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Loss Lessens at Micro Therapeutics

Micro Therapeutics Inc. on Thursday said its third-quarter net loss narrowed from a year ago.

The company, an Irvine-based maker of devices to treat blood vessel disease, lost $1.7 million, down from a $15.5 million loss a year ago.

Sales were up 71% to $14 million.

Higher sales and cost cutting brought the smaller loss, Micro Therapeutics said.

During the third quarter, the Food and Drug Administration cleared for sale Onyx, Micro Therapeutics’ lead product for treating blood vessel disease in the brain.

Micro Therapeutics also said it expects sales for the year to come in at $53 million to $54 million, up from an earlier projection of $51 million to $54 million.

The company expects a further narrowing of losses in the fourth quarter.

Minnesota’s Ev3 Inc., Micro Therapeutics’ majority shareholder, plans to buy the device maker.


For more on Micro Therapeutics, see the Oct. 31 print edition of the Orange County Business Journal.


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