Abiomeds net loss narrows, due to Impella sales uptick

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Abiomed, a provider of heart support technologies, has narrowed its net losses in the third quarter of 2010, which ended Dec. 31, 2009.

The GAAP [generally acceptable accounting principles] net loss was $4.6 million, compared with a GAAP net loss of $7.7 million for the third quarter of fiscal 2009, according to the Danvers, Mass.-based company.

Abiomed said its third quarter fiscal 2010 revenue was $22.8 million, up 32 percent compared with revenue of $17.3 million for the same period of fiscal 2009. Its quarterly profits were largely driven by the worldwide Impella revenue, totaling $15.9 million, up 81 percent compared to revenue of $8.8 million for the third quarter of fiscal 2009.

Approximately 425 U.S. commercial patients were treated with Impella 2.5, 5.0 or LD, a 166 percent increase compared to approximately 160 commercial patients in the third quarter of fiscal 2009, Abiomed said.

Approximately 1,625 U.S. commercial patients have been treated with Impella as of the end of the third quarter of fiscal 2010.