Echo Therapeutics Inc.’s (OTC:ECTE) grew more than three fold in Q2 as the company poured money into research & development and administrative expenses.
Losses for the quarter widened 262 percent to $1.9 million, or a loss of 6 cents per diluted share, during the three months ended June 30, compared to losses of $536,000, or 2 cents lost per diluted share, during the same period last year.
The Philadelphia-based drug-delivery systems maker posted a 40 percent dip in sales to $158,520, compared to $264,199 sold during the same Q2 2010, according to a press release.
Echo Therapeutics, which announced that its shares were listed the NASDAQ Capital Market exchange one day before the close of the quarter, spent nearly $800,000 more on operations this quarter than in the same period last year as it aims to push its Symphony transdermal continuous glucose monitoring system through clinical trials.
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
Here’s a quick rundown of a few releases over the past couple days:
Tornier narrows losses in Q2
Tornier N.V. (NSDQ:TRNX) losses narrowed dramatically in the three months ended July 3. The Amsterdam-based orthopedic company posted a 19 percent incrase in sales to $65.2 million, compared to $54.7 million during the same period last year.
Company losses shrank 67 percent to $2.9 million, or a loss of 7 cents per diluted share, compared to $8.6 million lost, or a loss of 31 cents per diluted share in Q2 of 2010.
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Thergenics boosts earnings
Theragenics Corp. (NYSE:TGX) saw an earnings bump in the three months ended June 30. The Buford, Ga.-based surgical products and prostate cancer company posted a 4 percent increase in sales to $21.5 million, compared to $20.8 million during the same period last year.
Company profits jumped 52 percent to $1.2 million, or 4 cents per diluted share, compared to $782,000, or 2 cents per diluted share in Q2 of 2010.
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TranS1 sinks in Q2
TranS1 Inc. (NSDQ:TSON) saw heavy losses in the three months ended June 30. The Wilmington, N.C.-based spinal company posted a 26 percent decrease in sales to $5.3 million, compared to $7.2 million during the same period last year.
Company losses widened 19 percent to $4.3 million, or a loss of 21 cents per diluted share, compared to $3.6 million, or 18 cents per diluted share in Q2 of 2010.
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IntriCon dives into the red
IntriCon Corp. (NSDQ:IIN) saw a dramatic dive in the three months ended June 30. The Arden Hills, Minn.-based maker of mini and micro-mini wearable devices posted a 7 percent decrease in sales to $14 million, compared to $15 million during the same period last year.
Company profits fell $294,000 into the red, or lost 5 cents per diluted share, compared to $$269,000, or 5 cents earned per diluted share in Q2 of 2010.
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Bovie sinks deeper into the red
Bovie Medical Corp. (NYSE:BVX) saw healthy sales growth and widened losses in the three months ended June 30. The Melville, N.Y.-based electrosurgical company posted a 16 percent increase in sales to $6,841, compared to $5,987 during the same period last year.
Company losses soared 666 percent to $429,000, or a loss of 2 cents per diluted share, compared to a loss of $56,000, with neutral share earnings, in Q2 of 2010.
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Invivo posts triple losses
InVivo Therapeutics (OTC:NVIV) saw dramatically widened losses in the three months ended June 30. The Cambridge, Mass.-based early-stage spinal company posted had no sales to post.
Company expenses grew 41 percent to $1.4 million, compared to $970,445 lost in Q2 of 2010. Losses per diluted share stayed steady at 3 cents.
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Vision Sciences widens losses on strong sales
Vision Sciences Inc. (NSDQ:VSCI) saw strong sales growth in the three months ended June 30. The Orangeburg, N.Y.-based endoscopy company posted a 43 percent boost in sales to $3.8 million, compared to $2.6 million during the same period last year.
Company losses widened 7 percent to $2.6 million, or a loss of 6 cents per diluted share, compared to $2.5 million, or 7 cents lost per diluted share in Q2 of 2010.
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Bioject kills it in Q2
Bioject Medical Technologies Inc. (OTC:BJCT) saw huge boosts in the three months ended June 30. The Portland, Ore.-based needle-free drug delivery systems company posted a 107 percent leap in sales to $2.4 million, compared to $1.2 million during the same period last year.
The company climbed out of the red, postign profits of $274,000, or 1 cent per diluted share, compared to losses of $556,000, or 3 cents lost per diluted share in Q2 of 2010.
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Cardica sales look good in Q4 and great for FY 2011, but the company stays in the red
Cardica Inc. (NSDQ:CRDC) saw great sales in FY 2011, posting a 232 bump to $13.2 million, compared to $4 million in sales in 2010. Fourth quarter 2011 sales came in 5 percent higher than the same period last year with $1.04 million compared to $991,000 for Q4 2010.
The Redwood City, Calif.-based stapling and anastomotic devices company posted a 7 percent decrease in losses to $2.8 million for fourth quarter, compared to $3.1 million lost during the same period last year.
Company losses for 2011 narrowed 68 percent to $3.5 million, or a loss of 14 cents per diluted share, compared to $11 million lost, or 50 cents lost per diluted share in 2010.
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World Heart sees sinking sales, earnings; ends Levacor ventricular assist device program
World Heart Corp. (NSDQ:WHRT) saw a hard quarter in the three months ended June 30. The Salt Lake City, Utah-based ventricular assist device company posted a 97 percent sink in sales to $14,139, compared to $467,428 during the same period last year. The company announced that it tabled its Levacor ventricular assist device technology to focus on a new generation MiFlow VAD.
Company losses narrowed 44 percent to $1.5 million, or 6 cents lost cents per diluted share, compared to $2.7 million, or 19 cents per diluted share in Q2 of 2010.
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Kip’s Bay narrows losses
Kip’s Bay Medical Inc. (NSDQ:KIPS) cut expenses in the three months ended July 2. The Minneapolis, Minn-based company posted a steady sales of $48,000, the same as during the same period last year.
Company losses narrowed 82 percent to $1.04 million, or 7 cents lost per diluted share, compared to $5.9 million, or 43 lost cents per diluted share in Q2 of 2010.
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Tiger X Medical posts in the black on buyout
Tiger X Medical Inc. saw a huge boost thanks to a buyout in the three months ended June 30. The Van Nuys, Calif.-based company posted a 11.4 million in earnings on no revenues, compared to $1.5 million lost.
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