Benzinga | Jul 8, 2021 09:42AM EDT

Nephros Sees 40% Increase In Q2 Sales, Submits HDF Product For FDA Approval

* Nephros Inc (NASDAQ:NEPH) has announced preliminary results and expects Q2 sales of approximately $2.2 million, representing a Y/Y increase of 40%

* "Revenue growth seems to be returning to pre-pandemic levels. In addition, revenue for the six months ended June 30, 2021, is expected to be over $5 million, a 20% increase over the same periods in 2020 and 2019, which we believe puts us in a strong position going into the second half of the year", said CEO Andy Astor.

* In addition, the Company submitted its Hemodiafiltration (HDF) System Assist Module for FDA 510(k) clearance.

* "Pending this FDA clearance, SRP is preparing for commercial launch at a limited number of dialysis clinics."

* Nephros ended the second quarter with approximately $8.3 million in cash on a consolidated basis.

* Nephros will formally announce its second-quarter results on August 5.

* Price Action: NEPH shares are down 0.95% at $9.55 on the last check Thursday.