lines: OviTex and OviTex PRS Reinforced Tissue Matrices. These products are designed to improve clinical outcomes and reduce costs in hernia repair, abdominal wall reconstruction, and plastic and reconstructive surgery. OviTex, a reinforced tissue matrix, leverages the body's natural healing response while minimizing long-term exposure to synthetic materials.
In recent developments, TELA Bio has launched LIQUIFIX, the first approved adhesive-based product for affixing mesh without penetrating patient tissue. This innovation underscores TELA Bio's commitment to providing surgeons with cutting-edge, economically viable solutions that align with modern clinical practices.
Financially, TELA Bio is experiencing significant growth. For the first quarter of 2024, the company reported a revenue increase of 39% year-over-year, reaching $16.6 million. This growth is attributed to a mature sales force, strategic product launches, and an expanding customer base. Despite operational losses, the company achieved a notable decrease in net loss, demonstrating improved financial management and operational efficiency.
Moreover, TELA Bio actively collaborates with leading surgeons to continuously innovate and address the unmet needs in soft tissue repair. The company's partnership with experts ensures that its products meet the highest standards of efficacy and safety.
For the latest updates, TELA Bio frequently hosts earnings conference calls and webcasts, providing valuable insights into its financial performance and strategic initiatives. Investors and stakeholders can access these resources via the investor section of the company's website.
In summary, TELA Bio, Inc. is a dynamic and forward-looking company poised to make significant advancements in medical technology. By combining innovation with practical solutions, TELA Bio aims to reinvigorate the soft tissue reconstruction market and provide substantial benefits to hospitals, surgeons, and patients alike.
TELA Bio, Inc. (NASDAQ: TELA), a medical technology company, will announce its second quarter 2022 financial results on August 10, 2022. Following the report, management will host a conference call and webcast at 4:30 p.m. ET to discuss the results and provide an update on corporate activities. TELA focuses on innovative soft-tissue reconstruction solutions that enhance clinical outcomes by utilizing the patient’s own anatomy. For more details, visit TELA's website.
TELA Bio, Inc. (NASDAQ: TELA) announced a group purchasing agreement with Premier, Inc. for its Synthetic Bioabsorbable Mesh Products, effective October 1, 2022. This agreement enables approximately 4,400 U.S. hospitals and 225,000 providers to access special pricing on TELA's OviTex® and OviTex PRS Reinforced Tissue Matrix products, which focus on innovative soft-tissue reconstruction solutions. TELA's President, Antony Koblish, emphasized the significance of this agreement in enhancing access to advanced surgical solutions for surgeons and patients.
TELA Bio, Inc. has announced its participation in the JMP Securities Life Sciences Conference on June 16, 2022, at 11:00 am ET. The company, which focuses on innovative soft-tissue reconstruction solutions, aims to optimize clinical outcomes by preserving and restoring the patient's own anatomy. Interested parties can access a live and archived webcast of the presentation through TELA's investor relations page. TELA Bio is dedicated to providing advanced, cost-effective solutions that minimize long-term exposure to synthetic materials, enhancing natural healing.
TELA Bio, Inc. (NASDAQ: TELA) announced a new credit facility with MidCap Financial, granting access to $50 million in total credit. This includes $40 million received at closing and an additional $10 million available under specific conditions. The new facility allows TELA to repay a previous $30 million debt, enhancing financial flexibility with minimal further capital needed. The facility matures on May 1, 2027, and carries an interest rate of 6.25% plus SOFR. TELA aims to bolster its business objectives and growth initiatives using these funds.
MALVERN, Pa., May 26, 2022 – TELA Bio, Inc. (TELA), a commercial-stage medical technology company, announced its participation in the Jefferies Healthcare Conference on June 8, 2022. The management of TELA is set to present at 4:30 PM ET, and the live webcast can be accessed at their official site. TELA is dedicated to innovative soft-tissue reconstruction solutions that enhance clinical outcomes while preserving the patient's anatomy. The company aims to provide surgeons with economically effective technologies that utilize the natural healing process.
TELA Bio reported a 40% revenue growth in Q1 2022, totaling $8.2 million, driven by increased demand for OviTex products. OviTex PRS sales surged by 111%. The company maintains a gross profit of $5.0 million, with a gross margin of 61%. However, operating expenses rose to $14.8 million, leading to a net loss of $10.9 million. Despite challenges from COVID-19, TELA projects full-year revenue between $40 million to $45 million, a 36% to 53% increase over 2021.
MALVERN, Pa., May 09, 2022 – TELA Bio, Inc. (NASDAQ: TELA), a medical technology company, will participate in the 2022 H.C. Wainwright Annual Global Investment Conference on May 24, 2022. The company focuses on innovative soft-tissue reconstruction solutions that enhance clinical outcomes by preserving patients' anatomy. Management will present virtually at 7 am ET, with a live and archived webcast available on their investor relations website.
TELA Bio, Inc. (NASDAQ: TELA) announced the approval of stock options for 13 newly-hired employees, totaling 50,950 shares. The options, with an exercise price of $9.00 per share, were granted on April 27, 2022, under Nasdaq Rule 5635(c)(4) as part of their employment compensation. The options will vest over four years, with 25% vesting after one year and the remainder in monthly installments. The company's focus is on innovative soft-tissue reconstruction solutions that optimize clinical outcomes by preserving the patient's anatomy.
TELA Bio, Inc. (NASDAQ: TELA) announced it will report its first quarter 2022 financial results on May 10, 2022, at 4:30 p.m. ET. The call will provide insights into the company’s performance in soft-tissue reconstruction solutions that prioritize patient anatomy restoration. Interested parties can access the conference by dialing specific numbers for U.S./Canada and international participants, or via the company's investor website. TELA emphasizes its commitment to innovative, economically effective healthcare solutions while cautioning that forward-looking statements carry inherent risks.
TELA Bio, Inc. announced the hiring of D. Taylor Ocasio as the new General Counsel. With nearly ten years in corporate law and healthcare, Ocasio previously served as Deputy General Counsel at Zynerba Pharmaceuticals and held positions at Catalent Pharma Solutions and prominent law firms. CEO Antony Koblish expressed confidence in Ocasio's extensive knowledge in life sciences and corporate securities, highlighting his potential contributions to TELA's growth. TELA focuses on innovative soft-tissue reconstruction solutions that enhance clinical outcomes by preserving the patient's anatomy.
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