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PLC Systems Reports First Quarter 2012 Results
Date:5/15/2012

to our efforts to increase sales and adoption for RenalGuard in Europe and other countries where it is on the market."

Mr. Tauscher added, "Despite the volatility of our sales from quarter to quarter, our confidence in the potential of RenalGuard as a valuable and targeted technology that addresses a large, unmet medical need worldwide remains ever strong.  Our progress in aligning PLC with significant distributors and thought leaders in the medical practice in key markets, particularly in person at crucial events like EuroPCR, will help in our goal to establish RenalGuard as a 'best practice' in the industry."

He concluded, "As we move forward this year, we remain focused on achieving the following milestones:

  • Initiation of additional sites for the U.S. clinical trial and significant progress in patient enrollment, with sample size re-estimation planned after 163 patients;
  • Increased sales of RenalGuard in markets where it is currently available;
  • Initiation of additional distributors in key territories worldwide;
  • Additional investigator-sponsored clinical trials of RenalGuard in new territories and aimed at additional treatments;
  • Issuance of additional patents to bolster the company's intellectual property portfolio
  • A positive response from Japan's Department of Health to the investigator-submitted clinical trial proposal shortly, followed by the launch of a full clinical trial in that critical market, and
  • Successfully raising additional funds to support all of these initiatives.
  • This represents a formidable series of tasks for PLC as a small company, but we believe that our progress and success in accomplishing these initiatives will, lead to many more opportunities for RenalGuard, for the benefit of the company, this technology and our shareholders."

    Financial UpdateAs of March 31, 2012, PLC reported $1,601,000 in cash and equivalents, a decrease from the Co
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