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
Related Reading
Acusphere wins accelerated payment, October 25, 2005
Acusphere readies stock offering, September 23, 2005
Acusphere plans new stock offering, February 18, 2005
Acusphere taps new VP, January 25, 2005
Acusphere closes financing, October 25, 2004
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