Sunshine Heart Inc. (SSH) reported that its fourth-quarter net loss was $4.1 million or $0.44 per share, compared to loss of $5.2 million or $0.87 per share in the year ago quarter.
Operating expenses in the fourth quarter 2012 totaled $4.1 million, compared to $5.4 million in the fourth quarter of 2011. The decrease was attributable to reduced spending on clinical trials and research and development projects during the fourth quarter 2012 versus the prior year primarily as a result of the timing of certain development activities and clinical trial expenses.
The company did not generate revenue for both the latest and prior year quarter.
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