8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 8-K

Current Report

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

May 15, 2003

Date of Report

(Date of earliest event reported)

RITA Medical Systems, Inc.

(Exact name of registrant as specified in its charter)

Delaware	000-30959	94-3199149
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

967 N. Shoreline Blvd.

Mountain View, CA 94043

(Address of principal executive offices, with zip code)

(650) 314-3400

(Registrant’s telephone number, including area code)

Item 5.    Other Events and Required FD Disclosure.

On May 15, RITA Medical Systems, Inc., a Delaware corporation (“RITA”), announced a correction to its previously announced net loss for the three month period ended March 31, 2003. A copy of RITA’s press release announcing these corrected financial results is attached as Exhibit 99.1 hereto and incorporated by reference herein.

This information is being filed under Item 5 but is intended to meet the requirements of Item 9, “Regulation FD Disclosure” and Item 12, “Results of Operations and Financial Condition.”

Item 7.    Financial Statements, Pro Forma Financial Information and Exhibits

(a)    Financial Statements: Not applicable.

(b)    Pro Forma Financial Information: Not applicable.

(c)    Exhibits:

99.1    Press Release of RITA Medical Systems, Inc. dated May 15, 2003.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	RITA Medical Systems, Inc.
Date: May 15, 2003	By:	/s/    DONALD STEWART
		Donald Stewart Acting Chief Executive Officer, Chief Financial Officer and Vice President, Finance and Administration

RITA MEDICAL SYSTEMS, INC.

INDEX TO EXHIBITS

Exhibit Number	Description
99.1	Press Release of RITA Medical Systems, Inc. dated May 15, 2003.

EX-99.1

[LETTERHEAD OF RITA MEDICAL SYSTEMS, INC.]

NEWS RELEASE for May 15, 2003 at 5:30 PM EDT

Contact:	Allen & Caron Inc	RITA Medical Systems, Inc.
	Matt Clawson (investors)	Don Stewart, Chief Financial Officer
	Len Hall (media)	650-314-3400
	949-474-4300	dstewart@ritamed.com
	matt@allencaron.com
	len@allencaron.com

RITA MEDICAL SYSTEMS CHANGES ACCOUNTING TREATMENT OF SETTLEMENT,

CORRECTING PREVIOUSLY ANNOUNCED NET LOSS; FILES REPORT ON FORM 10-Q

MOUNTAIN VIEW, CA (May 15, 2003) . . . RITA Medical Systems, Inc. (Nasdaq: RITA) today announced a correction to its April 29, 2003 first quarter financial results news release. The Company has determined, upon discussion with its independent auditors, that the $2.65 million paid by the company to settle the litigation with Boston Scientific Corporation must be capitalized and amortized over the lives of the licenses received in that settlement instead of taken as an expense in the first quarter. As a result, the Company’s net loss for the first quarter of 2003 has been decreased to $2.9 million, or a loss per share of $0.17. The Company’s Report on Form 10-Q filed today reflects this correction.

In the April 29, 2003 news release, the Company reported that the net loss for the first quarter of 2003 was $5.6 million, or a loss per share of $0.32, and stated that the $2.65 million paid in connection with the settlement of patent disputes with Boston Scientific Corporation was being expensed as a legal settlement charge in operating expenses.

About RITA Medical Systems, Inc.

RITA Medical Systems develops, manufactures and markets innovative products for patients with solid cancerous or benign tumors. The proprietary RITA system uses radiofrequency energy to heat tissue to a high enough temperature to ablate it or cause cell death. While the Company’s current focus is on liver cancer and metastatic bone cancer, the Company believes that its minimally invasive technology may in the future be applied to other types of tumors, including tumors of the lung, breast, uterus, prostate and kidney. The Company has received regulatory clearance in major markets worldwide, including the United States. In March 2000, RITA became the first radiofrequency ablation company to receive specific FDA clearance for unresectable liver lesions in addition to its previous general FDA clearance for the ablation of soft tissue. In October 2002, RITA again became the first company to receive specific FDA clearance, this time, for the palliation of pain associated with metastatic lesions involving bone. The Company has sold over 45,000 of its disposable devices throughout the world.

The statements in this news release related to the Company’s plans to extend its technology to applications beyond the liver are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Information regarding these risks is included in the Company’s filings with the Securities and Exchange Commission.

RITA and StarBurst are trademarks of RITA Medical Systems, Inc.

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