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Nephros Reports 2010 First Quarter Financial Results
Date:5/13/2010

Nephros' net loss was approximately $528,000 or $0.01 per basic and diluted common share for the first quarter of 2010 versus a net loss of approximately $735,000 or $0.02 per basic and diluted common share in the fourth quarter of 2009. Nephros' net loss decreased $207,000 or 28% in the current quarter primarily due to the approximately $213,000 or 29% reduction in loss from operations in the first quarter of 2010 compared to the same period in 2009.

End-Stage Renal Disease (ESRD) Products

Nephros completed the patient treatment phase of the U.S. clinical trial evaluation of the OLpur™ H2H™ module and OLpur™ MD 220 filter during the second quarter of 2008. The Company submitted the clinical data to the FDA with the 510(k) application for U.S. marketing approval of these products in November 2008.  Following its review of the application, the FDA requested additional information from us.  We replied to the FDA inquiries on March 13, 2009.  The FDA has not provided us with any additional requests for information or rendered a decision on our application.  We have made inquiries to the FDA about the status of our application and have most recently been informed that as of March 10, 2010 our application is still under their review process.  Nephros believes that, if approved, its technology would be the first FDA-approved on-line HDF therapy available in the U.S.

Water Ultrafiltration Products

On July 1, 2009, we received FDA approval to market the DSU to be used to filter bio
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SOURCE Nephros, Inc.
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