HART posts loss, begins Mayo Clinic studies
Holliston-based Harvard Apparatus Regenerative Technology (HART) announced a fourth quarter loss as it continued to drive its organ replacement technology to market through large-animal studies being done at the Mayo Clinic.
The 17 cent per share loss in the company’s fourth quarter, culminating in a total loss of $2.3 million, represented a decline from the fourth quarter 2014 loss of $2.8 million. This was in part due to a $200,000 year-over-year decrease in payroll-related costs as the company re-organized its research strategy, according to company officials.
The company’s overall loss for 2015 was $11.7 million, or $1.05 per share. While this was a little more than the $11.1 million loss during the previous fiscal year, the loss per share was actually down significantly from $1.45.
Company officials also highlighted large-animal surgeries through a Mayo Clinic collaboration that began in late January. An initial update on that is anticipated during the second quarter 2016. In 2015, the company announced positive animal health data in remodeling and regeneration of the esophagus, trachea and bronchus.
WBJ Web Partners
Most Recent
Most Recent
0 Comments