XTENT Announces 2007 Financial Results( MENLO PARK Calif. Feb. 19 /- XTEN...),Health

MENLO PARK, Calif., Feb. 19 /PRNewswire-FirstCall/ -- XTENT, Inc. (Nasdaq: XTNT) today reported financial results for the fourth quarter and year ended December 31, 2007.

The company reported a net loss and net loss attributable to common stockholders of $11.9 million, or $0.52 per share, for the fourth quarter of 2007, compared to a net loss and net loss attributable to common stockholders of $7.2 million, or $2.46 per share, for the same period in 2006. The company's net loss per share attributable to common stockholders for the fourth quarter of 2007 was based on weighted average shares outstanding of 22.8 million as compared to 2.9 million weighted average shares outstanding for the quarter ended December 31, 2006.

For the year ended December 31, 2007, XTENT had a net loss of $38.8 million, compared to $25.0 million for the same period in 2006. The net loss attributable to common stockholders was $38.8 million for the year ended December 31, 2007, compared to $38.1 million for the same period in 2006. At December 31, 2007, XTENT had cash, cash equivalents and short-term investments of $57.8 million.

Research and development expenses increased to $9.2 million in the fourth quarter of 2007 from $5.5 million for the same period in 2006, primarily due to an increased number of research and development personnel, expenditures for prototype parts and supplies as well as costs incurred for clinical trials. General and administrative expenses were $3.4 million in the fourth quarter of 2007 versus $2.0 million for the same period in 2006, primarily due to an increase in personnel costs related to the hiring of additional employees as well as consulting and professional services associated with operating as a public company
'/>"/>