AirXpanders Inc Revenue growth

Revenue growth: AirXpanders Inc (ASX: AXP) reported full year 2016 financial results with revenues of US$570,316. The revenue growth was driven by sales of the Aeroform®Tissue Expander System that increased 95% from 2015 levels. Operating expenses stood at US$15.2 million mainly led by investment in sales, market and administrative expenses in preparation for U.S. commercial launch and the continued scaling up of manufacturing. As of December 31, 2016, the company recorded cash, deposits at call and long term fixed interest term deposits of US$11.5 million as of December 31, 2016. The net loss for the year surged to $19,422,897 compared to $11,161,345 for the previous corresponding period. AXP recently received commitments to raise $45 million for building inventory for the U.S. market, accelerating investment for U.S. sales and marketing and completing commercial manufacturing capacity expansion. The group has also received a patent in the US for its AeroForm Device. The stock plunged 38.4% in last six months and surged 9.4% in last one month (as at March 27, 2017). AXP has been added to All Ordinaries Index effective March 20, 2017.

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