Opsens Stock Up on 149% Revenue Growth in FFR Products

Fractional flow reserve, or FFR, measurement involves calculating the ratio between the theoretical maximum flow of blood in a healthy coronary artery compared to a diseased one. FFR is growing increasingly more common as an assessment or coronary artery stenosis discovered during angiography and cardiac catheterization. It also happens to be a main focus of Opsens, Inc. (TSX:OPS) (OTCQX:OPSSF), a company seeing a rise in share value on Wednesday after releasing results from the latest quarter.

Opsens offers an advanced optical-based pressure guidewire for the purpose of improving the clinical outcome of patients with coronary artery disease. The company also has an industrial component, developing, manufacturing and installing fibre optic sensing solutions for applications such as monitoring oil wells.

In the quarter ended February 28, 2017, the Quebec City-based company posted a 149% increase in sales of its FFR-related product to $3.12 million, compared to $1.25 million in the year prior quarter. For the first six months of fiscal 2017, FFR product sales climbed 173% from the year prior period to $5.86 million.

Opsens, which graduated to the TSX from the TSX-Venture exchange at the end of the quarter, posted consolidated revenues of $4.81 million during Q2, up 75% from the year earlier quarter. For the first two quarters of the fiscal year, total sales surged to $8.55 million from $4.45 million.

Opsens trimmed its net loss for the quarter to $1.0 million, or 1 cent per share, from $1.52 million, or 2 cents per share last year. For the first six months, net loss was 5 cents per share for both 2016 and 2017 periods.

Toronto-listed shares closed Tuesday at $1.50 and gapped ahead to $1.55 at the open of trading Wednesday before rising as his as $1.60 and then settling back down to $1.55 mid-way through the afternoon.