Share of emerging photodynamic therapy market may be 80%.
Dick Martin
Laserscope Presents Update on Innovative Cancer Treatment at Cruttenden Roth Growth
Stock Conference
PR Newswire, Friday, February 12, 1999 at 18:47
IRVINE, Calif., Feb. 12 /PRNewswire/ -- Laserscope (NASDAQ:LSCP) said
today that the Company believes its market share of the emerging U.S.
photodynamic therapy (PDT) laser market is now nearly 80 percent.
Speaking at the 11th Annual Cruttenden Roth Growth Stock Conference,
Richard Wood, Laserscope's Director of Investor and Corporate Relations, said
"Sales of the Company's PDT Laser Systems, while still less than 10 percent of
overall Company revenues, are encouraging and appear to be getting a boost
from the U.S. Food and Drug Administration's December 23, 1998 approval of
photodynamic therapy (PDT) for the treatment of late-stage lung cancer, a
unique treatment which utilizes the Company's laser systems and the drug
PHOTOFRIN(R)."
PDT is an innovative, outpatient, non-surgical treatment that uses lasers,
disposable fiber optic devices, and light-sensitive pharmaceuticals to
selectively destroy cancerous cells with virtually no damage to healthy
tissue. PDT using Laserscope lasers is also being investigated in clinical
trials for the treatment of atherosclerotic cardiovascular disease. In the
cardiovascular application, early clinical data indicates that PDT dissolves
plaque in blood vessels with little or no damage to surrounding blood vessel
walls.
Laserscope is the world leader in lasers and disposable fiber optic
devices for use in photodynamic therapy with 65 systems installed at cancer
treatment centers around the world. The Company developed its unique PDT
capabilities by capitalizing on its own position as a leading manufacturer of
fiber optics, solid-state medical laser systems and working diligently for
more than eight years with leading-edge pharmaceutical firms. Its drug
partners and collaborators include QLT PhotoTherapeutics (manufacturer of
PHOTOFRIN(R)), Sanofi Pharmaceuticals, Beaufour-Ipsen, Pharmacyclics,
Pacific Pharmaceuticals and Scotia QuantaNova.
Statements in this announcement about future results are preliminary and
based on partial information and assumptions, and actual results may differ.
Except for historical information presented, the matters discussed in this
announcement contain forward-looking statements that involve risks and
uncertainties, including the continued development and growth of new markets
and treatments such as PDT, the timing of future FDA approvals relating to
PDT, the impact of competitive products and technologies, physician and
consumer acceptance and demand for the medical procedures targeted by the
company, general economic conditions in the U.S. and abroad, and other risks
detailed from time to time in the company's public disclosure filings with the
U.S. Securities and Exchange Commission (SEC). Copies of Laserscope's most
recent forms 10K and 10Q are available upon request from its Investor
Relations Department.
More information on Laserscope can be found on the Internet at
www.laserscope.com or www.photodynamictherapy.com.
SOURCE Laserscope
-0- 02/12/99
/CONTACT: Richard Wood, Director of Investor and Corporate Relations, or
Dennis LaLumandiere, Vice President and CFO of Laserscope, 408-943-0636; or
Larry Selwitz of Fin-Com, 562-493-2770, for Laserscope/
/Web site: photodynamictherapy.com
/Web site: laserscope.com
Companies or Securities discussed in this article:
Symbol
Name
NASDAQ:LSCP
Laserscope |
