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XTENT Announces Second Quarter 2008 Financial Results and Business Progress
Date:8/6/2008

taled $6.8 million compared to $5.3 million for the same period in 2007.

On July 9, 2008, XTENT announced the implementation of cost reduction initiatives through a workforce reduction of approximately 34 percent. The company expects to incur approximately $300,000 to $400,000 in expenses in connection with this workforce reduction including approximately $100,000 of non-cash expenses. Most of the expenses will be incurred during the third quarter of 2008. Average cost savings from the workforce reduction initiative, combined with other cost saving initiatives planned by the company, is anticipated to be approximately $1.3 million each month.

"We recently conducted a review of our business and made the difficult decision of reducing headcount in order to ensure that we remain in a strong position to bring our Custom NX(R) drug eluting stent (DES) system to the millions of patients worldwide who suffer from coronary artery disease," said Gregory D. Casciaro, XTENT's President and Chief Executive Officer. "We continue to be pleased with the safety profile and efficacy data of Custom NX in today's real-world patients, and look forward to providing additional long term follow up data at the upcoming Transcatheter Cardiovascular Therapeutics meeting in October."

Second Quarter 2008 Highlights

-- Presented positive CUSTOM III six-month follow-up data during the Late Breaking Trials Session at EuroPCR.

-- Received EuroIntervention award for CUSTOM I two-year results at EuroPCR.

Regulatory Update

XTENT also announced that it recently received a response from the Medicine Evaluations Board (MEB) through its designated European Notified Body regarding its CE Mark application for Custom NX. The MEB has indicated that it may require additional clinical data, including a randomized trial. The company is working with the Notified Body to respond to questions included in the MEB's letter and expects to meet with a panel from the MEB
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SOURCE XTENT, Inc.
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