-- Full Financial Results to be Announced May 4, 2017 --
REDWOOD CITY, Calif.--(BUSINESS WIRE)--Apr. 24, 2017--
Dextera Surgical Inc. (Nasdaq:DXTR), a company commercializing and
developing the MicroCutter 5/80TM stapler based on its proprietary
‘‘staple-on-a-strip’’ technology intended for use by thoracic,
pediatric, bariatric, colorectal and general surgeons, today announced
preliminary financial results for the fiscal 2017 third quarter ended
March 31, 2017.
For the three months ended March 31, 2017, total revenue was
approximately $1.1 million, including MicroCutter product sales of
approximately $500,000. Operating costs and expenses were approximately
$5.3 million with a net loss of approximately $4.4 million. The cash
balance at March 31, 2017, was approximately $2.5 million and total
stockholders’ deficit was approximately $3.7 million.
Dextera Surgical notes that these preliminary revenue results are
unaudited and subject to change. Full fiscal 2017 third quarter
financial results will be reported on May 4, 2017, after the markets
About Dextera Surgical
Dextera Surgical (Nasdaq:DXTR) designs and manufactures proprietary
stapling devices for minimally invasive surgical procedures.
Dextera Surgical also markets automated anastomosis devices for coronary
artery bypass graft (CABG) surgery on the market today: the C-Port®
Distal Anastomosis Systems and PAS-Port® Proximal Anastomosis System.
These products are sold by Dextera Surgical under the Cardica brand name.
The statements in this press release regarding Dextera Surgical’s
preliminary financial results are "forward-looking statements." There
are a number of important factors that could cause Dextera Surgical’s
results to differ materially from those indicated by these
forward-looking statements, including the risks detailed from time to
time in Dextera Surgical’s reports filed with the U.S. Securities and
Exchange Commission, including its Quarterly Report on Form 10-Q for the
quarter ended December 31, 2016, under the caption “Risk Factors.”
Dextera Surgical expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein. You are encouraged to read Dextera
Surgical’s reports filed with the U.S. Securities and Exchange
Commission, available at www.sec.gov.
Dextera Surgical has filed a registration statement (including a
preliminary prospectus dated April 21, 2017) with the Securities and
Exchange Commission, or SEC, for the offering to which this
communication relates. Before you invest, you should read the
preliminary prospectus and the other documents Dextera Surgical has
filed with the SEC for more complete information about it and the
offering. You may get these documents for free by visiting EDGAR on the
SEC web site at www.sec.gov.
Alternatively, Dextera Surgical, the underwriter or any dealer
participating in the offering will arrange to send you copies if you
request them by contacting Ladenburg Thalmann & Co. Inc., 277 Park
Avenue, 26th Floor, New York, New York 10172 or by e-mail at firstname.lastname@example.org.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170424005381/en/
Source: Dextera Surgical Inc.
Dextera Surgical Inc.
Bob Newell, 650-331-7133
Finance and Chief Financial Officer