Acusphere cuts annual net loss

Mar 16, 2008

Ultrasound contrast developer Acusphere of Watertown, MA, cut its net loss for the year as the company prepares to file for regulatory approval of its first product, Imagify.

For the year (end-December 31), Acusphere posted revenue of $2.7 million, up 50% compared with revenue of $1.8 million in 2006. The company's net loss for the most recent year was $53.7 million, compared with a net loss of $61.1 million in 2006.

For the fourth quarter, Acusphere recorded revenue of $667,000, virtually even with the $666,000 for the same period in 2006. The company's net loss for the quarter edged higher to $12.6 million, compared with $12 million in the same quarter of the previous year. Most of the company's revenue came from marketing partner Nycomed of Zurich, Switzerland, which has rights to sell Imagify in Europe.

Acusphere said it plans to file a new drug application in April for Imagify, which is designed for use in perfusion stress-echo studies to detect coronary artery disease. The firm said it is also continuing to engage in discussions with other companies regarding partnership opportunities for Imagify and financing alternatives for the company.

Acusphere reports Q3 results, November 9, 2007

Acusphere releases Imagify study data, November 6, 2007

Acusphere names new CFO, October 4, 2007

Acusphere in 'partnership' discussions, September 20, 2007