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.
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
|SOURCE CryoCor, Inc.|
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