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Osteotech Reports First Quarter 2009 Financial Results
Date:4/30/2009

e Company is currently waiting on a final decision from the French Regulatory Agency before lifting its temporary suspension.

  • Osteotech continued to strengthen its distribution network and during the first quarter the Company introduced a variety of new sales tools and educational programs focused on procedure specific applications for Plexur P and Grafton(R) DBM.

  • Shortly after the end of the first quarter, the Company completed its 6-month posterolateral fusion study of its proprietary MagniFuse(TM) Bone Graft in primates. The initial analysis of the data indicates that the quality and quantity of bone growth formed is superior to autograft and is competitive with the performance seen with growth factors (BMP) that were tested within the same challenging animal model. The study investigators will be submitting the results of this study for a podium talk and abstract to be presented in early 2010 and these results will be made available to support the market introduction of MagniFuse at the North American Spine Society (NASS) meeting in November 2009. This study supports the Company's strategy to introduce application-specific products with documented scientific and technical support.

Financial Results

Revenue for the three months ended March 31, 2009 was $23.9 million compared with $27.6 million for the three months ended March 31, 2008. The decline in first quarter 2009 revenue compared with 2008 was primarily driven by the expected reduction in revenue from client services and private label demineralized bone matrix, the anticipated decline in revenue stemming from the Company's international activities as a result of the temporary suspension of Bulgarian tissue and lower domestic unit sales volume.

Net loss for the first quarter ended March 3
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SOURCE Osteotech, Inc.
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Related biology technology :

1. Osteotech to Present at Roth Capital Partners 2007 New York Investor Conference
2. Osteotech to Present at Sidoti Conference in San Francisco
3. Osteotech Announces Fourth Quarter and Full Year Earnings Release and Conference Call Schedule
4. Osteotech Reports 2007 Full Year and Fourth Quarter Financial Results; Full Year Revenue of $104.3 Million Exceeds $100 Million Milestone; Diluted Earnings Per Share Was $.15 in 2007
5. Osteotech to Present at the Canaccord Adams Small-Cap Orthopedics Conference in San Francisco
6. Osteotech Receives FDA Clearance for Plexur M(TM) Biocomposite
7. Osteotech to Present at the Sidoti Conference in New York
8. U.S. Patent Office Confirms Validity of Osteotechs U.S. Patent No. 5,676,146
9. Osteotech Announces First Quarter Earnings Release and Conference Call Schedule
10. Osteotech Renews Tissue Recovery Agreement with the Euro Atlantic Transplant Alliance
11. Osteotechs Plexur P(TM) Receives FDA Clearance as Bone Void Filler and Bone Graft Extender in Spine
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