Impella sales drive down Abiomeds Q3 losses, guidance raised

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Abiomed has narrowed its net losses, partily due to strong sales of Impella in the third quarter of 2011, which ended Dec. 31, 2010.

The company reported a generally accepted accounting principles (GAAP) net loss for the third quarter of 2011 of $802,000, compared with a GAAP net loss of $4.6 million for the third quarter of 2010.

The overall revenue rose to $27.2 million, up 19 percent, in the 2011 third quarter, compared with the same period of fiscal 2010, according to the Danvers, Mass.-based Abiomed.

Worldwide Impella revenue totaled $21.1 million, up 33 percent compared with revenue of $15.9 million during the same period of the prior year. A reported 752 U.S. commercial patients were treated with Impella 2.5, 5.0 or LD, which is a 77 percent increase compared with a reported 425 patients in the third quarter of fiscal 2010. Also, U.S. Impella reorders of $16.9 million were up 106 percent from $8.2 million in the third quarter of fiscal 2010 and represented 87 percent of U.S. Impella revenue.

Based on third quarter fiscal 2011 results and a positive Impella outlook, the company raised its prior full year worldwide revenue guidance of $93 million to $97 million to the range of $99 million to $101 million, representing a 16 to 18 percent increase over the prior fiscal year.