Key Developments For Volcano Corporation
Volcano Corporation (VOLC.O) (Consolidated Issue listed on NASDAQ Global Market)
Volcano Corporation Reaffirms FY 2009 Guidance
Volcano Corporation reconfirmed prior guidance for fiscal 2009 and continues to expect revenues to be in the range of $218-$223 million. The Company continues to expect to report a GAAP net loss of $0.38-$0.43 per share. Excluding stock-based compensation expense of approximately $12.0 million and Goodman commissions of approximately $3.5 million, the Company expects to report a net loss of $0.06-$0.11 per share. According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of $221 million for the same period.
Results From PROSPECT Trial Demonstrate Ability of Volcano Corporation's VH IVUS Imaging to Identify Plaques Most Likely to Cause Heart Attacks
Volcano Corporation announced imaging results from PROSPECT, the 700 patient natural history study sponsored by Abbott and co-funded by Volcano. These data demonstrate the progression of cardiovascular disease via precise, intravascular imaging, and the ability of Volcano's VH IVUS technology to be used to classify lesions by plaque 'type' per the PROSPECT protocol and to assess the risk of each plaque type to cause an event, or to remain stable out to three years. PROSPECT results presented include the finding that angiographically mild lesions with certain morphologic features on grayscale and VH IVUS present with a 3 year cardiac event rate of 17%, versus other morphologies (indistinguishable by conventional angiograms) with three year event risks of less than 1%. PROSPECT (Providing Regional Observations to Study Predictors of Events in the Coronary Tree) is a first-of-its-kind multi-center, natural history study of acute coronary syndrome (ACS) patients. These patients underwent PCI to restore blood flow at baseline. Following the PCI procedure, an angiogram and a detailed IVUS image was captured in the three primary coronary arteries before the patient was sent home. If the patient had a subsequent event, they were readmitted, and again, an angiogram and IVUS imaging was performed.
Volcano Corporation Praises FAME Study Results
Volcano Corporation announced that the two-year results of the Fractional Flow Reserve (FFR) versus Angiography for Multivessel Evaluation (FAME) study confirm the importance of FFR in improving patient outcomes and reducing hospital costs. The findings were released during the 2009 Transcatheter Cardiovascular Therapeutics (TCT) conference in San Francisco. The results of the prospective, multi-center trial at 12-months, originally published in the New England Journal of Medicine in 2009, demonstrate that patients with multi-vessel coronary artery disease who were treated by FFR guidance had a 34% reduction in death and myocardial infarction (MI) compared to angiographic guidance alone. The clinical benefit of FFR-guidance at two years showed the sustained reduction in death and heart attacks of 34%. The study also demonstrated that adhering to an FFR-guided regimen for multi-vessel disease provides cost benefits to the hospital and payers by reducing procedural costs by $675 and lowering average length of hospitalization. The data also showed that the implementation of FFR did not add time to the multi-vessel percutaneous interventional (PCI) procedure.
Volcano Corporation And Siemens Healthcare Announces Global Resale Agreement For Volcano IVUS/FFR Systems
Volcano Corporation announced that it has entered into a non-exclusive, global resale agreement with Siemens Healthcare, a sector of Siemens AG. Under this agreement, Siemens will resell Volcano-branded s5i IVUS/FFR systems and accessories alongside Siemens' Artis family of X-ray systems.
Volcano Corporation Reaffirms FY 2009 Guidance
Volcano Corporation reaffirmed its fiscal 2009 guidance for revenues to be in the range of $218-$223 million. The Company expects to report a GAAP net loss of $0.38-$0.43 per share. Excluding stock-based compensation expense of approximately $12.0 million and Goodman commissions of approximately $3.5 million, the company expects to report a net loss of $0.06-$0.11 per share. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $220 million for fiscal 2009.
