QT Vascular's Q1 hit by fair-value loss and higher expenses

Singapore

RECENTLY listed catheter maker QT Vascular reported a net loss of US$9.2 million for its first quarter ended March 31, 2014, compared with a US$4.1 million loss the same period a year ago.

The widened loss was due mainly to a fair value loss of US$2.4 million, contributing to higher finance costs, and US$2.6 million worth of higher administrative expenses, of which US$0.9 million were professional service fees for its initial public offering (IPO) which took place at the end of April.