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Volcano Reports Third Quarter Results
Date:11/4/2013

d decline in PCI volumes, although we are beginning to see some stabilization in activity. Also, despite the growth in our FFR business in Japan, revenues were not to our expectations," he added.

"We are finishing 2013 with strong momentum in our market expansion and product development programs. In addition to our growth in the peripheral market and revenues from the sale of  the PioneerPlus™ Re-Entry catheter that we acquired during the quarter, we have initiated a limited market release for our Crux® inferior vena cava (IVC) filter and the full market release of our Verrata™ everyday pressure wire," Huennekens noted.

"Volcano also had a very strong showing at the recent Transcatheter Cardiovascular Therapeutics (TCT) conference. Data from our ADAPT DES study demonstrated the use of IVUS in stent patients changed the procedure 74 percent of the time and was associated with reductions in serious patient events, including stent thrombosis and myocardial infarction, as well as target lesion revascularizations—particularly for patients with more complex lesions. Additionally, the full results from our ADVISE II study showed that a hybrid iFR® (Instant Wave-Free Ratio) approach correctly matched an FFR-only approach in more than 94 percent of coronary stenoses and successfully avoided usage of adenosine in 65 percent of patients, reflecting findings from earlier studies in the use of our iFR technology," he said.

The strategic reprioritization program announced today is designed to enhance the allocation of resources and improve operating predictability and results. Key elements of the initiative include the discontinuation of development programs for the company's Forward-Looking IVUS, Forward-Looking Intra-Cardiac Echo and Optical Coherence Tomography intravascular imaging products.  The operating expenses associated with these three discontinued programs were approximately $12.0 million annually.  In ad
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SOURCE Volcano Corporation
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