Stentys ramped up expenses in 2013 as it launched a U.S. clinical trial for its cardiac stent. The French devicemaker reported revenues up 34% over the previous year.
Stentys' self-apposing cardiac stent has been on the market in Europe since 2010. Last year, the company came out with positive one-year results that helped win them an expanded indication for the device in the EU.
The cash from growing sales there has helped finance Stentys' Apposition V study in the U.S., where the company reported it spent €2.34 million ($3.25 million) last year in premarketing costs, including the study. Patient enrollment in that study is expected to conclude this year.
Stentys also expects to announce results from its Apposition IV study in Europe, this spring. Further, the company is looking forward to a CE mark for its sirolimus-eluting stent during the second half of the year.
Based in Princeton, NJ, and Paris, Stentys on Thursday disclosed an operating loss of €11.98 million ($16.63 million) on €3.39 million ($4.7 million) in 2013 revenue. The prior year's operating loss was €11.05 million. Stentys had disclosed the revenue figure previously, in January.
The company said as of Dec. 31, it had €31.9 million ($44.31 million) in cash.
- read Stentys' annual report (PDF)