EX-99.1 2 d925852dex991.htm EX-99.1 EX-99.1

EXHIBIT 99.1

 

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For Further Information Contact:

Bioject Medical Technologies Inc.

Tony Chow

President and CEO/Chief Financial Officer

503-692-8001 ext. 4132

BIOJECT REPORTS UNAUDITED FIRST QUARTER 2015 FINANCIAL RESULTS

Tigard, OR May 15, 2015 – 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, 2015. The financial results are unaudited and actual results may vary.

 

    Revenue for the first quarter ended March 31, 2015 was $314,000, compared to $341,000 in the comparable quarter of 2014;

 

    Operating expense for first quarter of 2015 was $567,000 compared to $601,000 in the 2014 quarter;

 

    Operating loss for the first quarter of 2015 of was $253,000, compared to $260,000 in the 2014 quarter; and

 

    Net loss allocable to common shareholders for the 2015 quarter was $327,000, or $0.01 per share on 39.0 million weighted average shares outstanding, compared to a net loss allocable to common shareholders of $316,000, or $0.02 per share on 18.9 million weighted average shares outstanding for the same period last year.

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,
 
     2015     2014  

RESULTS OF OPERATIONS:

    

Revenue and Expense:

    

Net sales

   $ 314      $ 341   

Operating expenses

     567        601   
  

 

 

   

 

 

 

Operating loss

  (253   (260

Other expense, net

  (74   (23
  

 

 

   

 

 

 

Net loss

  (327   (283

Preferred stock dividend

  —        (33
  

 

 

   

 

 

 

Net loss allocable to common shareholders

$ (327 $ (316
  

 

 

   

 

 

 

Basic and diluted net loss per share allocable to common shareholders

$ (0.01 $ (0.02
  

 

 

   

 

 

 

Shares used in per share calculations

  38,990,972      18,908,594   
  

 

 

   

 

 

 

Bioject Medical Technologies Inc.

Selected Condensed Consolidated Balance Sheet Data (Unaudited)

(In thousands)

 

     March 31,
2015
    December 31,
2014
 

ASSETS

    

Current assets

   $ 1,790      $ 2,026   

Property and equipment, net

     68        71   

Other assets, net

     1,369        1,367   
  

 

 

   

 

 

 

Total assets

$ 3,227    $ 3,464   
  

 

 

   

 

 

 

LIABILITIES AND SHAREHOLDERS’ DEFICIT

Current liabilities

$ 1,782    $ 1,511   

Long-term liabilities

  3,137      3,145   

Shareholders’ equity (deficit):

Preferred stock

  2,416      2,416   

Common stock

  124,430      124,603   

Accumulated deficit

  (128,538   (128,211
  

 

 

   

 

 

 
  (1,692   (1,192
  

 

 

   

 

 

 

Total liabilities and shareholders’ deficit

$ 3,227    $ 3,464