Tandem Diabetes Care Inc., a medical device company and manufacturer of insulin pumps, announced in a statement Tuesday that it intends to raise $60 million in an underwritten public offering.

The San Diego-based company also announced its fourth-quarter and full-year earnings. Tandem reported a net loss of $79.5 million for the year, up from a $63.1 million net loss in 2013. Sales climbed to $49.7 million in 2014, up from $29 million the previous year.

The company reported a net loss of $10.5 million for the fourth quarter, down from a $23.6 million net loss for the same quarter last year. Fourth-quarter revenue grew to $17.9 million, up from $10.2 million in the fourth quarter of 2013.

Tandem is trading on the Nasdaq under the ticker symbol TNDM.