Feb 11 2010
NMT Medical, Inc. (NASDAQ: NMTI) today announced that it expects to report full year 2009 revenues of approximately $13.2 million – within the Company’s previously-announced guidance range of $13 million to $14 million. For the fourth quarter of 2009, NMT expects to report revenues of approximately $3.6 million compared with $3.0 million in the third quarter of 2009 and $4.4 million in the year-ago quarter.
“Our pivotal patent foramen ovale (PFO)/stroke and transient ischemic attack (TIA) trial in the United States, CLOSURE I, remains our top priority”
NMT also expects to report a year-end balance of cash and cash equivalents of approximately $8.9 million. As previously reported, NMT reached a settlement during the fourth quarter in its patent infringement lawsuit with W.L. Gore & Associates, resulting in a $2.75 million cash payment to NMT.
“Our pivotal patent foramen ovale (PFO)/stroke and transient ischemic attack (TIA) trial in the United States, CLOSURE I, remains our top priority,” said President and Chief Executive Officer Frank Martin. “As previously announced, data analysis for the trial is expected to be initiated in April 2010. We believe that commencing the data review at that time will allow us to submit a Pre-Market Approval (PMA) application during the third quarter of 2010, assuming a positive outcome.”
Decoding the genetic roots of stroke and heart attack