Breast-Implant Maker Sientra Files Bankruptcy After Consumer Pullback [BNN Bloomberg (Canada)]
Sientra, Inc. (SIEN)
Last sientra, inc. earnings: 3/11 04:05 pm
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US:NASDAQ Investor Relations:
investors.sientra.com/overview/default.aspx
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Source: BNN Bloomberg
The Irvine, California-based company plans to use the Chapter 11 process to sell itself and has garnered interest from multiple parties, according to a statement. It also said it received $22.5 million of new financing to help fund itself through the bankruptcy process. The company listed estimated assets and liabilities of between $100 million and $500 million each in its bankruptcy petition. Sientra began to struggle when the Covid-19 pandemic first took hold in the US and many elective surgeries were restricted or canceled, Chief Executive Officer Ron Menezes wrote in court papers. Later, a “Zoom Boom” in demand for plastic surgery procedures helped Sientra recover, but consumers later pulled back spending amid economic uncertainty. The company also dealt with high turnover among its sales team and problems with implant manufacturing, Menezes wrote. As Sientra racked up losses, it began exploring options to sell itself but “determined that viable transaction was not possible
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SIEN
News
- Sientra, Inc. (NASDAQ: SIEN) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Sientra, Inc. (NASDAQ: SIEN) is now covered by analysts at StockNews.com. They set a "hold" rating on the stock.MarketBeat
- Implant Maker Sientra Cleared to Draw Deerfield Bankruptcy Loan [BNN Bloomberg (Canada)]BNN Bloomberg
- Health Care Limits Losses Amid Defensive Bias -- Health Care Roundup [MarketWatch]MarketWatch
- Sientra drops on filing of voluntary Chapter 11 Bankruptcy [Seeking Alpha]Seeking Alpha
SIEN
Earnings
- 11/9/23 - Miss
SIEN
Sec Filings
- 2/20/24 - Form SC
- 2/16/24 - Form 8-K
- 2/13/24 - Form 8-K
- SIEN's page on the SEC website