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Sientra, Inc. (NASDAQ: SIEN) announced the release of its third quarter 2022 financial results, set to take place after market closure on November 10, 2022. A conference call to discuss these results will follow at 4:30 p.m. ET. The company focuses on medical aesthetics and offers innovative plastic surgery products, including the FDA-approved fifth-generation breast implants and the Allox2® tissue expander. Interested parties can access the conference call via dial-in or webcast.
Sientra, Inc. (NASDAQ: SIEN) has priced its public offering of 34,782,600 shares of common stock and accompanying warrants at $0.38 per unit, aiming to raise approximately $13.2 million before expenses. Each unit consists of one share and one warrant with an exercise price of $0.46, exercisable immediately for five years. The offering is scheduled to close around October 25, 2022, pending customary conditions. Additionally, the underwriter has a 30-day option for 5,217,390 more shares. Proceeds will support general working capital.
Sientra, Inc. (NASDAQ: SIEN) announced an intention to conduct an underwritten public offering of common stock, which will include warrants for additional shares. Craig-Hallum Capital Group is the managing underwriter, and the offering is subject to market conditions. The net proceeds will be utilized for general working capital purposes. A shelf registration statement has been effective since May 27, 2022. The offering's specifics will be provided in a prospectus filed with the SEC, with no assurance on the completion timeline.
Sientra anticipates third quarter net sales of $21.5-$22.5 million, reflecting a 10-15% increase year-over-year. The company is maintaining its full-year revenue guidance of $90-95 million. A recent refinancing agreement with Deerfield Management has improved Sientra's balance sheet, reducing total debt by approximately $10 million to $73 million. Enhanced financial flexibility is expected to support growth and market expansion, particularly with upcoming product launches in 2023.
Sientra has launched initiatives for Breast Cancer Awareness Month, partnering with actress and survivor Miranda McKeon to promote breast reconstruction options. McKeon emphasizes the importance of education and research in making treatment choices. Additionally, Sientra collaborates with the Brem Foundation to launch Sientra Supports, encouraging the donation of pre-surgery bras to low-income women. The company aims to enhance awareness about reconstruction options and support women diagnosed with invasive breast cancer, aligning with their commitment to community health.
Sientra, Inc. (NASDAQ: SIEN) has gained approval from the Saudi Food & Drug Authority to market its High-Strength Cohesive silicone gel breast implants in Saudi Arabia. This marks a significant step in Sientra's international expansion efforts into the GCC and Middle East. Partnering with Rose Aljazera, a leading distributor in the region, the company aims to address unmet needs in aesthetic surgery. CEO Ron Menezes emphasized Saudi Arabia's role as a pivotal launchpad for growth, reflecting Sientra's commitment to innovation and safety in medical aesthetics.
Sientra, Inc. (NASDAQ:SIEN) announced on September 6, 2022, the approval of equity award grants to 49 new employees under its Inducement Plan. These grants consist of 1,182,029 restricted stock units that will vest over time, contingent upon continued employment. The grants serve as a material component of the employees' compensation and were approved by the Compensation Committee in accordance with NASDAQ Rule 5635(c)(4). Sientra focuses on innovative products in medical aesthetics, particularly in plastic surgery, and is committed to enhancing the industry through technology.
Sientra, Inc. (NASDAQ: SIEN) reported Q2 2022 financial results, achieving net sales of $21.5 million, a 7% increase year-over-year, driven by 23% growth in reconstruction. Year-to-date sales rose 12% to $42.9 million. Gross margins improved to 59.2% from 56% in Q2 2021. Despite operational challenges, Sientra added nearly 300 new accounts and launched the Dermaspan tissue expander. They revised revenue guidance for 2022 to $90-$95 million due to macroeconomic headwinds affecting consumer spending.
Sientra, Inc. (NASDAQ: SIEN) announced it will release its financial results for Q2 2022 on August 11, 2022, after market close. A conference call will follow at 4:30 p.m. ET to discuss these results. Information regarding the call can be found on Sientra's investor relations website. The Company, headquartered in Santa Barbara, focuses on medical aesthetics, offering innovative products, including FDA-approved breast implants and advanced surgical systems.
