8-K

UNITED STATES

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

Date of Report (Date of earliest event reported): May 15, 2014

BIOJECT MEDICAL TECHNOLOGIES INC.

(Exact name of registrant as specified in its charter)

Commission File Number: 000-15360

Oregon	93-1099680
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

7180 SW Sandburg St., Suite 100 Tigard, Oregon	97223
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (503) 692-8001

Former name or former address if changed since last report:

No Change

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On May 15, 2014, Bioject Medical Technologies Inc. (the “Company”) issued a press release announcing its unaudited financial results for the first quarter ended March 31, 2014. The press release includes cautionary statements identifying important factors that could cause actual results to differ materially from those anticipated. The press release issued May 15, 2014, is furnished herewith as Exhibit No. 99.1 to this Report, and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibit is furnished herewith and this list is intended to constitute the exhibit index:

99.1 Press Release issued by Bioject Medical Technologies Inc. dated May 15, 2014.

1

SIGNATURE

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.

Date: May 15, 2014	BIOJECT MEDICAL TECHNOLOGIES INC.
	(Registrant)
	/s/ Christine Farrell
	Christine Farrell
	Vice President of Finance
	(Principal Financial Officer)

2

EX-99.1

Exhibit 99.1

For Further Information Contact: Bioject Medical Technologies Inc.
Mark Logomasini President and CEO 503-692-8001 ext. 4121	Christine Farrell Vice President of Finance 503-692-8001 ext. 4132

BIOJECT REPORTS UNAUDITED FIRST QUARTER 2014 FINANCIAL RESULTS

Tigard, OR – May 15, 2014 – Bioject Medical Technologies Inc. (OTC Pink: BJCT), an innovative developer and manufacturer of needle-free injection therapy systems, today reported unaudited financial results for the first quarter ended March 31, 2014. The financial results are unaudited and actual results may vary.

• Revenue for the first quarter ended March 31, 2014 was $341,000, compared to $450,000 in the comparable quarter of 2013;

• Operating expense for first quarter of 2014 was $601,000 compared to $919,000 in the 2013 quarter;

• Operating loss for the first quarter of was $260,000, compared to $469,000 in the 2013 quarter; and

• Net loss allocable to common shareholders for the 2014 quarter was $316,000, or $0.02 per share on 18.9 million weighted average shares outstanding, compared to a net loss allocable to common shareholders of $502,000, or $0.03 on 18.9 million weighted average shares outstanding for the same period last year.

Results for the first quarter ended March 31, 2014, do not reflect the impact of the Company’s restructuring, which closed on April 30, 2014. See the Company’s 8-K dated May 6, 2014, for further information on the restructuring.

Bioject Medical Technologies Inc., based in Tigard, Oregon, USA, is an innovative developer and manufacturer of needle-free injection therapy systems (NFITS). NFITS works by forcing medication at high speed through a tiny orifice held against the skin. This creates a fine stream of high-pressure fluid penetrating the skin and depositing medication in the tissue beneath. Bioject is focused on developing mutually beneficial agreements with leading pharmaceutical, biotechnology, and veterinary companies, as well as research, global health and government organizations.

Readers and potential investors are cautioned that an investment in the Company’s securities involves an EXTREMELY high degree of risk. Such risks include, without limitation: the risk that audited financial results may differ materially from the unaudited results reported in this press release; the risk that the Company may be unable to continue operations and may file bankruptcy; the risk that the Company’s products will not be accepted by the market; the risk that the Company will be unable to successfully develop and negotiate new strategic relationships; uncertainties related to the time required for the Company to complete research and development, obtain necessary clinical data and government clearances; the risk that additional capital may not be available on acceptable terms, if at all; the risk that the Company may not receive orders, whether anticipated or unanticipated; and the risk that the Company may be unable to comply with the extensive government regulations applicable to the business.

Bioject (OTC Pink: BJCT) trades on the OTC Pink tier of the OTC market. Investors can find Real-Time quotes and market information for the Company on www.otcmarkets.com.

For more information about Bioject, visit www.bioject.com

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Bioject Medical Technologies Inc.

Selected Condensed Consolidated Statements of Operations Data (Unaudited)

(In thousands, except share and per share data)

	Three months ended March 31,
	2014			2013
RESULTS OF OPERATIONS:
Revenue and Expense:
Net sales	$	341		$	450
Operating expenses		601			919
Operating loss		(260	)		(469	)
Other expense, net		(23	)		(2	)
Net loss		(283	)		(471	)
Preferred stock dividend		(33	)		(31	)
Net loss allocable to common shareholders	$	(316	)	$	(502	)
Basic and diluted net loss per share allocable to common shareholders	$	(0.02	)	$	(0.03	)
Shares used in basic per share calculations		18,908,594			18,908,594

Bioject Medical Technologies Inc.

Selected Condensed Consolidated Balance Sheet Data (Unaudited)

(In thousands)

	March 31,			December 31,
	2014			2013
ASSETS
Current assets	$	653		$	357
Property and equipment, net		73			78
Other assets, net		1,402			1,427
Total assets	$	2,128		$	1,862
LIABILITIES AND SHAREHOLDERS’ DEFICIT
Current liabilities	$	2,265		$	1,658
Long-term liabilities		1,340			1,414
Shareholders’ equity (deficit):
Preferred stock		10,774			9,622
Common stock		115,135			115,032
Accumulated deficit		(127,386	)		(125,937	)
		(1,477	)		(1,210	)
Total liabilities and shareholders’ deficit	$	2,128		$	1,862