Unveils Sientra Platinum20™ Best in Class
Warranty Program for OPUS Breast Implants
Sientra, Inc. (NASDAQ:SIEN) (“Sientra” or the “Company”), a medical
aesthetics company, today announced its participation at the 2018
Aesthetic Meeting being held at the Jacob K. Javits Convention
Center in New York from April 26 – May 1. The Company will be
showcasing both its OPUS branded breast products (booth #405) and
new miraDry fresh™ procedure which reduces underarm sweat, odor and
hair (booth #249). The Company also unveiled its new,
best-in-category Sientra Platinum20™ Product Replacement and
Limited Warranty Program for the OPUS line of silicone gel breast
implants – the only brand of silicone gel breast implants sold
exclusively to board-certified and board-eligible plastic surgeons.
Additionally, the Company announced preliminary unaudited net sales
for the first quarter 2018 of approximately $14.5 million.
Jeffrey M. Nugent, Chairman and Chief Executive
Officer of Sientra, commented, “Sientra Platinum20 demonstrates
Sientra’s confidence and conviction in the safety and performance
of OPUS branded products, which are backed by superior long term
clinical data, and are now manufactured exclusively in the United
States. The OPUS line represents our commitment to be
different by design, to drive thoughtful innovation, and to provide
safe, best-in-class products that improve outcomes and change
lives. Designed to stand behind the robust and unrivaled
safety and clinical data from Sientra’s 10-year FDA-clinical study,
Sientra Platinum20 is the most comprehensive warranty program in
the industry.”
The Sientra Platinum20 Program will be available
only to patients of board-certified and board-eligible plastic
surgeons and will cover all eligible primary and revision
augmentation and reconstruction patients with any style and size of
Sientra OPUS breast implants for the replacement. The Sientra
Platinum20 Warranty Program provides superior benefits than what
are available under competitive breast implant warranty programs in
the United States. Complete details on the Sientra Platinum20
Product Replacement and Limited Warranty Program terms &
conditions can be found on Sientra’s website at
www.sientra.com/resources.
Mr. Nugent added, “Sientra OPUS and our
Platinum20 Program clearly demonstrate our commitment to the breast
implant category and to our board-certified and board-eligible
plastic surgeons customers and their patients, while validating our
confidence in the quality and safety of Sientra’s products.
Our resolve to our plastic surgeon partners is stronger than
ever, as is our focus on providing best-in-class products, and
safety and protection for patients undergoing aesthetic or
reconstructive breast surgery.”
Mr. Nugent concluded, “Over the past two and a
half years, we have been focused on getting our supply of Sientra
breast implants back to full scale to meet customer demand while
also diversifying our product portfolio. We have made steady
and significant progress on both of these fronts: first, with our
acquisition of the miraDry® business last year, and second with
last week’s announcement of the FDA approval, we can begin
commercializing our breast implants. Our move to become a
more diversified global aesthetic company is evident in our most
recent preliminary unaudited first quarter 2018 net sales results
which were the highest in Sientra’s history. In the first
quarter 2018, we continued to successfully manage our breast
implant inventory levels and physician customer expectations while
also continuing the positive momentum with our tissue expander
products and driving record sales of our BIOCORNEUM® scar
management product. We also made significant progress in the
execution of our miraDry strategy with the segment growing
substantially in both U.S. and international markets. We
believe we can continue to grow the miraDry segment throughout 2018
and beyond as our newly expanded global sales force continues the
launch of the new miraDry fresh protocol and gains further traction
in the field.”
First Quarter 2018 Preliminary Net
Sales
The quarterly financial estimates included in
this release are prior to the completion of review procedures by
Sientra’s external auditors and are therefore subject to
adjustment.
Sientra anticipates total net sales for the
first quarter 2018 to be approximately $14.5 million, compared to
total net sales for the first quarter 2017 of $7.5 million.
First quarter 2018 net sales expectations include anticipated
segmented Breast Product net sales of $8.5 million and miraDry net
sales of $6.0 million. First quarter 2017 net sales only
includes Breast Products as the miraDry acquisition was completed
in the third quarter 2017.
The company also expects net cash and cash
equivalents as of March 31, 2018 to be approximately $16.0 million
compared to $26.6 million as of December 31, 2017.
About Sientra
Headquartered in Santa Barbara, California,
Sientra is a medical aesthetics company committed to making a
difference in patients’ lives by enhancing their body image,
growing their self-esteem and restoring their confidence. The
Company was founded to provide greater choice to board-certified
plastic surgeons and patients in need of medical aesthetics
products. The Company has developed a broad portfolio of products
with technologically differentiated characteristics, supported by
independent laboratory testing and strong clinical trial outcomes.
The Company sells its OPUS™ brand of breast implants and breast
tissue expanders exclusively to board-certified and
board-admissible plastic surgeons and tailors its customer service
offerings to their specific needs. The Company also offers a
range of other aesthetic and specialty products including
BIOCORNEUM®, the professional choice in scar management, and
miraDry®, the only FDA-cleared device to reduce underarm sweat,
odor and permanently reduce hair of all colors.
Forward Looking StatementsThis
press release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended,
based on management’s current assumptions and expectations of
future events and trends, which affect or may affect the Company’s
business, strategy, operations or financial performance, and actual
results may differ materially from those expressed or implied in
such statements due to numerous risks and uncertainties.
Forward-looking statements include, but are not limited to,
statements regarding the Company’s expected net sales for the
quarter ended, and its net cash and cash equivalents as of, March
31, 2018, the Company’s ability to regain share in the U.S. breast
implant market, the Company’s ability to meet customer demand, the
expected growth of the Company’s current customer base and
acquisition of new customers, the Company’s ability to deliver
value and become a world class, diversified aesthetics
organization, and the Company’s ability to finance its near and
long-term strategic growth initiatives. Such statements are subject
to risks and uncertainties, including the dependence on conclusion
of review procedures for the quarter ended March 31, 2018 by the
Company’s independent auditors, positive reaction from plastic
surgeons and their patients to Sientra’s breast products, risks
associated with contracting with any third-party manufacturer and
supplier, including uncertainties that such parties will be able to
meet consumer demand, that the integration of recently acquired
product lines will not achieve the anticipated benefits, and the
ability to obtain additional capital on acceptable terms.
Additional factors that could cause actual results to differ
materially from those contemplated in this press release can be
found in the Risk Factors section of Sientra’s Annual Report on
Form 10-K for the year ended December 31, 2017. All
statements other than statements of historical fact are
forward-looking statements. The words ‘‘believe,’’ ‘‘may,’’
‘‘might,’’ ‘‘could,’’ ‘‘will,’’ ‘‘aim,’’ ‘‘estimate,’’
‘‘continue,’’ ‘‘anticipate,’’ ‘‘intend,’’ ‘‘expect,’’ ‘‘plan,’’ or
the negative of those terms, and similar expressions that convey
uncertainty of future events or outcomes are intended to identify
estimates, projections and other forward-looking statements.
Estimates, projections and other forward-looking statements speak
only as of the date they were made, and, except to the extent
required by law, the Company undertakes no obligation to update or
review any estimate, projection or forward-looking statement.
Investor Contacts:
Patrick F. WilliamsSientra, Chief Financial
Officer (619) 675-1047patrick.williams@sientra.com
Tram Bui / Brian JohnstonThe Ruth Group(646)
536-7035 / (646) 536-7028IR@sientra.com
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