Three N.C. technology and life science firms report financials that are at least positive in one respect:

  • RTP-based TransEnterix reports revenue higher than expectations
  • Qorvo’s earnings beat, but projects future results below expectations
  • High Point-based VTV Therapeutics beats analyst earnings estimate

Chris Roush, editor of North Carolina Business News Wire, reports:

  • RTP-based TransEnterix reports revenue higher than expectations

RESEARCH TRIANGLE PARK – Medical device company TransEnterix Inc. reported second-quarter revenue above analyst expectations and a net loss that met Wall Street projections, according to a filing Wednesday with the Securities and Exchange Commission.

The Research Triangle Park-based company reported a net loss of $14.7 million, or negative 11 cents per share, compared to a net loss of $80.1 million, or negative 70 per share, in the same quarter in 2016. Analysts were expecting a net loss of 11 cents per share.

Revenue of $1.6 million topped analyst projections of $1.3 million for the quarter. The company had no revenue in the same quarter a year ago.

“We are very pleased with the progress we made during the quarter on our key strategic priorities,” said Chief Executive Todd M. Pope in a statement.

The company’s stock rose 3 cents to 66 cents in after-hours trading on Wednesday.

During the quarter, TranEnterix sold one of its Senhance robotic surgery systems to the Saitama Medical University International Medical Center in Japan.

It now has eight such systems in hospitals in France, Germany, Italy, the United Kingdom, and Japan.

During the quarter, TransEnterix raised $23.2 million in an equity offering and refinanced its debt.

The equity offering included Series A warrants that will expire 10 days after the announcement of a U.S. Food and Drug Administration clearance of the Senhance.

Assuming that these warrants are exercised, TransEnterix will receive another $25 million, which the company expects will fund its operations into late 2018.

  • Qorvo’s earnings beat, but projects future results below expectations

GREENSBORO – Wireless chip manufacturer Qorvo Inc. reported fiscal first-quarter earnings and revenue that topped Wall Street expectations but also projected second-quarter results below analyst projections, according to a filing Wednesday with the Securities and Exchange Commission.

The Greensboro-based company reported a loss of $30.6 million, or negative 24 cents per share. On a non-GAAP basis, the company reported earnings of 87 cents per share, topping analyst projections of 80 cents per share.

Revenue of $640.8 million for the quarter ended July 1 was higher than the $631.4 million projected by Wall Street.

“The Qorvo team delivered June quarter revenue and EPS at the high end of our guidance with continued progress toward achieving our margin targets,” said Chief Executive Officer Bob Bruggeworth in a statement.

The company’s stock rose $1.44, or 2.15 percent, to $68.30 in after-market trading on Wednesday.

However, the company said it expects its fiscal second quarter to produce results below what analysts are currently predicting.

Qorvo said it expects to produce earnings between $1.36 per share and $1.50 per share in the second quarter, below the analyst consensus estimate of $1.52 per share.

And it is projecting revenue between $800 million and $820 million, below the analyst consensus estimate of $845.1 million.

“In the second quarter, we expect strong sequential growth on seasonal phone launches, a modest China recovery, and continued strength in IDP,” said Chief Financial Officer Mark Murphy in a statement.

  • High Point-based VTV Therapeutics beats analyst earnings estimate

HIGH POINT — A High Point-based company developing drugs to treat Alzheimer’s disease and diabetes reported a small-than-expected loss during the second quarter, according to a filing Wednesday with the Securities and Exchange Commission.

VTV Therapeutics Inc. reported a net loss of $3.9 million, or 41 cents per share, during the second quarter, better than the loss of $4.5 million, or 47 cents per share, in the same quarter a year ago, and better than the projected loss of 43 cents.

Revenue was $13,000, below expectations of revenue of $50,000. It had $182,000 in revenue in the second quarter of 2016.

““With positive progress in our lead Alzheimer’s and diabetes programs, vTv is pleased to showcase another productive quarter,” said Chief Executive Officer Steve Holcombe in a statement.

The company’s shares fell 10 cents to $4.39 on Wednesday. The earnings were announced after the market closed.

At the American Diabetes Association meeting in June, the company presented updates from its Phase 2 clinical study of its diabetes drug that may expand the treatment options for patients with Type 2 diabetes.

VTV also completed enrollment of Part B of its Phase 3 study of its Alzheimer’s drug, and expects data from Part A early next year.

“If positive, those data position vTv Therapeutics to be the first biopharmaceutical company to bring an investigational therapy before the FDA that could potentially delay progression of clinical symptoms of Alzheimer’s disease,” said Holcombe.

Research and development expenses in the second quarter were $9.6 million, down 20.8 percent from R&D expenses of $12.1 million in the second quarter of 2016.

Note: This story is from the North Carolina Business News Wire, a service of the UNC-Chapel Hill School of Media and Journalism