Sunshine Heart gains on a solid Q2 report

|By:, SA News Editor

Sunshine Heart (SSH +7%) gets a boost from a better-than-expected Q2 report earlier this morning, as its its loss per share narrowed to $0.35 from a loss of $0.42 the year earlier.

Analysts were looking for the loss to widen to $0.43 per share. The company says it's made significant site progress on its C-Pulse COUNTER HF U.S. trial, with three new sites activated and a total of seventeen committed to participate in the trial.

Operating expenses increased Y/Y, largely due to increased clinical research and infrastructure expenses related to the C-Pulse U.S. trial and EU post-market study, as well as higher non-cash compensation expenses.