Even though 2nd-quarter net losses soared for HeartWare International (NSDQ:HTWR), sales rose 43% for the medical device company, sending shares up a tick today.
HeartWare, which makes implantable heart pumps, reported losses of $22.8 million, or $1.61 per share, on sales of $29.1 million during the 3 months ended June 30.
That sent HTWR shares to $88.06 as of about 3:50 p.m. today, up 1.4% on the day.
"Following the positive recommendation of the Circulatory System Devices advisory committee in April, we have been focused on working with the FDA as it finalizes its review of our pre-market approval application for U.S. commercialization of the HeartWare ventricular assist system as a bridge to heart transplantation," president & CEO Doug Godshall said in prepared remarks. "Our 2nd-quarter results also reflect increased investment in our technology pipeline, particularly our MVAD System for which human clinical testing is expected this year, as well as ramping of personnel in anticipation of expanded commercialization."
HeartWare won expanded CE Mark approval in the European Union for its ventricular assist device for long-term use in all patients at risk of refractory, end-stage heart failure in May. Last week it closed an $8 million buyout of erstwhile rival World Heart Corp.
