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XTENT Announces First Quarter 2008 Financial Results
Date:4/28/2008

Six-month CUSTOM III long and multi-lesion clinical trial data to be

presented as late-breaking data at EuroPCR on Tuesday, May 13

MENLO PARK, Calif., April 28 /PRNewswire-FirstCall/ -- XTENT, Inc. (Nasdaq: XTNT) today reported financial results for the first quarter ended March 31, 2008.

The company reported a net loss of $12.5 million, or $0.54 per share, for the first quarter of 2008, compared to a net loss of $7.9 million, or $0.55 per share, for the first quarter of 2007. The company's net loss for the first quarter of 2008 was based on weighted average shares outstanding of 22.9 million as compared to 14.5 million weighted average shares outstanding for the first quarter of 2007. At March 31, 2008, XTENT had cash, cash equivalents and short-term investments of $46.5 million.

Research and development expenses increased to $9.4 million in the first quarter of 2008 from $6.2 million for the same period in 2007, primarily due to an increased number of research and development personnel, expenditures for prototype parts and supplies as well as costs incurred for clinical trials. General and administrative expenses were $3.4 million in the first quarter of 2008 versus $2.5 million for the same period in 2007, primarily due to an increase in personnel and other related costs.

"We continue to make progress toward bringing the next generation in drug-eluting stent technology to physicians and their patients with coronary artery disease," said Gregory D. Casciaro, XTENT's President and CEO. "We are privileged to report that our CUSTOM III trial results have been selected for presentation during the Late-Breaking Trials session at the premiere international interventional cardiology meeting (EuroPCR) held n
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SOURCE XTENT, Inc.
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