Lower Revenue, Reimbursement Progress for TranS1 (OTW)
TranS1 Inc. reported a 24% decline on $5.1 million of revenue during the first quarter of 2011.
“Our procedure volumes and revenues continue to be adversely affected by ongoing AxiaLIF physician reimbursement pressures,” commented Ken Reali, president and chief executive officer of the company on May 12. “The recent acceptance of two key clinical papers for publication in peer-reviewed journals will provide us with additional data to utilize with payors as we seek to gain additional positive coverage decisions. We also made significant progress in the quarter with our product pipeline as evidenced by the commencement of the limited market release of AxiaLIF 1L+.”