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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.
Company news commonly covers quarterly and annual results, revenue guidance, commercial execution, product portfolio updates, credit and capital actions, board and leadership changes, and equity compensation grants made under Nasdaq inducement-grant rules.
TELA Bio, Inc. (TELA) reported a revenue of $3.7 million for Q1 2020, up 13% year-over-year. The company noted a 0% hernia recurrence rate in a completed 20-patient follow-up within its BRAVO Study. However, revenues were negatively impacted due to deferred elective surgical procedures amid the COVID-19 pandemic. Operating expenses rose to $8.7 million, leading to a net loss of $7.2 million. TELA is adapting with virtual selling strategies while suspending its full-year revenue guidance due to ongoing uncertainties amid the pandemic.