Business Services Industry
Xcorporeal's Common Stock Approved For Listing on the American Stock Exchange
Business Wire, Dec 6, 2007
Common Stock to Commence Trading on Friday, December 7, 2007, Under the Ticker Symbol XCR
LOS ANGELES -- Xcorporeal, Inc. (OTCBB:XCPL) announced today that its common stock has been approved for listing on the American Stock Exchange (AMEX). The Company's shares are expected to begin trading on the AMEX at the opening of the stock market on Friday, December 7th, under the ticker symbol "XCR."
The AMEX listing approval is contingent upon the Company being in compliance with all applicable listing standards on the date it begins trading on the AMEX, and may be rescinded if the Company is not in compliance with such standards.
About Xcorporeal
Xcorporeal, Inc. is a medical device company developing an innovative extra-corporeal platform technology that may be used in devices to replace the function of various human organs. The platform will lead to three initial products; a device for home hemodialysis, another device for hospital Renal Replacement Therapy (RRT) and the Wearable Artificial Kidney (WAK) for continuous ambulatory hemodialysis. These devices will seek to provide patients with improved, efficient and cost effective therapy. The RRT markets represent multibillion dollar opportunities.
For the RRT market, Xcorporeal is developing a portable, multifunctional renal replacement device that will offer cost effective therapy for those patients suffering from Acute Renal Failure (ARF) which causes a rapid decline in kidney function. In the U.S., the disease affects more than 200,000 patients annually, with a mortality rate of 50%. The Xcorporeal platform technology is a natural fit for the hospital market of renal replacement therapy since the technology is designed to provide cost-effective, continuous therapy. The projected 2007 market opportunity for the U.S. is approximately $1.4 billion. The disposable market is expected to grow at 10% per year. The devices typically need to be replaced every five years. The Company intends to commercialize this device during the first half of 2009.
Xcorporeal also plans to commercialize a home hemodialysis machine and the WAK for the End Stage Renal Disease (ESRD) market, which are patients in which the kidneys cease to function. Xcorporeal's devices will combine the best attributes of currently marketed home hemodialysis machines to create hemodialysis devices which offer patients convenient, durable and truly portable devices for home use. The Company believes its machines will provide a cost-effective alternative to current home treatment modalities, due to their ability to offer hemodialysis without the need for large quantities of dialysate fluid or purified water. The WAK will be a revolutionary device intended to enable patients with ESRD to achieve a quality of life closer to that of healthy individuals.
Additional Company information may be found on the Internet at: www.xcorporeal.com.
Forward-Looking Statements
Except for statements of historical fact, the matters discussed in this press release are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. These risk factors include, among others, limited operating history, difficulty in developing, exploiting and protecting proprietary technologies, intense competition and substantial regulation in the medical device industry; and additional risks factors as discussed in the reports filed by the company with the Securities and Exchange Commission, which are available on its website at http://www.sec.gov.
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