COSTA MESA, Calif., Aug. 15 /PRNewswire-FirstCall/ -- CNS Response, Inc. (OTC Bulletin Board: CNSO) today announced financial results for its fiscal third quarter ended June 30, 2007. CNSO is a life sciences company focused on the commercialization of its patented referenced-EEG ("rEEG(SM)"), system that guides psychiatrists and other physicians to determine proper treatments for patients with behavioral (mental or addictive) disorders. This technology allows CNSO to create and provide simple reports ("rEEG Reports") that specifically guide physicians to treatment strategies based on the patient's own physiology.
Net revenues for the three-month period ended June 30, 2007 were $69,800, an increase of 64% from net revenues of $42,500 during the same period last year. The Company delivered 179 rEEG Reports in the quarter ended June 30, 2007 as compared to 106 rEEG Reports for the comparable period in 2006 while the average price of a report remained constant at approximately $400 per report. The Company does not expect a material increase in revenues until 2008 when it anticipates having completed an ongoing multi-site clinical study to validate the efficacy of its rEEG technology.
"Consistent with the plan we have previously disclosed, we have dedicated our resources to pursuing a series of infrastructure goals prior to a more aggressive marketing of rEEG. Included in these events is a key ongoing clinical trial that is now being conducted in five sites," commented Len Brandt, Chief Executive Officer of CNS Response. "We will make our first progress report on this trial in the fall. This trial is based on one of our eight smaller trials that have shown that rEEG guided therapy, when used in conjunction with other standard clinical information, guided physicians to successful outcomes of these mostly treatment resistant patients. We are confident that our current multi-site study will show similar results and further validate our technology."
|SOURCE CNS Response, Inc.|
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