Corindus Shares rise on Q3 EPS beat

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Corindus Vascular Robotics

Shares in Corindus Vascular Robotics (OTC:CVRS) have risen over 10% today after the robotic surgical platform maker beat loss-per-share expectations on Wall Street with its third quarter earnings.

The Waltham, Mass.-based company posted losses of approximately $7.6 million, or 4¢ per share, on sales of approximately $3 million for the three months ended September 30, seeing losses shrink 3.3% while sales grew 22% compared with the same period during the previous year.

Losses per share were just ahead of the 5¢ consensus on Wall Street, where analysts expected to see sales of $3.2 million, which the company narrowly missed.

“During the quarter, we continued to make progress on developing a vascular robotic system that can perform therapeutic procedures at any remote location. Demonstrating this technology at TCT gives us great confidence as we plan for the first-ever remote robotic in human PCI procedure later this year. Telerobotics combined with AI has generated significant interest from the clinical community as well as potential strategic partners. We look forward to updating the market as we advance our remote vascular robotic technology, which we believe has the potential to revolutionize treatment times for patients suffering from stroke and heart attacks,” prez & CEO Mark Toland said in a press release.

Shares in Corindus have risen 14.2% so far today, at $1.29 as of 10:33 a.m. EST.

In September, Corindus revealed plans for an offering worth up to $30 million.

The post Corindus Shares rise on Q3 EPS beat appeared first on MassDevice.

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