Sientra up on sales forecast, financing to improve balance sheet

Project Sage Oldco

12/10/2022 17:25

** Shares of medical aesthetics co Sientra Inc  SIEN.O  rise
5.9% to $0.78 
    ** Co expects total Q3 net sales to be about $21.5 mln-$22.5
mln, an increase of about 10%-15% vs last year urn:newsml:reuters.com:*:nGNX1ZZq2n 
    ** SIEN also says it has entered into a  financing
arrangement with a fund managed by Deerfield Management to
improve its balance sheet 
    ** Says through the financing, it has reduced its total debt
load by about $10 mln to $73 mln
    ** Expects net cash and cash equivalents at the end of Q3 to
be about $19 mln; keeps full-year revenue guidance unchanged
    ** All 6 brokerages covering the stock rate "buy" or higher;
their median PT is $3 - Refinitiv data
    ** Including session's gain, stock still down 78.8% YTD
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com;))