Tela Bio, Inc. Provides Earnings Guidance for the Fourth Quarter of 2019
January 10, 2020 at 07:00 am
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TELA Bio, Inc. provided earnings guidance for the fourth quarter of 2019. For the quarter, the company expects revenue to be $4.7 million to $4.9 million, an increase of 94%-102% compared to $2.4 million in the fourth quarter of 2018. The company expects reported revenue for the full year of 2019 to be $15.3 million to $15.5 million, an increase of 85%-87% compared to $8.3 million for the full year of 2018. These strong results in the fourth quarter and full year 2019 were driven by expansion of the commercial organization, increased penetration within existing customer accounts, as well as the introduction of larger sizes of OviTex during 2019.
TELA Bio, Inc. is a commercial-stage medical technology company. The Company is focused on providing soft-tissue reconstruction solutions that optimize clinical outcomes by prioritizing the preservation and restoration of the patientâs own anatomy. Its first portfolio of products, the OviTex Reinforced Tissue Matrix (OviTex), addresses unmet needs in hernia repair and abdominal wall reconstruction. Its OviTex portfolio consists of multiple product configurations intended to address various surgical procedures within hernia repair and abdominal wall reconstruction, including ventral, inguinal, and hiatal hernia repair. The Company's OviTex products include OviTex 1S, OviTex 2S, and OviTex LPR. Its second portfolio of products, the OviTex PRS Reinforced Tissue Matrix (OviTex PRS), addresses unmet needs in plastic and reconstructive surgery. OviTex PRS is indicated for use in implantation to reinforce soft tissue where weakness exists in patients requiring soft-tissue repair.
TELA BIO, INC. 
