FRANKLIN, Mass., Aug. 16 /PRNewswire-FirstCall/ — PLC Systems
Inc. (OTC Bulletin Board:
PLCSF), a company focused on innovative cardiac and vascular
medical device-based technologies, today reported financial results
for the three- and six month periods ended June 30, 2010.
Second quarter 2010 total revenues were $1,019,000, a decrease
from $1,220,000 reported in the second quarter of 2009, and a
decrease of $43,000 from $1,062,000 reported in the first quarter
of 2010. The net loss for the second quarter of 2010 was $199,000,
or $0.01 per basic and diluted share, compared to a net loss of
$307,000, or $0.01 per basic and diluted share, in the second
quarter of 2009.
Mark R. Tauscher, president and chief executive officer of PLC
Systems Inc., stated, “We were very pleased in the past quarter to
share the positive scientific evidence that RenalGuard® is safe
and effective at significantly reducing rates of Contrast-Induced
Nephropathy (CIN) in at-risk patients with our current and
potential distributors in Europe during EuroPCR. The number of
single-use sets for RenalGuard procedures shipped during the second
quarter this year reached the highest level yet, 589 units, which
is 55% higher than the second quarter last year and 100% higher in
the first half of 2010 than in the prior year period. While the
speed of adoption and use of RenalGuard is never as fast as we
would wish, we believe these numbers demonstrate that we are making
progress in the European Union countries where it is available.
The two investigator-sponsored clinical trials of our
RenalGuard System™ underway in Italy, MYTHOS and REMEDIAL II,
continue to enroll more patients, and we anticipate that they will
be completed and report final results on top of the consistently
positive interim results we have seen, later this year. We
believe this data, in addition to our enhan
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