QT Vascular's Q2 loss widens on expenses
BALLOONING administrative and research and development expenses caused Catalist-listed QT Vascular's net loss for the quarter ended June to widen, from US$11.4 million to US$13.5 million even as revenue tripled. For the second quarter, revenue rose from US$1.03 million to US$3.23 million.
The increase in revenue was mainly due to an increase in sales of its Chocolate PTA Balloon Catheter (Chocolate PTA), under the group's US distribution agreement with Cordis.
This was however dragged down by increases in administrative expenses from US$1.6 million to US$2.8 million and R&D expenses which increased from an insignificant amount to US$1.9 million. Loss per share for the quarter was US$0.02 compared with US$8.66 a year ago.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
OUE wins tender to lease, develop new ‘zero-energy’ hotel at Changi Airport’s T2
Roku’s warning on ad-supported streaming competition clouds upbeat earnings
Stocks to watch: CLI, Great Eastern, MIT, Sheng Siong, iFast, OUE, Far East Orchard
ByteDance prefers TikTok shutdown in US if legal options fail: sources
CapitaLand Investment posts total revenue of S$650 million for Q1
Pricey coffee is here to stay as hoarding, heat hit Vietnam supply