EnteroMedics narrows losses in Q3, aims for 2014 commercialization
EnteroMedics narrows Q3 losses by 20%, with lower spending on research & development in the 3 months ended September 30.
The weight-loss neurostimulation devices maker posted $5.8 million in net losses, or 14¢ per share, 1¢ above the analysts' expectations. That compared with a net loss of $7.3 million, or 26¢ per share, during the same period last year. No sales were reported for either term.
EnteroMedics, a development-stage company, is working on a device that stimulates the vagus nerve with high frequency, low energy electrical impulses in order to treat obesity.