The Andover, Mass.-based company reported losses of -$5.1 million, or -19¢ per share, on sales of $7.1 million for the three months ended Sept. 30, for a sales loss of -1.6% compared with Q3 2019.
Earnings per share were -19¢, 10¢ ahead of The Street, where analysts were looking for sales of $5.6 million.
“Our sequential growth in the third quarter was driven by the ongoing recovery in transplant activities in the United States in addition to the rapid enrollment and completion of our OCS Heart DCD U.S. trial,” president and CEO Waleed Hassanein said in a news release. “We are actively engaged with the FDA to complete the review of the additional OCS Heart EXPAND CAP data and the rescheduling of our OCS Heart FDA Advisory Committee meeting. We remain confident in our ability to have all three of our OCS products approved and commercially available in the second half of 2021.”
TransMedics said it is not providing annual guidance for 2020 due to the uncertainty surrounding the ongoing COVID-19 pandemic.
Shares in TMDX were up 0.6% to $12.65 apiece in mid-morning trading. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 1.75%.