Navigation Links
Spectranetics to Appeal Decision in Patent Litigation
Date:9/13/2007

Damages Fully Accrued in Financial Statements

COLORADO SPRINGS, Colo., Sept. 13 /PRNewswire-FirstCall/ -- Spectranetics Corporation (Nasdaq: SPNC) today announced it plans to appeal the verdict in a patent litigation dispute with Dr. Peter Rentrop in the U.S. District Court in the Southern District of New York. The preliminary jury award of $500,000 to Dr. Rentrop has been accepted by the judge following a review of post-trial motions. The preliminary jury award of legal fees to Dr. Rentrop in the amount of $150,000 was denied by the judge. Dr. Rentrop has filed motions seeking to declare this case "exceptional" and is seeking legal fees as well as pre-judgment and post-judgment interest. These motions have not been ruled on by the Court.

"We have now filed our notice of appeal and intend to pursue all appeal options vigorously," said John G. Schulte, Spectranetics' President and Chief Executive Officer. "All costs associated with the preliminary jury verdict were accrued in our financial statements for the three and twelve months ended December 31, 2006 and we have been and will continue accruing a 5% royalty on all sales of Point 9 millimeter catheters, pending the outcome of our appeal."

About Spectranetics

Founded in 1984, Spectranetics manufactures and sells the only excimer laser approved in the United States, Europe and Japan for use in minimally invasive cardiovascular procedures. This technology treats complex cardiovascular conditions by photo-ablating multiple lesion types into tiny particles that are easily absorbed into the blood stream. The Company's disposable catheters use high-energy "cool" ultraviolet light to vaporize arterial blockages in the legs and heart, as well as scar tissue encapsulating pacing and defibrillation leads. For more information visit http://www.spectranetics.com.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties may include increasing price and product competition, increased pressure on expense levels resulting from expanded marketing and clinical activities, uncertain success of the Company's strategic direction, dependence on new product development, intellectual property claims of third parties, availability of inventory from suppliers, the receipt of FDA approval to market new products or applications and the timeliness of any approvals, the potential size of market opportunities associated with new products, market acceptance of new products or applications, product defects, unexpected delays or costs associated with the Company's relocation and consolidation of its headquarters and manufacturing operations, price volatility due to the initiation or cessation of coverage, or changes in ratings, by securities analysts. For a further list and description of such risks and uncertainties that could cause the actual results, performance or achievements of the Company to be materially different from any anticipated results, performance or achievements, please see the Company's previously filed SEC reports. Spectranetics disclaims any intention or obligation to update or revise any financial projections or forward-looking statements, whether as a result of new information, future events or otherwise.

COMPANY CONTACT: INVESTOR RELATIONS CONTACTS:

Spectranetics Corporation Lippert/Heilshorn & Associates, Inc.

Guy Childs, Chief Financial Officer Bruce Voss

(719) 633-8333 Don Markley

http://www.spectranetics.com (310) 691-7100

http://www.lhai.com

MEDIA RELATIONS CONTACT:

Schwartz Communications, Inc.

Stacey Holifield

(781) 684-0770

spectranetics@schwartz-pr.com


'/>"/>
SOURCE Spectranetics Corporation
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Kalam Appeals to Eradicate Hearing Disability
2. UNAIDS Chief Appeals for Projects to Battle AIDS/HIV
3. An appeal by an epilepsy doctor in UK against his hospital
4. Cancer Patient Loses Embryo Appeal
5. Cancer Patient to Appeal to SC, Demanding Right to Use Marijuana
6. Man Appeals to President to Save His Ailing Son
7. Appeals Against The New Resolution By NICE Increases
8. 12 Chinese Firms Appeal Against Court Ruling On Viagra
9. Hospitals Appeal to Citizen Groups to Rush Doctors, Paramedicals
10. Unicef Appeals To Prioritize Children In Fight Against AIDs
11. Swiss Group Appeals Invocation of Euthanasia Option For The Severely Depressed
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... ... June 24, 2016 , ... June 19, 2016 is World Sickle Cell Observance ... and the benefits of holistic treatments, Serenity Recovery Center of Marne, Michigan, ... Disease. , Sickle Cell Disease (SCD) is a disorder of the red blood cells, ...
(Date:6/24/2016)... , ... June 24, 2016 , ... ... and Scientific Sessions in Dallas that it will receive two significant new grants ... grants came as PHA marked its 25th anniversary by recognizing patients, medical professionals ...
(Date:6/24/2016)... , ... June 24, 2016 , ... ... offering micro-osteoperforation for accelerated orthodontic treatment. Dr. Cheng has extensive experience with all ... brackets , AcceleDent, and accelerated osteogenic orthodontics. , Micro-osteoperforation is a revolutionary ...
(Date:6/24/2016)... ... June 24, 2016 , ... Topical BioMedics, Inc, makers of Topricin and MyPainAway Pain Relief ... a minimum wage raise to $12 an hour by 2020 and then adjusting it yearly ... lost value of the minimum wage, assure the wage floor does not erode again, and ...
(Date:6/24/2016)... ... 24, 2016 , ... EB Medicine presented its first-ever “Issue ... conference in Ponte Vedra Beach, FL. The awards honor the outstanding work of ... and Pediatric Emergency Medicine Practice. , “With this award, we recognize the ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... Research and Markets has ... 2015-2025: Applications, Technologies, Forecasts" report to their ... Electronics, Smart Skin, Structural Health Monitoring, Composite Smart ... electronics involves electronic and/or electrical components and circuits ... structures such as vehicle bodies or conformally placed ...
(Date:6/24/2016)... Research and Markets has announced the addition of the ... to their offering. ... World Market for Companion Diagnostics covers the world market for ... report includes the following: , World IVD ... (N. America, EU, ROW), 2015-2020 , World IVD Companion ...
(Date:6/24/2016)...  Arkis BioSciences, a leading innovator in the ... cerebrospinal fluid treatments, today announced it has secured ... led by Innova Memphis, followed by Angel Capital ... Arkis, new financing will accelerate the commercialization of ... of its in-licensed Endexo® technology. ...
Breaking Medicine Technology: