Sientra Surges 20% After No One Paid Attention To New Regulatory Clearance
Shares of Sientra Inc (NASDAQ: SIEN) surged higher by more than 20 percent early Wednesday afternoon as traders were passing along a note which claimed the company regained regulatory clearance for Silimed, one of Sientra's contract manufacturers, by Brazilian regulators.
Sientra announced on October 5, 2015, that Brazilian regulators temporarily suspended the manufacturing of all medical devices that Silimed produces, including products manufactured for Sientra.
The note that traders were passing around appears to be consistent with a press release issued by the Brazilian regulators on January 27. In the press release, Silimed was approved and authorized to resume marketing of its breast implants products.
Silimed has not released an 8-K regulatory filing, nor has it issued a press release. It appears no news service had picked up the release between January 27 and today.
Benzinga contacted Sientra and has not yet received a response.
Shares of Sientra recently traded at $8.75, up 10 percent.
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