Stock News in Focus: TELA Bio (NASDAQ:TELA)

TELA Bio (NASDAQ:TELA)  stock observed trading -9.17% off 52-week high price. On the other end, the stock has been noted 26.81% away from low price over the last 52-weeks. The stock disclosed a move of 10.81% away from 50 day moving average and 10.81% away from 200 day moving average. Moving closer, we can see that shares have been trading 10.11% off 20-day moving average. It has market cap of $163.49M.

On Jan. 10, 2020, TELA Bio (NASDAQ:TELA) a commercial stage medical technology company focused on designing, developing and marketing a new category of tissue reinforcement materials to address unmet needs in soft tissue reconstruction, reported unaudited preliminary revenue for the fourth quarter and full year 2019.

The company expects reported revenue for the fourth quarter of 2019 to be $4.7 million to $4.9 million, an increase of 94%-102% compared to $2.4 million in the fourth quarter of 2018. The company expects reported revenue for the full year of 2019 to be $15.3 million to $15.5 million, an increase of 85%-87% compared to $8.3 million for the full year of 2018. These strong results in the fourth quarter and full year 2019 were driven by expansion of the commercial organization, increased penetration within existing customer accounts, as well as the introduction of larger sizes of OviTex during 2019.

The Company expects reported cash, cash equivalents and short-term investments to be approximately $54.6 million at December 31, 2019.

I am pleased with our fourth quarter results as well as the progress we made in 2019 to drive adoption of our OviTex and OviTex PRS product lines, said Antony Koblish, co-founder, President and Chief Executive Officer of TELA Bio. We intend to build on this momentum in 2020 as we continue to expand our commercial team, focus on implementation of our GPO contracts, increase our marketing activities, and drive operational excellence.

The USA based company TELA Bio moved with change of 4.99% to $13.67 with the total traded volume of 95051 shares in recent session versus to an average volume of 102.33K. The stock was observed in the 5 days activity at 10.69%. The one month performance of stock was 14.68%. The average volatility for the week and month was at 8.80% and 6.63% respectively. There are 11.96M shares outstanding and 10.94M shares are floated in market.

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