Harvard Bio spinoff reports mixed Q1 results
Fueled by an increase in stock-based compensation related to the company’s spin-off from Harvard Bioscience last November, Holliston-based Harvard Apparatus Regenerative Technology, Inc. (HART) reported a net loss for the quarter of $3 million, or 39 cents per share; an increase from $2 million from for the same period in 2013.
HART, which makes regenerated organs for the human body, did have positive news on the sales front, reporting first-quarter sales of $23,000 from its bioreactor systems for organ regeneration research, a number it did not report prior to being spun off, the company said.
The company also said it met with the U.S. Food and Drug Administration during the quarter to discuss it’s new HART-Trachea product, which is intended to replace or repair a severely damaged trachea and expects to propose a clinical trial this year. The company predicts a $770 million market for the HART-Trachea product.
WBJ Web Partners
Most Recent
Most Recent
0 Comments