Echo Therapeutics Inc.’s (OTC:ECTE) grew more than three fold in Q2 as the company poured money into research & development and administrative expenses.
Losses for the quarter widened 262 percent to $1.9 million, or a loss of 6 cents per diluted share, during the three months ended June 30, compared to losses of $536,000, or 2 cents lost per diluted share, during the same period last year.
ConforMIS Inc. had a double-dose of good news today for its iTotal CR custom knee implant. The company touted CE Mark approval in the European Union as well as successful completion of the first surgeries using the knee resurfacing system.
Unlike standard implants, iTotal CR devices are based on an individual’s CT scans and tailored for their knee bones using computer-aided design.
Shares of BioMimetic Therapeutics Inc. (NSDQ:BMTI) continued their slide today after plummeting 35.3 percent yesterday to close at $8.66 on news of the FDA’s dim view of its Augment bone graft product.
Here’s a roundup of companies announcing clearances and approvals from the Food & Drug Administration and foreign regulatory agencies. Check out MassDevice’s compilation of the latest regulatory news for additional clearances and approvals.
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
Here’s a quick rundown of a few releases over the past couple days:
Cardica Inc. (NSDQ:CRDC) inked a two-year, $10 million stock purchasing deal with investment firm Aspire Capital Fund LLC.
The agreement calls for Cardica to control the timing and amount of any sales, using a formula based on the price of CRDC stock over the 12 days preceding the sale.
Cardica surges to Q1 profits
Cardica Inc. (NSDQ:CRDC) posted profits of $6.2 million, or 25 cents per share, on sales of $10.0 million during the three months ended Sept. 30. That compares with losses of $2.7 million, or 17 cents per diluted share, on sales of $947,000 during the same period last year.
Intuitive Surgical Inc. (NSDQ:ISRG) and Cardica Inc. (NSDQ:CRDC) agreed to integrate Cardica’s micro-cutter technology for Intuitive’s da Vinci robotic surgery system and for Intuitive to pick up a 3 percent stake in Cardica.
Cardica Inc. (NSDQ:CRDC) posted second-quarter sales of $1.1 million for the three months ended Dec. 31, 2009, down 63.9 percent compared with $2.9 million during the same period in 2008. Net losses for the quarter were $2.2 million, compared with net losses of $4.7 million during Q2 2008: