Tela Bio reports Q3 EPS (64c), consensus (63c)

Reports Q3 revenue $11.2M, consensus $10.86M. "We are very pleased to report another consecutive quarter of strong revenue growth and increased market adoption of our OviTex products despite lingering headwinds from COVID-19 affecting hospital staffing and procedure volumes. We anticipate a steady return to more customary procedure volumes as the impact of COVID-19 continues to subside. Furthermore, we expect the recently published favorable OviTex clinical data and growing market access through our recent GPO and Integrated Delivery Network contracts to be important growth drivers going forward. Additionally, following the close of our recent oversubscribed public offering in August that yielded net proceeds of $34.4 million, we believe we are now even better positioned to accelerate expansion of our sales force and advance our business development initiatives and R&D programs as we seek to expand our product portfolio and its broad uptake," said Antony Koblish, co-founder, President and CEO of TELA Bio.