CHF Solutions Inc. (CHFS) Tops Q2 EPS by $1.16

CHF Solutions Inc. (NASDAQ: CHFS) reported Q2 EPS of ($0.10), $1.16 better than the analyst estimate of ($1.26). Revenue for the quarter came in at $1.9 million versus the consensus estimate of $1.3 million.

• Revenue for the second quarter ended June 30, 2020, was $1.9 million, an increase of 14 percent from the first quarter of 2020 and 11 percent compared to the same period of the prior year.
• Hosted two physician-led webinars on treatment of critically ill, COVID-19 patients, including a discussion of the publication SARS-CoV-2 (COVID-19) and intravascular volume management strategies in the critically ill.1 which addressed the role of ultrafiltration in the treatment of COVID-19 patients.
• Hosted a webinar led by Dr. David Askenazi, M.D. MSPH on treatment of fluid overload on pediatric patients. Announced partnership for a pediatric registry.
• Announced the signing of a new a distribution arrangement to sell in the United Arab Emirates, effectively initiating presence in the Middle East.
• Submitted a patent application for an adaptation of Aquadex SmartFlow™ system to rapidly clear cytokines.
• Initiated a distribution agreement with Renal Sense, Ltd. to market and sell complementary real-time monitoring of patient’s renal function to prevent acute kidney injury.
• Ended the quarter with $7.8 million in cash and no debt. During the quarter, closed on two registered direct offering for next proceeds of $3.4 million, and received $2.1 million from warrant exercises.

“We continue to be very pleased that we produce a product that is providing a meaningful therapy for treating the COVID-19 patients,” said John Erb, chairman and CEO of CHF Solutions. “We know we are very fortunate to be less impacted than many small medical device companies, and although the rest of the year is full of uncertainty, we remain optimistic about the value we can bring to our customers and our investors.”

For earnings history and earnings-related data on CHF Solutions Inc. (CHFS) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Optimum Communications gets NYSE non-compliance notice over stock price
• Silexion Therapeutics (SLXN) Tops Q2 EPS by 793c