HeartWare Q3 losses rise, but so do EU HVAD sales

HeartWare International ($HTWR) didn't waste any time ramping up sales efforts after gaining expanded European approval in May for wider use of its ventricular assist system. Revenue in international markets soared 40% in the company's 2012 third quarter ending Sept. 30, hitting $19.2 million. But U.S. revenue plunged to $3.7 million during the quarter, down from $7.6 million a year ago, as the company adjusted its clinical trial activity. Overall, revenue rose slightly to just less than $23 million. Net losses reached $25 million, versus a $14 million net loss over the same period a year ago. That came, in part, from increased spending as HeartWare ramped up corporate infrastructure and expanded operations for anticipated PMA approval and U.S. launch of its HVAD as a bridge-to-transplant device. Release

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