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Biotech / Medical : World Heart Corp - WHRT and TSE/WHT
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To: the Chief who wrote (178)1/18/1999 3:27:00 PM
From: kidl  Read Replies (1) of 500
 
World Heart's preliminary 1998 results
World Heart Corp WHT
Shares issued 12,243,000 Jan 15 close $19.20
Mon 18 Jan 99 News Release
Ms. Sandy Armstrong reports
Net operating revenues for 1998 will be minimal, at $19,062, reflecting initial sales of the company's energy and information transfer system in the third quarter. No operating revenues were recorded in 1997. Total loss for the year is expected to be $3.7-million or 300 per share, compared with $9.4-million or 930 per share for 1997. These results are consistent with company forecasts.
Preliminary forecasts for 1999 indicate no material operating revenues and total expenditures of approximately $12-million, or $1.00 per share, reflecting costs of preclinical trials and initial clinical use. The company continues to expect first human implant of the device in 1999, subject to Health Canada approval. Progress in 1998 continued to be consistent with this target. The initial operation of the final preclinical device began in January 1999, approximately three weeks behind the schedule previously announced. It is not expected that this difference in timing will materially affect the timing of first human implant. WARNING: The company relies upon litigation protection for “forward-looking” statements.
© Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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