| | IMMEDIATE RELEASE CONTACTS: Brent Larson, Vice President / CFO 614 822 2330 | January 20, 2010 Tim Ryan The Shoreham Group 212 242 7777 tryan@shorehamgroupllc.com |
NEOPROBE ANNOUNCES PRELIMINARY 2009 REVENUE
DUBLIN, OHIO – January 20, 2010 -- Neoprobe Corporation (OTCBB: NEOP), a diversified developer of innovative oncology surgical and diagnostic products, today announced that it expects to report revenue of approximately $2.4 million and $9.5 million for the fourth quarter and full year of 2009, respectively. These amounts represent increases of over 20% for each of the respective periods over the same periods in the prior year. Increased sales volume of our base gamma detection systems accounted for the increase in the fourth quarter and combined with revenue from new product introductions to account for the year-on-year increase.
Neoprobe cautions that the financial results disclosed are preliminary, are based on the best information currently available to the Company and are subject to completion of the financial statements and the audit of Neoprobe’s year-end financial results. Neoprobe expects to announce audited 2009 operating results during the first week of March.
About Neoprobe
Neoprobe is a biomedical company focused on enhancing patient care and improving patient outcome by meeting the critical intraoperative diagnostic information needs of physicians and therapeutic treatment needs of patients. Neoprobe currently markets the neoprobe® GDS line of gamma detection systems that are widely used by cancer surgeons. In addition, Neoprobe holds significant interests in the development of related biomedical systems and radiopharmaceutical agents including Lymphoseek® and RIGScan® CR. Neoprobe’s subsidiary, Cira Biosciences, Inc., is also advancing a patient-specific cellular therapy technology platform called ACT. Neoprobe’s strategy is to deliver superior growth and shareholder return by maximizing its strong position in gamma detection technologies and diversifying into new, synergistic biomedical markets through continued investment and selective acquisitions. www.neoprobe.com
Statements in this news release, which relate to other than strictly historical facts, such as statements about the Company’s plans and strategies, expectations for future financial performance, new and existing products and technologies, anticipated clinical and regulatory pathways, and markets for the Company’s products are forward-looking statements The words “believe,” “expect,” “anticipate,” “estimate,” “project,” and similar expressions identify forward-looking statements that speak only as of the date hereof. Investors are cautioned that such statements involve risks and uncertainties that could cause actual results to differ materially from historical or anticipated results due to many factors including, but not limited to, the Company’s continuing operating losses, uncertainty of market acceptance of its products, reliance on third party manufacturers, accumulated deficit, future capital needs, uncertainty of capital funding, dependence on limited product line and distribution channels, competition, limited marketing and manufacturing experience, risks of development of new products, regulatory risks and other risks detailed in the Company’s most recent Annual Report on Form 10-K and other Securities and Exchange Commission filings. The Company undertakes no obligation to publicly update or revise any forward-looking statements.
