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WorldHeart Reports 2009 Financial Results
Date:3/1/2010

aration for the Levacor™ VAD Bridge-to-Transplant (BTT) clinical study which received unconditional approval from the U.S. Food and Drug Administration in January 2010.

Revenues were $5,000 for the year ended December 31, 2009, as compared to $1.7 million for the year ended December 31, 2008. The decrease in revenue from 2008 to 2009 is the result of our November 2006 decision to suspend our commercial efforts with respect to the Novacor LVAS and focus our efforts and resources in the development of the Levacor VAD.  In 2007 and 2008, we made the Novacor LVAS available to medical centers only until our inventory was depleted, which occurred in mid-2008. Additionally, we did not have any SPUS (Segmented Poly Urethane Solution) revenue in 2009 as compared to $785,000 in 2008.  The decrease is a result of this revenue being associated with one customer who placed no orders in 2009.  

At December 31, 2009 our balance sheet reflected $6.1 million in cash, cash equivalents and marketable investment securities, which is exclusive of the $7.1 million in net proceeds from the January 2010 private placement. This compares to $20.7 million in cash and cash equivalents at

SOURCE World Heart Corporation
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