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QT Vascular slightly narrows FY14 losses

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Revenue more than doubled to US$13.2 million, mainly due to an increase in sales of its Chocolate PTA (pictured) and Glider PTCA products with its distributors and direct coronary sales in the United States, it said.

QT Vascular said on Wednesday it has narrowed its net losses for the year ended Dec 31, 2014, to US$34.17 million, from US$34.52 million in the previous year.

Revenue more than doubled to US$13.2 million, mainly due to an increase in sales of its Chocolate PTA and Glider PTCA products with its distributors and direct coronary sales in the United States, it said.

Higher expenses - including higher business activities and professional service fees for its initial public offering and ongoing litigation, research and development expenses, and interest expenses relating to convertible notes - led the company into the red, however.

QT Vascular makes medical devices for the treatment of vascular diseases. The company was listed on the Catalist board last April.

sentifi.com

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