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CryoCor Reports 2007 Results
Date:3/20/2008

early 2006 of $491,000, lower operating costs associated with the closure of CryoCor GmbH in mid-2006 of $849,000, and lower non-cash share- based compensation of $570,000. These decreases were partially offset by higher legal costs of $666,000 and recruiting costs associated with the search for a Vice President of Sales and Marketing of $120,000. Included in general and administrative expenses for the years ended December 31, 2007 and 2006 were non-cash stock-based compensation of $849,000 and $1.4 million, respectively.

The losses from operations for the three months and the full year ended December 31, 2007 were $4.4 million and $15.8 million respectively, compared to $3.8 million and $15.1 million for the same periods in 2006. Basic and diluted net loss per share for the year ended December 31, 2007 was $1.31.

Cash, cash equivalents and short-term investments were $12.3 million as of December 31, 2007, and CryoCor anticipates receiving an additional $4.0 million under its development and license agreement with BSC. CryoCor expects that its cash resources and the additional cash that it expects to receive from BSC will be used to finance the Company until the fourth quarter of 2008 and that additional financing will be needed in order to finance the Company beyond that date.

About CryoCor

CryoCor is a medical technology company that has developed and manufactures a disposable catheter system based on its proprietary cryoablation technology for the minimally invasive treatment of cardiac arrhythmias. The Company's product, the CryoCor Cardiac Cryoablation System, or the Cryoablation System, is designed to treat cardiac arrhythmias through the use of cryoenergy, or extreme cold, to destroy targeted cardiac tissue. The Cryoablation System has been approved in Europe for the treatment of atrial fibrillation and atrial flutter, the two most common and difficult to treat arrhythmias, since 2002. In the United States, the Cryoablation System
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SOURCE CryoCor, Inc.
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