Sientra surges as Allergan breast implant recall boosts Q3 sales

Project Sage Oldco

08/11/2019 15:39

** Breast implant-maker's shares  SIEN.O  rise 22% to $8.54
- set for their highest since May
    ** Co posts Q3 sales of $22.4 mln vs. est. $20.1 mln, helped
by demand for its breast implants and MiraDry, its product to
reduce underarm sweat
    ** Also announces streamlining initiative, which aims to
reduce expenses by ~$10 mln next year, and says it acquired an
FDA-approved silicone breast implant manufacturing facility in
Franklin, Wisconsin  urn:newsml:reuters.com:*:nGNX3GWYjp
    ** Craig Hallum analyst Alex Nowak says quarter demonstrates
"market share gains are there", adds reduction in expenses and
acquisition of facility should bring investors more comfort
    ** Also notes that recall of rival breast implant from
Allergan Plc  AGN.N , which was pulled from market in July over
cancer concerns, is helping boost sales of SIEN's products
    ** Up to Thursday's close, stock had fallen ~45% YTD

 (Reporting by Tamara Mathias in Bengaluru)
 ((Tamara.Mathias@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 1208;))