Nuwellis (NSDQ:NUWE) shares were up today on fourth-quarter results that were mixed compared to the consensus forecast.
The Minneapolis-based fluid overload treatment developer — formerly known as CHF Solutions — posted losses of $4.4 million, or 41¢ per share, on sales of $1.6 million for the three months ended Dec. 31, 2021, for a bottom-line slide deeper into the red on a sales decline of 19.7%.
Nuwellis’ losses per share of 41¢ came in 7¢ ahead of expectations on Wall Street, where analysts were looking for sales of $2.1 million.
“We are encouraged by our progress executing our strategy throughout 2021. Our organization and its employees continued to show adaptability and resilience amid changing market conditions and customer requirements, and we ultimately succeeded in helping more patients benefit from our therapy during the year,” Nuwellis CEO Nestor Jaramillo said in a news release. “We anticipate that when this most recent omicron variant wave dissipates, we will see accelerating sales growth by continuing to position ourselves as the primary provider of ultrafiltration therapy for treating patients suffering from fluid overload that are refractory to diuretics.”
Nuwellis did not offer financial guidance for fiscal 2022.
Shares of NUWE were up 2.2%. at $1.01 per share in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was close to even on the day.
