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): November 27, 2015

BIOJECT MEDICAL TECHNOLOGIES INC.

(Exact name of registrant as specified in its charter)

Commission File Number: 0-15360

Oregon	93-1099680
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
7180 SW Sandburg St., Ste. 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 November 27, 2015, Bioject Medical Technologies Inc. (“Bioject”) issued a press release announcing its unaudited financial results for the third quarter ended September 30, 2015. The press release includes cautionary statements identifying important factors that could cause actual results to differ materially from those anticipated. The press release issued November 27, 2015 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

99.1 Press release issued by Bioject Medical Technologies Inc. dated November 27, 2015.

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: November 27, 2015	BIOJECT MEDICAL TECHNOLOGIES INC. (Registrant)
	/s/ Tony K. Chow
	Tony K. Chow
	Chief Executive Officer, President and Chief Financial Officer (Principal Executive Officer and Principal Financial and Accounting Officer)

EX-99.1

EXHIBIT 99.1

BIOJECT REPORTS UNAUDITED THIRD QUARTER 2015 FINANCIAL RESULTS

Tigard, OR – November 27, 2015 – Bioject Medical Technologies Inc. (OTC Pink: BJCT), a developer and manufacturer of needle-free injection therapy systems, today reported unaudited financial results for the third quarter ended September 30, 2015. The financial results are unaudited and actual results may vary.

Bioject reported revenues of $184,000 for the quarter ended September 30, 2015, compared to revenues of $458,000 in the quarter ended September 30, 2014. Operating expenses were $270,000 for the third quarter of 2015, compared to $581,000 in the third quarter 2014. The Company reported an operating loss of $86,000 in the third quarter of 2015, compared to an operating loss of $123,000 in the third quarter of 2014. Net loss allocable to common shareholders for the third quarter of 2015 was $154,000, compared to $189,000 in the comparable 2014 period.

Operating results were negatively affected by one customer’s unexpected delay of orders due to its excess inventory, resulting in $223,000 less in revenues and $210,000 less in operating expenses for the third quarter of 2015. The Company is working with the customer to determine its remaining orders for 2015.

Basic and diluted net loss per share allocable to common shareholders for the quarter ended September 30, 2015 was $0.00 per share on 39.1 million weighted average shares outstanding compared to a net loss of $0.01 per share on 32.4 million weighted average shares outstanding for the same period in 2014.

For the nine months ended September 30, 2015, Bioject reported revenues of $714,000, compared to revenues of $1,312,000 in the comparable period of 2014. Operating loss for the nine months ended September 30, 2015 was $515,000, compared to $657,000 in the comparable period of 2014. Net loss allocable to common shareholders was $757,000, or $0.02 per share on 39.0 million weighted average shares outstanding, in the nine-month period ended September 30, 2015 compared to $836,000, or $0.03 per share on 25.7 million weighted average shares outstanding, in the comparable period of 2014.

Bioject Medical Technologies Inc., based in Tigard, Oregon, USA, is a 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; the risk that the international distributor agreements will not be successful; uncertainties related to the time required for the Company to complete research and development and 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; the risk that the Company’s supply chain management process may not improve the Company’s cash position or cash flows; 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

Bioject Medical Technologies Inc. Selected Condensed Consolidated Statements of Operations Data (Unaudited) (In thousands, except share and per share data)
	Three months ended September 30,						Nine months ended September 30,
	2015			2014			2015			2014
RESULTS OF OPERATIONS:
Revenue and Expense:
Net sales	$	184		$	458		$	714		$	1,312
Operating expenses		270			581			1,229			1,969
Operating loss		(86	)		(123	)		(515	)		(657	)
Other expense, net		(68	)		(66	)		(242	)		(135	)
Net loss		(154	)		(189	)		(757	)		(792	)
Preferred stock dividend		—			—			—			(44	)
Net loss allocable to common shareholders	$	(154	)	$	(189	)	$	(757	)	$	(836	)
Basic and diluted net loss per common share allocable to common shareholders	$	(0.00	)	$	(0.01	)	$	(0.02	)	$	(0.03	)
Shares used in per share calculations		39,140,972			32,370,408			38,982,181			25,676,688

Bioject Medical Technologies Inc. Selected Condensed Consolidated Balance Sheet Data (Unaudited) (In thousands)
	September 30, 2015			December 31, 2014
ASSETS
Current assets	$	1,273		$	2,026
Property and equipment, net		60			71
Other assets, net		1,312			1,367
Total assets	$	2,645		$	3,464
LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT)
Current liabilities	$	1,924		$	1,511
Long term liabilities		3,120			3,145
Shareholders’ equity (deficit):
Preferred stock		2,469			2,416
Common stock		124,100			124,603
Accumulated deficit		(128,968	)		(128,211	)
Total shareholders’ deficit		(2,399	)		(1,192	)
Total liabilities and shareholders’ deficit	$	2,645		$	3,464