The Waltham, Mass.-based company posted losses of $9.9 million, or 7¢, on sales of $777,000 for the 3 months ended March 31, seeing losses grow 29.6% while sales shrunk 29.9% compared with the same period last year.
Losses per share for the quarter were 2¢ greater than the 5¢ consensus on Wall Street.
“We achieved many accomplishments in the first quarter as we position Corindus for global success in bringing robotics to the cardiology sector. The receipt of several multi-system orders in the U.S., our broad expansion into Asia, and first commercial cases using the CorPath GRX System at prestigious U.S. hospitals demonstrate meaningful progress toward our strategic and commercial objectives. With additional capital raised in the quarter, we are excited to accelerate our momentum into 2017,” prez & CEO Mark Toland said in a press release.
Corindus updated its guidance for the full 2017 fiscal year, looking to see revenue between $13 and $15 million.
Shares in Corindus have dropped 5% so far today, down 6¢ at $1.21 as of 12:33 p.m. EDT.