Expenses for the development of its AI-700 ultrasound contrast agent increased the net loss for Acusphere in the third quarter (end-September 30).
The Watertown, MA-based company reported $857,000 in revenue, the same amount as in the third quarter of 2004. The quarterly net loss totaled $10.4 million, compared with $6.3 million in the same quarter a year ago.
For the nine-month period, the company's revenue increased to $2.6 million, compared with $857,000 in the corresponding period of 2004. The net loss increased to $33 million, compared with $20.8 million in the same period last year.
Acusphere is developing AI-700 -- now in phase III trials -- to enable ultrasound to compete more effectively with nuclear stress testing.
By AuntMinnie.com staff writers
November 11, 2005
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