Revenues, Losses Increase For HeartWare
Revenues for Framingham-based medical device maker HeartWare International Inc. jumped 84 percent in the third quarter, but losses also rose about 34 percent.
The company lost $7.8 million, compared to $5.8 million last year. A tripling of research and development expenses contributed to the loss.
Despite the losses, the company said commercial expansion outside of the United States helped revenues grow from $7.5 million last year to $13.8 million this year.
The company's miniature implantable heart pumps have been approved for use in Europe but are still in clinical testing in America.
The company has about $93 million in cash on hand compared to just over $50 million it held at the end of last year, primarily because of an initial public offering the company made in February.
WBJ Web Partners
Most Recent
Most Recent
0 Comments