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PLC Systems Q1 Revenues Dip

PLC Systems, a company focused on cardiac and vascular medical device-based technologies, has reported revenues of $1.06m for the first quarter ended Mar 31, 2010, compared to $1.56m for the comparable period in 2009.

PLC Systems has posted a net loss of $0.56m for the first quarter 2010, or $ 0.02 per diluted share, compared to $0.35m, or $ 0.01 per diluted share, for the comparable period in 2009. Loss from operations was $0.56m, compared to $0.35m for the comparable period in 2009.

Mark Tauscher, president and CEO of PLC Systems, said: “We believe that the continuing stream of positive scientific evidence that RenalGuard is safe and effective at significantly reducing rates of Contrast-Induced Nephropathy (CIN) in at-risk patients will assist us in our efforts both to engage potential partners and additional distributors as well as accelerate adoption in the markets where it is now available.

“Both of the investigator-sponsored clinical trials of our RenalGuard System now underway in Italy, Mythos and Remedial II, have reported consistent, positive interim results, and they continue to enroll more patients in order to provide even stronger scientific data in support of RenalGuard.

“Furthermore, we have now received two additional Notices of Allowance covering RenalGuard patents in the US, bringing the total to four, and expect patents to be issued shortly.

“RenalGuard revenues in the first quarter this year reflected sales in four countries, as we expand beyond our initial launch in Italy and Spain, the first two countries where RenalGuard has been available in the EU.”