CHF Solutions (CHFS) Stock Climbs On Revenue Growth

CHF Solutions CHFS Stock News

CHF Solutions Inc (NASDAQ: CHFS) is climbing in the market this morning, and for good reason. The company announced highlights from the second quarter, showing strong revenue growth and exciting investors. Here’s what’s going on:

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CHFS Stock Climbs On Second Quarter Update

In the press release, CHF Solutions provided its results for the second quarter. Importantly, the company generated revenue of $1.9 million in the second quarter. That figure represents growth of 14% quarter over quarter and 11% year over year.

From an operational standpoint, the company reminded investors that it has hosted two physician-led webinars during the quarter. The webinars focused on the treatment of critically ill, COVID-19 patients.

Moreover, CHFS said that it hosted a webinar led by Dr. David Askenazi, M.D. MSPH on the treatment of fluid overload on pediatric patients as well as announced a partnership for a pediatric registry.

The company also pointed to its recent patnet application for an adoption of its Aquadex SmartFlow system to rapidly clear sytokines.

At the end of the quarter, the company had $7.8 million in cash and no debt. Much of this was the result of two registered direct offerings and warrant exercises, providing a total of $5.5 million in funding.

In a statement, John Erb, Chairman and CEO at CHFS, had the following to offer:

We continue to be very pleased that we produce a product that is providing a meaningful therapy for treating the COVID-19 patients. 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.

This Is Big News

The news released by CHF solutions proved to be overwhelmingly positive. Not only did the company report increasing revenue in the face of COVID-19, but it also reported progress with regard to its part in the fight against the pandemic.

Considering the solid Q2 performance, CHFS stock is one to watch ahead.

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