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news.Hansen Medical, a developer of robotic technology for 3D control of catheter movement, has reported a net loss of $14.9 million, or $0.59 per basic and diluted share, for the fourth quarter ended December 31, 2008, compared to a net loss of $23.9 million, or $1.10 per basic and diluted share, for the same period of 2007.
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Total revenue for the three months ended December 31, 2008 was $7.3 million, a 74% increase, compared to $4.2 million in the same period of 2007. Total revenue for the year ended December 31, 2008 was $30.2 million, compared to $10.1 million for 2007.
The company’s net loss for 2008, including non-cash stock compensation expense of $11.2 million, was $53.4 million, or $2.21 loss per basic and diluted share, compared to a net loss of $50.4 million, or $2.33 per basic and diluted share, for 2007, which included non-cash stock compensation expense of $8 million.
Frederic Moll, co-founder and CEO of Hansen Medical, said: “Adoption rates for our technology have been strong, with an installed base of 55 systems worldwide since we began commercial shipments in May 2007. In addition, we made important investments in our business and established partnerships that we believe put us in a position to significantly expand our technology in the years ahead.”