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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. announced the pricing of its underwritten public offering of 3,000,000 shares at $16.00 per share, aiming for gross proceeds of $48 million. The offering includes a 30-day option for underwriters to purchase an additional 450,000 shares. This offering is expected to close on June 30, 2020, pending customary conditions. Jefferies LLC and Piper Sandler & Co. are the book-running managers. TELA focuses on innovative tissue reinforcement materials for soft tissue reconstruction. The registration statement has been effective since June 25, 2020.
TELA Bio, Inc. (TELA) has announced a proposed underwritten public offering of 3,000,000 shares of its common stock, with an option for underwriters to purchase an additional 450,000 shares. The offering is subject to market conditions, and completion is uncertain. Jefferies LLC and Piper Sandler & Co. serve as joint book-running managers. A registration statement was filed with the SEC, but has not yet become effective, meaning sales cannot occur until it does. TELA aims to address unmet needs in soft tissue reconstruction with its innovative materials.
TELA Bio, Inc. (Nasdaq: TELA) announced its inclusion in the Russell 2000 Index, effective June 26, 2020. This milestone reflects TELA's growth trajectory in the medical technology sector, focusing on tissue reinforcement materials for soft tissue reconstruction. The company aims to enhance visibility among institutional investors, leveraging the approximately $9 trillion in assets that benchmark against the Russell U.S. Indices. CEO Tony Koblish emphasized this achievement as a sign of their operational and financial growth initiatives.
TELA Bio, Inc. (NASDAQ: TELA) announced two abstracts accepted for poster presentations at the virtual 20th Minimally Invasive Surgery Symposium (MISS) from June 9 to June 24, 2020. The presentations focus on the efficacy of OviTex® products in ventral hernia repair. One study reported low surgical site occurrence (SSO) and recurrence rates among patients, while another documented successful outcomes in a challenging patient population. TELA emphasizes OviTex's advantages over permanent synthetic materials, enhancing its value in soft tissue reconstruction.
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.