Navigation Links
VentriPoint Diagnostics Files Management Discussion and Analysis, Unaudited Financial Results for 2Q 2008
Date:8/29/2008

New Date for Anticipated VentriPoint Diagnostic System Launch, Alpha

Testing Commencement Highlight Management Discussion and Analysis

SEATTLE, Aug. 29 /PRNewswire-FirstCall/ -- VentriPoint Diagnostics (TSX: VPT) today announced that it has filed its management discussion and analysis (MD&A), as well as its unaudited financial results for the three months ended June 30, 2008, with the Canadian Securities Administrators through the SEDAR filing system.

Development Highlights

In its MD&A, VentriPoint describes that because of the recent accomplishments by its development team, the commercial product release of the VentriPoint Diagnostic System is now anticipated to commence in January 2009 instead of March 2009 as previously expected. Other recent milestones include the approval and commencement of alpha testing, transition of the Knowledge Reconstruction Database to its commercial and secure off-site facility, and initiation of the design and production of the product training guide and user's manual.

"Our team has been working diligently to bring the VentriPoint Diagnostic System to market to offer accurate heart measurements in a rapid and inexpensive manner that is not currently available," said Joseph Ashley, CEO of VentriPoint Diagnostics. "We have commenced in-house alpha testing, and we look forward to shipping our units for beta testing in October."

Financial Highlights

In its unaudited financial results, VentriPoint reported a consolidated net loss of $1,062,182 for the three months ended June 30, 2008, or $0.03 per share, compared to a net loss of $193,038, or $0.02 per share for the three months ended June 30, 2007. The increase in net loss is attributed to planned expenditures to accelerate the development of the VentriPoint Diagnostic System.

For the three months ended June 30, 2008, research and development expenses totaled $651,276, compared to $143,563 for the three months ended June 30, 2007. The largest research and development expense for the three months ended June 30, 2008 was payroll costs to build a highly qualified research and development team.

VentriPoint reported a foreign exchange loss of $99,568 as the result of a change in the currency exchange rate used to translate Canadian monetary items into the US dollar on the date of translation of June 30, 2008.

About VentriPoint Diagnostics

VentriPoint creates diagnostic tools to monitor patients with heart disease -- the number one cause of death in developed countries. By using images produced from existing medical imaging systems, the VentriPoint Diagnostic System generates accurate heart measurements in a rapid and inexpensive manner not currently available. This breakthrough diagnostic tool is based upon patented technology received by VentriPoint through its exclusive technology license with the University of Washington. The VentriPoint Diagnostic System, together with its associated online service, is being developed for a variety of heart related disease states, including congenital heart disease.

For further information, please contact:

Edward Garth, Chief Financial Officer

VentriPoint Diagnostics Ltd.

Telephone: (206) 283-0221, ext. 402

Facsimile: (206) 283-2309

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

VentriPoint Media Contact:

Russo Partners LLC

Ian Stone

(619) 814-3510

ian.stone@russopartnersllc.com


'/>"/>
SOURCE VentriPoint Diagnostics
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. VentriPoint, University of Washington Sign Research and Technology Development Agreement
2. Strategic Diagnostics to Present at Two Upcoming Investor Conferences
3. Strategic Diagnostics Updates Roth Conference Presentation Time
4. Alliance for Medical Devices, Instrumentation and Diagnostics formed between Fraunhofer Center for Manufacturing Innovation and Boston University
5. Rosetta Genomics to Present at the American Association of Cancer Research (AACR) "Molecular Diagnostics in Cancer Therapeutic Development" Conference
6. Indivumed Supports Roche Diagnostics With Immunohistochemistry Services and Clinical Specimens for Biomarker Discovery and Drug Development
7. Quest Diagnostics to Speak at the 2007 UBS Global Life Sciences Conference
8. BoVir(R) Named Best New Veterinary Diagnostics Product in International Animal Pharm Awards
9. Enigma Diagnostics Announces a European Commission Award of EUR3 Million to Fund the Development of a Point of Care Platform for the Rapid Diagnosis of Influenza Infections
10. MedAssets Supply Chain Systems Selects Siemens Medical Solutions Diagnostics for Chemistry, Automation and Immunoassay Solutions
11. Quest Diagnostics Joins National ePrescribing Patient Safety Initiative (NEPSI)
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/21/2017)... S.C. (PRWEB) , ... September 21, 2017 , ... ... turned bright neon green this month, the response was swift and efficient thanks ... ( RRWQG ). RRWQG is made up of more than 50 stakeholders, including ...
(Date:9/21/2017)... ... September 21, 2017 , ... Biorez, ... election of Paul Hermes, Entrepreneur in Residence at Medtronic, Inc., to serve as ... a proprietary, tissue-engineered scaffold for anterior cruciate ligament (ACL) reconstruction that is designed ...
(Date:9/20/2017)... ... September 20, 2017 , ... Cybrexa Therapeutics ... Paralkar to the role of chief scientific officer. In this role, Dr. Paralkar ... Cybrexa’s president and CEO, Per Hellsund. , “I was impressed with Cybrexa’s revolutionary ...
(Date:9/20/2017)... ... September 20, 2017 , ... ... leading global provider of engineering, architecture, project controls, construction management, commissioning and ... today announced the unveiling of the iCON™ brand which represents the collective ...
Breaking Biology Technology:
(Date:4/24/2017)... -- Janice Kephart , former 9/11 Commission ... LLP (IdSP) , today issues the following statement: ... 6, 2017 Executive Order: Protecting the Nation ... instilled with greater confidence, enabling the reactivation of ... are suspended by until at least July 2017). ...
(Date:4/13/2017)... According to a new market research report "Consumer IAM Market ... Authorization), Service, Authentication Type, Deployment Mode, Vertical, and Region - Global Forecast ... from USD 14.30 Billion in 2017 to USD 31.75 Billion by 2022, ... ... MarketsandMarkets Logo ...
(Date:4/6/2017)... -- Forecasts by Product Type (EAC), Biometrics, ... (Transportation & Logistics, Government & Public Sector, Utilities / ... Facility, Nuclear Power), Industrial, Retail, Business Organisation (BFSI), Hospitality ... looking for a definitive report on the $27.9bn Access ... ...
Breaking Biology News(10 mins):