HeartWare International (NSDQ:HTWR) shares gained 15% this morning after the medical device company crushed forecasts with its 3rd-quarter sales and earnings figures, reporting stronger-than-expected sales of its left ventricular assist device implantable heart pump.
Framingham, Mass.-based HeartWare posted losses of $11.4 million, or 69¢ per share, on sales of $54.8 million for the 3 months ended Sept. 30. That’s a reduction in losses of 54.5% on sales growth of 139.7%.
Analysts on Wall Street were expecting losses of 83¢ per share on sales of just 49.3 million.
"During the third quarter, 549 HeartWare ventricular assist systems were sold globally, an increase from 256 units in the 3rd quarter of 2012 and more than our previous high quarterly total of 523 units in the 2nd quarter of 2013," president & CEO Doug Godshall said in prepared remarks. "Our results for the 3rd quarter reflect continued positive trends in the commercial launch of the HeartWare system in the U.S., following approval from Food and Drug Administration late last year, as well as continued strong support from our international customers."
"Our strong commercial growth was complemented by advances made in clinical development, as we received full protocol approval from FDA for a supplemental patient cohort to our destination therapy trial and commenced enrollment last month," Godshall added. "We also remain on track for initiation of first-in-human testing of our next generation MVAD pump, with Pal controller, early next year."
Investors reacted by sending HTWR shares up 14.9% to $85 even as of about 10:30 a.m. today.