Dextera Surgical Announces Preliminary Fiscal 2017 Third Quarter Financial Highlights
April 24 2017 - 8:30AM
Business Wire
-- Full Financial Results to be Announced
May 4, 2017 --
Dextera Surgical Inc. (Nasdaq:DXTR), a company commercializing
and developing the MicroCutter 5/80TM stapler based on its
proprietary ‘‘staple-on-a-strip’’ technology intended for use by
thoracic, pediatric, bariatric, colorectal and general surgeons,
today announced preliminary financial results for the fiscal 2017
third quarter ended March 31, 2017.
For the three months ended March 31, 2017, total revenue was
approximately $1.1 million, including MicroCutter product sales of
approximately $500,000. Operating costs and expenses were
approximately $5.3 million with a net loss of approximately $4.4
million. The cash balance at March 31, 2017, was approximately $2.5
million and total stockholders’ deficit was approximately $3.7
million.
Dextera Surgical notes that these preliminary revenue results
are unaudited and subject to change. Full fiscal 2017 third quarter
financial results will be reported on May 4, 2017, after the
markets close.
About Dextera Surgical
Dextera Surgical (Nasdaq:DXTR) designs and manufactures
proprietary stapling devices for minimally invasive surgical
procedures.
Dextera Surgical also markets automated anastomosis devices
for coronary artery bypass graft (CABG) surgery on the market
today: the C-Port® Distal Anastomosis Systems and PAS-Port®
Proximal Anastomosis System. These products are sold
by Dextera Surgical under the Cardica brand name.
Forward-Looking Statements
The statements in this press release regarding Dextera
Surgical’s preliminary financial results are "forward-looking
statements." There are a number of important factors that could
cause Dextera Surgical’s results to differ materially from those
indicated by these forward-looking statements, including the risks
detailed from time to time in Dextera Surgical’s reports filed with
the U.S. Securities and Exchange Commission, including its
Quarterly Report on Form 10-Q for the quarter ended December
31, 2016, under the caption “Risk Factors.” Dextera Surgical
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein. You are encouraged to read Dextera Surgical’s
reports filed with the U.S. Securities and Exchange Commission,
available at www.sec.gov.
Dextera Surgical has filed a registration statement (including a
preliminary prospectus dated April 21, 2017) with the Securities
and Exchange Commission, or SEC, for the offering to which this
communication relates. Before you invest, you should read the
preliminary prospectus and the other documents Dextera Surgical has
filed with the SEC for more complete information about it and the
offering. You may get these documents for free by visiting EDGAR on
the SEC web site at www.sec.gov. Alternatively, Dextera Surgical,
the underwriter or any dealer participating in the offering will
arrange to send you copies if you request them by contacting
Ladenburg Thalmann & Co. Inc., 277 Park Avenue, 26th Floor, New
York, New York 10172 or by e-mail at prospectus@ladenburg.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170424005381/en/
Dextera Surgical Inc.Bob Newell, 650-331-7133Vice President,
Finance and Chief Financial
Officerinvestors@dexterasurgical.com