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Sientra, Inc. - $SIEN STOCK NEWS

Welcome to our dedicated page for Sientra news (Ticker: $SIEN), a resource for investors and traders seeking the latest updates and insights on Sientra stock.

Sientra, Inc. (NASDAQ: SIEN) is a surgical aesthetics company headquartered in Irvine, California. The company is dedicated to developing innovative and safe solutions aimed at achieving the best aesthetic outcomes. Sientra's diverse product portfolio includes round and shaped breast implants, the first fifth-generation breast implants approved by the FDA for sale in the United States, and the groundbreaking AlloX2® breast tissue expander with patented dual-port and integral drain technology. The company also offers the next-generation AlloX2Pro™, the first and only FDA-cleared MRI-compatible tissue expander, the Viality™ with AuraClens™ enhanced viability fat transfer system, and the SimpliDerm® Human Acellular Dermal Matrix. One of the flagship products in its lineup is BIOCORNEUM, the top-performing and most recommended scar gel by plastic surgeons.

In recent developments, Sientra has reported substantial progress toward sustainable and profitable growth. The second quarter of 2023 marked the twelfth consecutive quarter of year-over-year revenue growth, largely driven by strong performance in reconstruction and despite a decline in elective cash pay aesthetics procedures. New products like Viality™ and SimpliDerm® have received positive feedback and are expected to boost the company's long-term growth and solidify its leading position in the reconstruction market.

The company's financial condition has shown improvement, with effective measures in place to reduce operating expenses. Total net sales for the full year 2023 are expected to be between $98 million to $102 million, reflecting an annual growth rate of 8% to 13%. Sientra's operating spend is forecasted to be significantly lower, demonstrating the firm's commitment to long-term profitability. Despite some market softness in the augmentation segment, Sientra remains focused on enhancing its financial footing and strategic partnerships.

One of the significant steps taken by Sientra to ensure operational continuity during its Chapter 11 proceedings is securing $22.5 million in debtor-in-possession financing from existing lenders. This fund will support ongoing operations during the sale process, aiming for increased financial stability and long-term success under new ownership. The company has also announced a definitive agreement with Tiger Aesthetics Medical, LLC and Nuance Intermediary, LLC for the sale of its breast reconstruction and BIOCORNEUM businesses, respectively.

Sientra continues to use its investor relations website as a primary source for disseminating important information, ensuring transparency and accessibility for investors. To learn more about Sientra, visit their website and follow them on LinkedIn, Instagram, and Facebook.

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FAQ

What does Sientra, Inc. specialize in?

Sientra specializes in surgical aesthetics, focusing on products such as breast implants, tissue expanders, and fat transfer systems.

Where is Sientra headquartered?

Sientra is headquartered in Irvine, California.

What are some of Sientra's key products?

Key products include round and shaped breast implants, AlloX2® breast tissue expanders, Viality™ fat transfer systems, and SimpliDerm® Human Acellular Dermal Matrix.

How did Sientra perform financially in the second quarter of 2023?

Sientra reported its twelfth consecutive quarter of year-over-year revenue growth, driven by strong performance in reconstruction despite softness in the augmentation segment.

What recent product launches has Sientra introduced?

Recent launches include Viality™, the only system designed for enhanced viability fat transfer, and SimpliDerm®, an innovative acellular dermal matrix for soft tissue repair.

How is Sientra addressing its financial challenges?

Sientra has secured $22.5 million in debtor-in-possession financing to support ongoing operations during the sale process, aiming for increased financial stability.

What strategic sales has Sientra recently announced?

Sientra has announced agreements with Tiger Aesthetics Medical, LLC for its breast reconstruction business and Nuance Intermediary, LLC for its BIOCORNEUM business.

What is Sientra’s outlook for the full year 2023?

Sientra expects total net sales between $98 million to $102 million and has revised its operating spend forecasts to reflect significant cost reductions.

How does Sientra ensure product safety and efficacy?

Sientra backs its products with unrivaled clinical and safety data, ensuring top-tier performance and reliability.

How can investors stay updated on Sientra’s latest developments?

Investors can visit Sientra’s investor relations website for the latest updates and follow the company on LinkedIn, Instagram, and Facebook.

Sientra, Inc.

Nasdaq:SIEN

SIEN Rankings

SIEN Stock Data

2.08M
11.05M
9.61%
17.04%
10.94%
Surgical and Medical Instrument Manufacturing
Manufacturing
Link
United States
Santa Barbara