NxStage Medical (NSDQ:NXTM) yesterday celebrated the 10 year anniversary mark for FDA approval of its System One home hemodialysis, announced new pipeline developments and Q2 earnings that beat expectations.
The pipeline announcements from Lawrence, Mass.-based were said to include a next generation hemodialysis system, peritoneal dialysis system and a new critical care system, the company said.
“Over the last decade, NxStage’s model of innovation has yielded transformational technologies, including the System One, our dialysate preparation system, and a rich portfolio of integrated offerings and capabilities. We’re proud to have a portfolio that includes many of the industry’s ‘1sts’ in terms of technology and clearances that are having a wonderful impact on patient lives and advancing the standard of renal care,” CEO Jeffrey Burbank said in a separate prepared statement.
NxStage reported profits of $5.6 million, or an 8¢ loss per share, on sales of $80.3 million for the 3 months ended June 30. That amounts to a 22.3% slide on profits on sales growth of 8.4% compared to the same period last year.
Loss per share beat expectations by 2¢, and the company topped revenue expectations by around $500,000. Shares rose more than 10% during mid-day trading yesterday in response to the news.
“NxStage’s solid performance proves our commitment to strong, profitable long-term growth. Consistent with our growth strategy, we are driving increased demand for our therapy options and giving patients and clinicians more flexibility to meet both their clinical and lifestyle needs. In turn, we have been able to successfully execute on key financial metrics and strategic initiatives. We expect to surprise and delight our patients and customers with the launch of new game-changing technology starting next year that we believe will further extend our market leadership and fuel long-term growth,” CEO Jeffrey Burbank said in a press release.
The company also narrowed and improved their full-year guidance, lowering expected losses $2 to $4 million and stating that it expects to hit the high end of its revenue guidance of $324 to $328 million.
