FRAMINGHAM – HeartWare International Inc. reported a loss of $10.9 million in its second quarter today, July 29.
The Framingham-based company surpassed Wall Street expectations, but said it had a loss of 62 cents per share.
Heartware posted revenue of $68.7 million in the second quarter which also topped Wall Street forecasts.
The company’s shares have been on the rise since 2016, up 15 percent. However, the stock has dropped 30 percent in the last 12 months.
The company is an innovator of less-invasive, miniaturized circulatory support technologies that treat advanced heart failure.
HeartWare, in a press release, said total revenue decreased approximately 7 percent year-over-year, which is primarily attributable to the third quarter 2015 completion of enrollment of the company’s ENDURANCE2 Destination Therapy (DT) clinical trial, which contributed approximately $5 million to revenue in the second quarter of 2015.