TELA Bio, Inc. develops and commercializes soft-tissue reconstruction solutions for surgeons, with a focus on products designed to preserve and restore patient anatomy while limiting long-term exposure to permanent synthetic materials. Its OviTex portfolio includes configurations used in hernia repair and abdominal wall reconstruction, including ventral, inguinal and hiatal procedures.
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TELA Bio, a commercial-stage medical technology company, announced its participation in two investor conferences in August 2022. The management will present virtually at the Needham Med Tech & Diagnostics 1x1 Conference on August 15 and at the Canaccord Annual Growth Conference on August 11 at 2:00 PM ET. The company focuses on innovative soft-tissue reconstruction solutions, emphasizing patient anatomy preservation. Live webcasts of the presentations will be available on their official site.
TELA Bio, a commercial-stage medical technology company, shared promising results from two studies focusing on its OviTex Reinforced Tissue Matrix. The BRAVO study reported a 2.6% recurrence rate for ventral hernias after 24 months, while the ReBAR study indicated a 1.9% recurrence rate for inguinal hernias over the same period. Both studies demonstrate OviTex's effectiveness in enhancing surgical outcomes and quality of life. Results will be presented at the 2022 American Hernia Society Meeting in September.
Tela Bio, Inc. (NASDAQ: TELA) announced the approval of stock options for 25 new employees, totaling 58,075 shares. The options, exercisable at $8.00 per share, are part of their employment compensation and were issued on July 26, 2022. With a vesting period of four years, 25% will vest after the first year, while the remaining shares will vest monthly over the next three years. This move aims to attract talent within the company's focus on innovative soft-tissue reconstruction solutions that optimize patient outcomes.
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.