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Cynosure Reports Financial Results for the First Quarter of 2011
Date:5/3/2011

t was below our expectation for the quarter, primarily related to the purchase accounting adjustment."

"We continue to maintain a strong balance sheet, concluding the 2011 first quarter with cash, marketable securities and investments of $95.6 million, even with our $2.5 million cash acquisition of the Eleme Medical assets," Davin continued. "In addition, we generated positive cash flow from operations of $1.8 million, underscoring our focus on effectively managing operating expenses as we invested in product development initiatives related to our new cellulite reduction platform."During the first quarter, Cynosure launched the non-invasive SmoothShapes XV system, which the company acquired as part of the asset purchase of Eleme Medical.  SmoothShapes XV was introduced through Cynosure's direct sales force in North America, and its international distribution channel, including its direct subsidiaries in the European Union.  In addition, Cynosure launched the Cellulaze™ Cellulite Laser Workstation in the European Community and established three Cellulaze clinical sites led by physician luminaries in the EU to train plastic surgeons and dermatologists on the use of the minimally invasive procedure.   In the United States, the company's 510(k) application for marketing clearance of Cellulaze is undergoing review by the U.S. Food and Drug Administration.

Recent Highlights

  • Two New Cellulaze Studies:  Two U.S. clinical studies using the Cellulaze workstation were presented at the recent Annual Scientific Conference of the American Society for Laser Medicine and Surgery.  A preliminary study of 10 patients concluded that a single treatment with Cellulaze improves the appearance of cellulite and that improvement persists for at least one year with minimal adverse effects. Another study of 15 subjects concluded that a sidelight three-dimensional optical fiber and 1440 nm Nd:YAG laser, which is used i
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  • SOURCE Cynosure, Inc.
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