Tuesday, June 25, 2024

Sientra stock rockets ~75% after hours on FDA approval for tissue expander

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  • Shares of micro-cap Sientra (NASDAQ:SIEN) on Thursday soared nearly 75% in extended trading, after the breast implant maker got a U.S. Food and Drug Administration (FDA) medical device approval for its tissue expander.
  • SIEN stock was up 74.7% to $3.04 after hours.
  • The company said it had received a so-called 510(k) clearance for its AlloX2 Pro Tissue Expander.
  • The AlloX2 Pro product removes 95% of the metal traditionally associated with tissue expander ports, thus making it compatible with magnetic resonance imaging (MRI), SIEN said.
  • According to SIEN, the product was the only tissue expander cleared in the U.S. for exposure to MRI, which is an important screening tool for breast reconstruction patients.

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