Micro Therapeutics Requires Stock Buy

Micro Therapeutics Inc. said it has exercised an option requiring Abbott Laboratories, a distributor of the Irvine company’s blood clot therapy products, to purchase $3 million of Micro stock at $12 a share. Micro said it will issue 250,000 shares to Abbott, increasing Abbott’s total holdings in Micro to 1,212,628 shares, or a 14.8% stake. The stock closed Friday at $10.25 a share, up 44 cents, in Nasdaq trading. Micro Therapeutics, which makes and markets minimally invasive medical devices for the diagnosis and treatment of vascular disease, also posted a loss of $2.8 million, or 35 cents a share, for the second quarter, up from a net loss of $2.2 million, or 33 cents a share, a year ago. Sales declined 37% to $917,892.