-- Bioheart initiated its patient registry clinical trial protocol for
MyoCell with MyoCath(R) Injection Catheter delivery in Korea, Singapore
and Switzerland, adding to the number of patients enrolled and
commitment to purchase Bioheart catheters for research purposes.
Other Business Highlights
-- On March 17, 2008, the Company was awarded a U.S. Patent for a method
to repair damaged myocardium (heart tissue) by a combination of cell
transplantation and electrostimulation. The award of this patent brings
to more than 100 the number of related patents and patents pending to
which the Company holds rights. The patent covers methods for repairing
damaged heart tissue by providing electrostimulation to patient-derived
myogenic cells either in the laboratory, while the cells are expanding,
or after the cells are implanted into the damaged areas of the
-- The May 2008 issue of Cath Lab Digest featured an article on MyoCell
Therapy and the SEISMIC Trial and an interview with Warren Sherman, MD,
Director, Cardiac Cell-based Endovascular Therapies, Columbia
University Medical Center, New York, New York and Principal
Investigator of the MYOHEART Trial and the Phase II/III MARVEL Trial.
Revenues for the quarter ended March 31, 2008 increased to $25,995
compared to $13,805 in first quarter of 2007. During the quarter, we also
recognized $61,500 of development revenue for services performed under a
clinical registry agreement. The Company reported a net loss for the first
quarter of 2008 of $3.3 million, or $(0.24) per share, compared to a net
loss of $2.3 million, or $(0.18) per share, for the same quarter last year.
The increase in the Company's net loss in the first quarter of 2008 as
compared to the first quarter of 2007 is primarily attributable to
increased interest expense r
|SOURCE Bioheart, Inc.|
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