TriVascular reports increase in annual revenues, losses

The Santa Rosa med-tech developer reported that its 2014 revenue increased by 63 percent while its net loss also increased.|
BILL SWINDELL
THE PRESS DEMOCRAT

Santa Rosa-based TriVascular Technologies Inc. reported that its 2014 revenue increased by 63 percent to $31.8 million, while its net loss also increased by 14 percent to $57.4 million.

The company, which makes medical devices such as stent graft systems, said it had an accumulated deficit of almost $296 million as of Dec. 31, a 24 percent increase from year-end 2013.

The company made meaningful progress making endovascular aneurysm repair surgery better, safer and more widely available to patients, said Chris Chavez, the company’s president and CEO.

“Entering 2015, our foundation is strong,” Chavez said in a statement.

TriVascular said it anticipates 2015 revenue to be around $47 million. The company’s stock closed on Nasdaq at $10.17 per share, an increase of a penny.

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