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Biotech / Medical : Cardiogenesis (cgcp)
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To: Joy who wrote (3)4/17/1997 6:11:00 PM
From: John Martin   of 66
 
Sales for the first quarter were $1.6 million from sales of the company's Intraoperative Transmyocardial Revascularization
(ITMR(TM)) System in Europe and into its clinical trial sites in the U.S., compared to ITMR sales of $0.6 million for the same period
in 1996. Net loss for the quarter ended March 31, 1997 was approximately ($3.6 million), or a net loss of ($0.30) per share on
11,982,000 weighted average shares outstanding, compared to a net loss of ($1.9 million), or a net loss per share of ($0.43) on
4,368,000 shares outstanding for the quarter ended March 31, 1996. The company closed the quarter with $55.2 million in cash.

We continue to expect to file a Pre-Market Approval (PMA) application for our ITMR System by the end of this year.

Entire release can be had at:
biz.yahoo.com
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