The company has yet to turn a profit! So, yes! Very high stakes
investing in PLC. Very interesting! The next earning release date is
5/1/98 and the FDA review is pretty close to that event. Plenty of
open interest around the April 12 1/2 and 15s Calls. Thousands of
contracts in fact. Worth keeping an eye on!
AMEX: (PLC : $17 5/8) $302 million Market Cap at April 3, 1998
Loss Expected for 1998; Medical Equipment SubIndustry priced at 21.9X
PE.
======================================================================
Administration Advisory Panel on April 24, 1998
FRANKLIN, Mass., March 5 /PRNewswire/ -- PLC Systems Inc. (Amex:
PLC)today announced that a Food and Drug Administration (FDA)
Advisory Panel will review Transmyocardial Revascularization (TMR)
using The Heart Laser(TM)System on April 24, 1998. Announcement of
the review date is available on the FDA information line.
William C. Dow, President and CEO of PLC Systems Inc., stated,
"PLC was able to successfully complete the collection and analyses of
the 12 month data from the controlled-randomized study of TMR using
The Heart Laser System as requested by the July 28, 1997 FDA panel.
We believe this data continues to support the benefits of TMR using
PLC's laser and look forward to the panel's review."Written
notification of the circulatory system devices advisory panel meeting
is expected to be posted in the Federal Register approximately 30 days
prior to the meeting. All FDA advisory panel schedules are subject
to change.
TMR, or transmyocardial revascularization uses The Heart Laser
(TM) System, a high-powered, computer controlled carbon dioxide (CO2)
laser to create channels into oxygen deprived heart muscle of
coronary artery disease patients. Although the exact mechanism of
action is unknown, some researchers believe these channels provide
blood directly from the left ventricle to the deprived areas of the
heart muscle, while others believe some form of angiogenesis also
occurs. Recovery is generally quicker than that following bypass
surgery. No blood transfusion is needed and, since the procedure is
performed on a beating heart, there is no need for a heart-lung
machine. The characteristics of The Heart Laser System surgery offer
the potential of cost savings for the hospital and increased quality
of life for the patient.
PLC Systems Inc. is a cardiac revascularization company
developing medical systems and technology with the potential to
provide patients suffering from coronary artery disease an
alternative or adjunct to angioplasty and cardiac bypass surgery.
PLC Medical Systems, Inc., a wholly-owned subsidiary of PLC System
Inc., has developed the high-powered CO2 Heart Laser system which uses
the Company's patented technology for a new cardiosurgical procedure
known as Transmyocardial Revascularization (TMR). To date, more than
3,500 patients worldwide have received treatment with The Heart Laser
(TM) system.
NOTE: Certain of the statements may be forward looking statements
that involve risks and uncertainties. In such instances, actual
results could differ materially as a result of a variety of factors
including competitive developments, no guarantee of FDA approval and
other risk factors listed from time to time in the Company's SEC
reports.
SOURCE PLC Systems Inc.
-0- 03/05/98
/CONTACT: Investors: Michele Fasano, Director, Corporate Communications
of PLC Systems Inc., 800-211-7327/
(PLC)
CO: PLC Systems, Inc.
ST: Massachusetts
IN: MTC
SU: PDT |
