Three companies — Abiomed Inc., Elixir Medical Inc. and ImThera Medical Inc. — are touting the results of clinical trials:
Results from the U.S. registry of Abiomed, Inc. (NASDAQ: ABMD), AB5000 patients were recently published in the September 2010 issue of TheAnnals of Thoracic Surgery.
Abiomed Inc. (NSDQ:ABMD) announced the first use of its Impella RP cardiac assist pump north of the border.
Dr. Anson Cheung of Vancouver-based Providence Heart and Lung Institute performed the procedure, which involves the percutaneous insertion of the device into the heart’s right ventricle.
Ronald Dollens, the former president and CEO of Guidant Corp., is walking away from his board seat at Abiomed Inc. (NSDQ:ABMD) with one year left on his term, according to documents filed with the federal Securities & Exchange Commission.
Dollens, who joined the board of the Danvers, Mass.-based heart pump maker in 2006, was set to have his board term expire in 2011, but evidently decided to step down before his term expired.
Abiomed Inc. (NSDQ:ABMD) boasted a sales bump of 11 percent as revenues from its Impella heart pumps reached record numbers during the first quarter of the company’s fiscal 2011.
The Danvers, Mass.-based cardiac assist device maker, reported net losses of $6.0 million, or 16 cents per share, on sales of $22 million during the three months ended June 30. That compares with net losses of $7.8 million, or 21 cents per share, on sales of $19.9 million during the same period last year.
Abiomed Inc. (NSDQ:ABMD) makes cardiac assist devices powerful enough to pump more than a gallon of blood through the heart each minute and small enough to be placed inside the heart via catheter. It’s a highly specialized, highly competitive market that’s difficult to break into.
At an investors meeting in Boston last week, the company sought to deliver the message that its devices offer a less invasive option than ventricular assist devices and don’t need to be combined with inotropic drugs as is often the case with intra-aortic balloon pumps. It’s been two years since Abiomed won 510(k) clearance from the Food & Drug Administration for its Impella 2.5 device; at the conference, CTO Dr. Thorsten Siess acknowledged that physicians have been slow to adopt the device.
Abiomed Inc. (NSDQ:ABMD) re-stated its fourth-quarter sales and earnings numbers, resulting in a nearly $1 million boost to its bottom line.
The Danvers, Mass.-based cardiac assist device maker said it failed to account for about $800,000 in reduced operating expenses from its exit from a building lease in Athlone, Ireland. That boosted profits for the fourth quarter from $193,000, or 1 cent per share, to $975,000, or 3 cents per share. That compares with a net loss of $8.5 million, or 23 cents per share, for Q4 2009.
Nearly two years after agreeing to accept fistfuls of stock rather than calling a $5 million loan due, Abiomed Corp. (NSDQ:ABMD) is cashing in a portion of its stake in World Heart Corp. (NSDQ:WHRT)
Over the past five weeks, Abiomed has sold slightly more than 230,000 World Heart shares, generating nearly $740,000 in gross proceeds for the Danvers, Mass.-based manufacturer of miniaturized heart pumps. Abiomed still owns more than 2.5 million shares, worth about $6 million, and remains among the largest individual shareholders of World Heart with nearly 19 percent of its stock.
Abiomed Inc. (NSDQ:ABMD) was hit with a Class I recall of its AB5000 Circulatory Support System after receiving reports that the computer supplying power to the company’s disposable heart pumps may shut down without warning.
Class 1 recalls are the most serious type of recall and involve situations in which there is a reasonable probability that use of these products could cause serious injury or death.
Abiomed Inc. (NSDQ:ABMD) continued its ride toward profitability on the back of its Impella cardiac assist device, paring its third-quarter net loss by more than 40 percent and posting a 32 percent increase in total sales.
The Danvers, Mass.-based company reported net losses of $4.6 million, or 12 cents per share, on revenues of $22.8 million during the three months ended Dec. 31, 2009, compared with net losses of $7.7 million, or 21 cents per share, on revenues of $17.3 million during Q3 2009.
The world’s largest asset management firm is now a major player in medical devices.
In the first of several pending moves, BlackRock Inc. (NYSE:BLK) assumed a five percent stake in several medical device firms including Boston Scientific Corp. (NYSE: BSX) and Abiomed Inc. (NSDQ:ABMD), according to a clutch of regulatory filings with the federal Securities and Exchange Commission Jan 29.
BlackRock, which controls more than $3.2 trillion in assets, assumed the stake in both firms following its purchase of Barclay’s Global Investors last December.