|
Nasdaq
Abiomed,
Inc. is a developer, manufacturer and marketer of medical products designed
to safely and effectively assist or replace the pumping function of a failing
heart. The Company's FDA (Food and Drug Administration)-approved BVS is
an advanced heart assist device used for temporary treatment of heart failure
patients.
http://www.abiomed.com
595
U.S. Commercial Impella Patients During the Quarter
49
Patients Enrolled in PROTECT II Study
DANVERS,
Mass., Aug 04, 2010 (BUSINESS WIRE) --
Abiomed
Reports Record U.S. Impella Utilization for First Quarter of Fiscal 2011
Abiomed,
Inc. (NASDAQ: ABMD), a leading provider of breakthrough heart support technologies,
today reported first quarter fiscal 2011 revenue of $22.0 million, up 11%
compared to the same period of fiscal 2010.
Total
commercial U.S. Impella revenue, including initial site stocking orders
and reorders, totaled $15.5 million, a 48% increase compared to $10.5 million
in the first quarter of fiscal 2010. Commercial U.S. Impella reorders of
$13.7 million were up 114% from $6.4 million in the first quarter of fiscal
2010 and represented 88% of commercial U.S. Impella revenue.
Worldwide
Impella revenue totaled $16.6 million, up 38% compared to revenue of $12.0
million in the prior year.
Financial
and operating highlights during the first quarter of fiscal 2011 include:
Approximately
595 U.S. commercial patients were treated with Impella(R) 2.5, 5.0 or LD,
a 74% increase compared to approximately 341 commercial patients in the
first quarter of fiscal 2010.
49
patients were enrolled in the Protect II study, for a total of 390 patients
completed, or 60% of the 654 patients required.
An
additional 24 U.S. hospitals purchased Impella 2.5 for commercial use during
the quarter, bringing the total to 437 commercial customers, as compared
to 47 hospitals added in the first quarter of fiscal 2010.
Gross
margin rate for the first quarter of fiscal 2011 was 76%, compared to 75%
in the first quarter of fiscal 2010.
Non-Impella
revenue was $5.4 million for the first quarter of fiscal 2011, 32% lower
than $7.9 million in the first quarter of fiscal 2010. The decline in non-Impella
revenue was attributed partially to the Company's restructuring of its
surgery business and the exiting of distributors in Europe.
GAAP
net loss for the first quarter of fiscal 2011 was $6.0 million, or $0.16
per share, compared to a GAAP net loss of $7.8 million, or $0.21 per share
for the first quarter of fiscal 2010.
Non-GAAP
net loss, which is described later in this press release for the first
quarter of fiscal 2011 was $3.7 million, or $0.10 per share versus non-GAAP
net loss of $5.7 million or $0.16 per share, in the first quarter of fiscal
2010.
Cash,
cash equivalents and short-term marketable securities totaled $54.9 million
at June 30, 2010 compared to $58.3 million at March 31, 2010.
At
EuroPCR in May 2010, Abiomed announced latest results from USpella, a U.S.
multicenter, observational registry of Impella 2.5(R) patients. The full
presentation can be viewed here.
|
