Cambridge Heart Inc. (OTC:CAMH) is looking to tap the micro-cap investment sector, hiring an outside firm to tout its cardiac disease testing technology.
The Tewksbury, Mass.-based firm said it tapped Wolfe Axelrod Weinberger Associates as its investor relations agency, effective immediately.
“Over the past year, Cambridge Heart has attained many of its strategic goals and is poised for significant growth in 2011 and beyond,” president and CEO Ali Haghighi-Mood said in prepared remarks, noting its new IR firm’s reach into the micro-cap sector and its experience with “emerging” medical device makers.
CAMH reported third-quarter losses of $1.1 million, or 2 cents per diluted share, on revenue of $792,734 during the three months ended Sept. 30, 2010. That compares with a loss of $1.7 million, or 3 cents per diluted share, on sales of $798,345 during the same period in 2009.
The company’s shares were down more than 11 percent to 24 cents in mid-morning trading.