Boston, MA 08/14/2014 (wallstreetpr) – Sunshine Heart Inc (NASDAQ:SSH) reported the second-quarter results. It reported the loss of $0.38 per share as compared to loss of $0.35 per share in 2Q2013. The cash and cash equivalents came at $42.1 million comparable to $54.1 million in 2Q2013. The R&D expense came at $4.4 million comparable to $3.2 million in the prior-year quarter. SG&A expense came at $2.2 million. There was no change in SG&A expenses. Sunshine got a R&D tax credit refund of $0.3 million comparable to $1.1 million in 2Q2013.
The key highlights
Sunshine Heart Inc (NASDAQ:SSH) reported the activation of fifteen sites in the C-Pulse COUNTER HF U.S. investigational pivotal study. It was more than the 13 active sites in first quarter 2014. There are other two activated sites that will be added after the clinical contracts amendments. With the eighteen other U.S. sites, the total number of sites reaches to thirty-five. The US sites serves as the best platform to identity the potential patients. The enrollment is open for OPTIONS HF EU post-market study in the two centers in the UK. One center has conducted a successful implant. It implanted C-Pulse in two additional patients making the OPTIONS HF figure reach to twelve. The company went for a 90 day animal trial to check the fully-implantable C-Pulse system.
The management view
Sunshine Heart Inc (NASDAQ:SSH) is satisfied with the development of its OPTIONS HF and COUNTER HF™ studies. It received clinical progress in the development of C-Pulse® system. CEO, Dave Rosa said that Sunshine has witnessed the higher number of patients taking the time to visit the doctor in next quarter. The last two quarters have reflected higher exposure of C-Pulse COUNTER HF Trial. The enrollment is going to see a significant increase in the third quarter. Sunshine appointed Kimberly Oleson as new Senior Vice President of Clinical Affairs.
