New Symbol for Theragenics : NYSE: TGX
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NORCROSS, Ga.--(BUSINESS WIRE)--Aug. 6, 1998--
First Woman Chairman/CEO to Ring NYSE's Opening Bell to Commemorate Exchange Move
Theragenics Corporation (NYSE: TGX), the metro Atlanta-based cancer treatment producer, today began trading its stock on the New York Stock Exchange. It was previously listed on the NASDAQ where it traded under the symbol "THRX" since 1986. This event is even more notable considering Theragenics' M. Christine Jacobs is the first female chairman/chief executive officer to lead a transfer from NASDAQ and ring the NYSE's opening bell on the first day of trading.
"We view this transfer to the NYSE as a significant step in our continuing growth and development as a public company," said Jacobs, Theragenics chairman, president and CEO. "Maintaining liquidity while decreasing volatility is the expected outcome from this move. These qualities and the high standards required by member companies and their specialist firms are attractive to Theragenics and its board of directors."
Backed by 30 quarters of profitability, Theragenics has produced an unbroken succession of earnings for its shareholders. Responsible for more than 700 percent stock appreciation, two private placements and a secondary offering for expansion and R&D, Jacobs is proud of her track record. Ironically, she leads a company that produces a treatment for prostate cancer, an exclusively male disease. Jacobs also is one of a few women in the U.S. to head a public company in the biomedical field.
Theragenics' mission is "to cure at least one patient of cancer with every order we ship." It strives to reach its goal through the manufacture and distribution of the FDA-licensed medical device, TheraSeed(R). This rice-sized device is used by more than 500 medical centers throughout the U.S., resulting in 1997 sales in excess of $24 million.
TheraSeed, the company's prostate cancer product, enables a physician to introduce short-lived radioactive material directly into the cancer, thereby concentrating on diseased tissue and minimizing the effects on surrounding, healthy areas. Four key TheraSeed benefits include:
1) Effective one-time treatment: resulting in an equal to or better
than surgery cure rate for early stage prostate cancer; 2) Reduced costs: costs about half of radical surgery and about
two-thirds of external radiation; 3) Reduced undesirable side effects: fewer cases of impotence and
incontinence; and 4) Quicker recovery period: it is a minimally invasive procedure
performed on an outpatient basis.
According to the American Cancer Society, prostate cancer will affect one in three men over the age of 50 and is the most common cancer among men. Prostate cancer, a leading cause of cancer deaths among men, is second only to lung cancer.
Last year Theragenics signed an exclusive, worldwide marketing agreement with Indigo Medical Inc., a Johnson & Johnson company, to sell and market its product for prostate cancer. "As the number one healthcare company in the world, J&J is a partner of the size and stature necessary to drive the prostate cancer treatment market to heights previously unknown in brachytherapy or urology," states Jacobs.
"Although we have historically concentrated on the domestic market, receiving our CE Mark and shipping our first seeds to Europe in May represents a new opportunity to cure men of prostate cancer in global markets," comments Jacobs.
To meet the continuing demand for TheraSeed, Theragenics recently completed the construction of the first phase of its new production facility, now in operation in Buford, Ga. The 1998 expansion program will double the company's manufacturing capacity and make it the largest cyclotron operation in the world.
Theragenics Corporation, based in Norcross, Ga., is the manufacturer of TheraSeed - palladium-103, a rice-sized radioactive device used in the treatment of localized prostate cancer with a one-time, minimally invasive procedure. For additional information about the company, call Theragenics' Investor Relations Department at (800) 998-8479. The company's common stock is now traded on the NYSE under the symbol TGX.
CONTACT: Theragenics Corporation
Ron Warren - Director of Investor Relations
800/988-8479 or 770/381-8338
or
Debbie Wetherhead - Media Relations
770/971-9692
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