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XTENT Announces Third Quarter 2007 Financial Results
Date:11/2/2007

MENLO PARK, Calif., Nov. 2 /PRNewswire-FirstCall/ -- XTENT, Inc. (Nasdaq: XTNT) today reported financial results for the third quarter ended September 30, 2007.

The company reported a net loss of $9.5 million, or $0.42 per share, for the third quarter of 2007, compared to a net loss of $8.0 million, or $2.84 per share, for the same period last year. The company's net loss per share for the third quarter of 2007 was based on weighted average shares outstanding of 22.7 million as compared to 2.8 million weighted average shares outstanding for the quarter ended September 30, 2006. For the nine months ended September 30, 2007, XTENT had a net loss of $26.9 million, compared to $17.9 million for the same period last year. The net loss attributable to common stockholders was $26.9 million for the nine months ended September 30, 2007, compared to $31.0 million for the same period last year. At September 30, 2007, XTENT had cash, cash equivalents and short-term investments of $68.1 million.

Research and development expenses increased to $7.8 million in the third quarter of 2007 from $5.8 million for the same period last year primarily due to an increased number of research and development personnel and expenditures for prototype parts, supplies, and outside services related to product development for our Custom NX DES systems. General and administrative expenses were unchanged at $2.6 million in the third quarter of 2007 versus $2.6 million for the same period last year. Research and development expenses for the nine month period ended September 30, 2007, totaled $21.7 million, compared to $13.4 million for the same period last year. General and administrative expenses for the nine months ended September 30, 2007,
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SOURCE XTENT, Inc.
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