Matritech, Inc. (MZT) - 500 Beiträge pro Seite

[panik]

Profile:Matritech, Inc., a biotechnology company, engages in the development, manufacture, marketing, distribution, and licensing of cancer diagnostic technologies, products, and services. Its principal products include NMP22 Test Kit, which is used to perform lab testing services in licensed clinical laboratories or doctors’ office laboratories; and NMP22 BladderChek Test, which is used by physicians to perform laboratory tests for the monitoring and diagnosis of bladder cancer. The company also has research and development programs in the areas of cervical cancer, breast cancer, prostate cancer, and colon cancer. It focuses its research and development activities primarily on NMP66 program to develop a blood-based test for breast cancer. In addition, the company sells allergy and other diagnostic products manufactured by third parties. It markets and sells its products through its direct sales force, as well as through distributors to hospitals, clinics, and physician office laboratories primarily in the United States, Germany, southeast Asia, and the People’s Republic of China. Matritech was founded by Stephen D. Chubb in 1987. The company is headquartered in Newton, Massachusetts.

http://www.matritech.com/

[panik]

Matritech and Inverness Medical Innovations Sign Agreements for the Manufacturing and OTC Distribution of the NMP22(R) BladderChek(R) Test
Monday November 6, 11:16 am ET
Companies Embark on First At-home Cancer Test


NEWTON, Mass.--(BUSINESS WIRE)--Matritech (Amex: MZT - News), a leading developer of protein-based diagnostic products for the early detection of cancer announced today that it has signed agreements for the manufacture and distribution of Matritech's NMP22® BladderChek® Test with Inverness Medical Innovations, Inc. (Amex: IMA - News), a leading manufacturer and supplier of rapid diagnostic products for the consumer and professional markets. Inverness will begin supplying the point-of-care urine test that is used in the diagnosis of bladder cancer. Under a separate agreement, Inverness will become the exclusive U.S. distributor of the test to be sold through over-the-counter retail channels.

The NMP22 BladderChek Test is a prescription diagnostic test. Under the terms of the distribution agreement, the companies plan to collaborate in assessing the market opportunity and preparing and submitting a regulatory filing to seek FDA approval to distribute and sell the NMP22 BladderChek Test as a non-prescription or over-the-counter (OTC) test as an aid for the diagnosis and monitoring of bladder cancer. The companies anticipate the OTC distribution would be introduced in the U.S. as soon as FDA approval is received.

"The signing of these agreements marks a significant milestone for Matritech," said Stephen D. Chubb, Chairman and CEO of Matritech. "The collaboration is the first step in the U.S. in implementing our strategy of expanding the market for the NMP22 BladderChek Test. In support of that goal, we have assessed our manufacturing capabilities. Inverness is a leader in point-of-care lateral flow intellectual property and technology and has the capacity to support high volume demand. We also believe that there is a significant retail market opportunity and expect that Inverness will be able to achieve widespread distribution of the NMP22 BladderChek Test. We are looking forward to working with Inverness to increase our penetration of the point-of-care cancer diagnostics market and improve the early detection of cancer."

The NMP22 BladderChek Test is the only physician-office test approved by the FDA for both the diagnosis and monitoring of bladder cancer. The test is also FDA approved for prescription home use, although non-prescription OTC use will require additional clinical studies and regulatory approvals. Similar to an at-home pregnancy test, the NMP22 BladderChek Test requires only four drops of urine and results are available in 30 minutes, allowing a rapid and accurate way to aid in the detection of bladder cancer.

Commenting on the agreements, Ron Zwanziger, CEO of Inverness, said, "We are very pleased to be able to work with Matritech to manufacture and distribute the NMP22 BladderChek Test. The test has gained widespread adoption by urologists in the diagnosis and monitoring of bladder cancer. Most recently, screening high risk groups with the NMP22 BladderChek Test is reported to be cost effective because of its low cost and high accuracy for detecting bladder cancer. We know that early cancer detection saves lives. This collaboration will allow us to meet the growing demand for the test and, we anticipate, make it more accessible to the people who are at risk for bladder cancer and truly revolutionize how cancer is detected."

Matritech indicated that the current manufacturer of the NMP22 BladderChek Test will work with Inverness to ensure continuity and prevent interruption in inventory supply.

About Matritech

Matritech is using its patented proteomics technology to develop diagnostics for the detection of a variety of cancers. The Company's first two products, the NMP22® Test Kit and NMP22® BladderChek® Test, have been FDA approved for the monitoring and diagnosis of bladder cancer. The NMP22 BladderChek Test is based on Matritech's proprietary nuclear matrix protein (NMP) technology, which correlates levels of NMPs in body fluids to the presence of cancer. Beginning with a patent portfolio licensed exclusively from the Massachusetts Institute of Technology (MIT), Matritech's patent portfolio has grown to 14 other U.S. patents. In addition to the NMP22 protein marker utilized in the NMP22 Test Kit and NMP22 BladderChek Test, the Company has discovered other proteins associated with cervical, breast, prostate, and colon cancer. The Company's goal is to utilize protein markers to develop, through its own research staff and through strategic alliances, clinical applications to detect cancer. More information about Matritech is available at www.matritech.com.

Statement under the Private Securities Litigation Reform Act

Any forward-looking statements in this press release including those related to the Company's expectations regarding future manufacture and supply of the Company's NMP22 BladderChek Test, sales of and markets for the Company's products, and business prospects are subject to a number of risks and uncertainties, many of which are beyond the Company's control, including the potential for FDA approval of OTC sales of the NMP22 BladderChek Test and future demand and markets for the product. Actual results may differ materially due to numerous factors, including without limitation, the content and timing of submissions to and decisions by regulatory authorities including the FDA; the potential market acceptance of an OTC version of the product; the ability of Inverness to efficiently commence manufacturing and distributing the product and to manufacture sufficient quantities of the product. Please refer to the risk factors detailed in the Company's periodic reports and registration statements as filed with the Securities and Exchange Commission. These forward-looking statements are neither promises nor guarantees. There can be no assurance that the Company's expectations for its products or future financial performance will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Matritech undertakes no responsibility to revise or update any such forward-looking information.

About Inverness Medical Innovations

Inverness Medical Innovations is a leading global developer of advanced diagnostic devices and is presently exploring new opportunities for its proprietary electrochemical and other technologies in a variety of professional diagnostic and consumer-oriented applications including immuno-diagnostics with a focus on women's health, cardiology and infectious disease. The Company's new product development efforts, as well as its position as a leading supplier of consumer pregnancy and fertility/ovulation tests and rapid point-of-care diagnostics, are supported by the strength of its intellectual property portfolio. Inverness is headquartered in Waltham, Massachusetts. For more information about Inverness Medical Innovations, please visit their website at http://www.invernessmedical.com.



Contact:
Matritech
Kathleen O'Donnell, 617-928-0820 X270

--------------------------------------------------------------------------------
Source: Matritech

[panik]

Matritech Promotes Bladder Cancer Awareness November 12-18 and Encourages People at Risk for the Cancer to be Tested
Thursday November 9, 9:00 am ET


NEWTON, Mass.--(BUSINESS WIRE)--Matritech, Inc. (Amex: MZT - News) a leading developer of protein-based diagnostic products for the early detection of cancer has joined forces for the second consecutive year with leading urologists, urology nurses, community based healthcare providers, bladder cancer patient advocates, and firefighters to raise awareness of bladder cancer during National Bladder Health Awareness Week, November 12-18, 2006, and urges people who are at risk for bladder cancer to ask their doctor to be tested for the cancer.

Matritech is providing a patient education kit "Bladder Cancer Awareness - Early Detection Saves Lives" with information and materials for physicians and advocates to help them educate the public about bladder cancer risk factors and early detection. The patient education materials can be accessed on the company's website at www.matritech.com.

Bladder cancer is curable when found early, but few recognize the symptoms early enough to seek testing. Unfortunately, one in four bladder cancers is diagnosed when it is already advanced, reducing the chances of survival and requiring expensive treatment.

"We are pleased to be able to provide physicians and patient advocates with educational materials to help them bring attention to a disease that is often overlooked in cancer awareness programs," said Stephen D. Chubb, Chairman and CEO of Matritech. "Bladder cancer is a serious malignancy and has the highest recurrence rate of any cancer. Our common goal is to reach the people at risk for bladder cancer and make them aware that as with all cancers - early detection helps save lives."

Matritech's NMP22® BladderChek® Test, a point-of-care urine test, which has been reported to be cost effective for screening high risk groups because of its low cost and high accuracy, is being used in a number of states in local wellness programs that began providing testing for bladder cancer. Communities in Colorado, Wisconsin, Texas, California and Rhode Island recently completed screening programs for people at risk for bladder cancer.

In Rhode Island, a voluntary screening program for firefighters in five communities was sponsored by their local State Representatives and endorsed by the area fire chiefs and the Rhode Island Cancer Council. Legislation to make bladder cancer testing available annually to all firefighters in the state is also being sponsored by these state representatives. Other screening programs for firefighters are anticipated in California, Massachusetts, Florida, and Arizona. Firefighters have an increased risk of bladder cancer death.

Recommendations supporting the screening of high risk groups for bladder cancer with the NMP22® BladderChek® Test were reported in the September 1, 2006 American Cancer Society's (ACS) journal Cancer. Screening for bladder cancer in high risk individuals with the NMP22® BladderChek® Test could save lives and reduce overall medical expenses. All other cancer screening programs save lives but increase expenses.

According to the National Cancer Institute (NCI), the prevalence of bladder cancer in the U.S. has surpassed that of lung cancer. This cancer is linked to smoking and occupational exposure to chemicals, yet if detected early, bladder cancer is very treatable. The risk of bladder cancer may exponentially increase when a person who smokes is also exposed to carcinogens at the workplace.

One of the first signs of bladder cancer is blood in the urine (hematuria). Sometimes the urine appears normal and blood is detected only through a test. Other signs can include painful urination, increased frequency of urination, a feeling of needing to urinate but not being able to do so, and chronic bladder inflammation from recurrent urinary tract infections. While each of these symptoms might have benign causes, the possibility of bladder cancer should not be excluded.

Matritech also continues to stress the importance of testing women for bladder cancer. The Company believes women should be viewed as an at risk group when considering testing for bladder cancer. Historically women have been underestimated for bladder cancer risk; as a result, bladder cancer has been detected in women at later stages in the disease. Diagnosis in women is often delayed because symptoms are overlooked or misinterpreted. The percentage of men who survive ten years is greater than women who survive five. The Company also points to the recent SEER (Surveillance, Epidemiology and End Results) data from the National Cancer Institute, which indicates the prevalence of bladder cancer in women is similar to ovarian and cervical cancer. Bladder cancer has a higher mortality than cervical cancer.

In the absence of screening, one in four bladder cancers is detected when it is already advanced, requiring expensive treatment and has reduced survival. Screening high risk groups offers the potential for detecting cancers earlier, resulting in less extensive and less costly treatments, as well as improved survival. The five year survival rate is 94% for patients diagnosed with early stage, or noninvasive cancer, while patients with metastatic or advanced stages of the disease have as low as a 6% chance of surviving five years.

The cost from diagnosis to death for bladder cancer is higher than any other cancer. In the U.S., it's estimated that bladder cancer diagnosis and treatment generates $4 billion in direct costs. The cost of treating a bladder cancer when it is detected early is much less than treatment after a tumor has become advanced.

The patient education materials are also available on the UroToday website at www.urotoday.com.

About Bladder Cancer

There will be more than 63,000 new cases of bladder cancer in the U.S. this year and it is the 5th most common cancer among men and women. Bladder cancer is the second most common urologic malignancy in the U.S. after prostate cancer. It is almost as common in men as colon cancer. The prevalence of bladder cancer in the U.S. is higher than lung cancer and its prevalence in women is similar to ovarian cancer. It is more common and has a higher mortality than cervical cancer. Bladder cancer has the highest rate of recurrence with a 50 to 85 percent recurrence within six to 12 months. Currently there are more than 500,000 Americans with a history of bladder cancer. The most common risk factor for bladder cancer is smoking. Occupational exposures to chemicals (aromatic amines) used in dry cleaning facilities and the production of dyes, paper, rope, apparel, rubber and petroleum products have been associated with increased risk for bladder cancer. Other industrial exposures implicated as risk factors for developing bladder cancer include combustion gases and soot from coal, chlorinated aliphatic hydrocarbons, and chlorination by-products in heated water.

About Matritech

Matritech is using its patented proteomics technology to develop diagnostics for the detection of a variety of cancers. The Company's first two products, the NMP22® Test Kit and NMP22® BladderChek® Test, have been FDA approved for the monitoring and diagnosis of bladder cancer. The NMP22 BladderChek Test is based on Matritech's proprietary nuclear matrix protein (NMP) technology, which correlates levels of NMPs in body fluids to the presence of cancer. Beginning with a patent portfolio licensed exclusively from the Massachusetts Institute of Technology (MIT), Matritech's patent portfolio has grown to 14 other U.S. patents. In addition to the NMP22 protein marker utilized in the NMP22 Test Kit and NMP22 BladderChek Test, the Company has discovered other proteins associated with cervical, breast, prostate, and colon cancer. The Company's goal is to utilize protein markers to develop, through its own research staff and through strategic alliances, clinical applications to detect cancer. More information about Matritech is available at www.matritech.com.

Statement under the Private Securities Litigation Reform Act

Any forward-looking statements in this press release including those related to the Company's expectations regarding future sales of and markets for the Company's products, and business prospects are subject to a number of risks and uncertainties, many of which are beyond the Company's control. Please refer to the risk factors detailed in the Company's periodic reports and registration statements as filed with the Securities and Exchange Commission. These forward-looking statements are neither promises nor guarantees. There can be no assurance that the Company's expectations for its products or future financial performance will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Matritech undertakes no responsibility to revise or update any such forward-looking information.



Contact:
Matritech, Inc.
Kathleen O'Donnell, 617-928-0820 X270
or
Karen Roberts, 317-730-5349
[e-mail]

--------------------------------------------------------------------------------
Source: Matritech, Inc.

[panik]

Matritech Reports Record Revenues for Fourth Quarter and Fiscal Year 2006
Tuesday February 6, 7:00 am ET
-- Achieved 2006 Revenue Guidance of $12 million
-- NMP22(R) BladderChek(R) Test Sales Increased 37% in Fourth Quarter; 31% for Year
-- Company Issues 2007 Revenue Guidance of $14.5 to $15.5 million
-- Sales of NMP22(R) BladderChek(R) Test to Gynecologists in Germany Continue to Grow - more than 1,450 gynecologists have purchased the product to date


NEWTON, Mass.--(BUSINESS WIRE)--Matritech (Amex: MZT - News), a leading developer and marketer of protein-based diagnostic products for the early detection of cancer, today reported financial results for the fourth quarter and fiscal year ended December 31, 2006. Revenues from sales of the NMP22® BladderChek® Test increased 37% in the fourth quarter 2006 and 31% for the year over those reported for the same periods in 2005. The Company achieved its 2006 revenue guidance of $12 million.

Stephen D. Chubb, Matritech's Chairman and CEO noted, "We are encouraged by the continued adoption of the NMP22 BladderChek Test by urologists in the U.S. and by both urologists and primary care physicians, including OB/GYNs, in Germany. This has resulted from the increasing number of reports in the medical press recommending the use of the test as well as the influence of our sales representatives in the U.S. and Germany. We expect that both of these factors will continue in 2007 and will contribute to our goal of making the NMP22 BladderChek Test standard of care for the early detection of bladder cancer."

David L. Corbet, Matritech's President and Chief Operating Officer remarked, "U.S. sales of NMP22 BladderChek Test to urologists have grown steadily in 2006 since implementing our changes in strategy and personnel late in the first quarter. I believe this is solid evidence that our switch in focus to driving usage in selected accounts with high volume potential is working. Following our switch in focus, our reorder rates increased throughout the remainder of 2006 with roughly 75% of all fourth quarter U.S. sales of the NMP22 BladderChek Test coming from established accounts that have ordered three or more times. We think this growing commitment by urologists provides the foundation for an expansion to primary care physicians in the coming year. In Germany, for both the quarter and the year, we are reaping the benefits of our market expansion to gynecologists where our annualized sales run rate now exceeds $2,000,000. We are also pleased with the continuing strong sales growth among urologists. 2006 was our fifth year of selling to urologists in Germany and annual sales to this customer group grew by more than 35% year-over-year."

Revenue recognized from sales of the NMP22® BladderChek® Test increased 37% during the quarter to $3,088,000 compared to $2,254,000 in the fourth quarter of 2005. Overall product sales for the fourth quarter of 2006 were $3,602,000 compared to $2,776,000 for the fourth quarter of 2005, an increase of 30%. NMP22® BladderChek® Test sales accounted for approximately 92% of sales in the NMP22® product line.

The Company reported a loss from operations of $1,386,000 for the fourth quarter of 2006 compared to a loss from operations of $1,795,000 for the same period in 2005. This 23% decrease was mainly the result of increased sales of NMP22® BladderChek® Test. The Company reported a net loss of $2,336,000 or $0.04 per share for the fourth quarter of 2006, compared to a loss of $2,218,000 or $0.05 per share for the same period in 2005.

Revenue recognized from sales of the NMP22® BladderChek® Test increased 31% during fiscal year 2006 to $10,032,000 as compared to $7,686,000 in 2005. Overall product sales for 2006 were $12,085,000 compared to $10,290,000 for the year 2005. Revenues for the year ended December 31, 2006 were $12,195,000 compared to $10,415,000 for the year ended December 31, 2005, an increase of 17%.

The Company reported a loss from operations of $8,030,000 for the year ended December 31, 2006 compared to a loss of $7,730,000 for the year 2005. The Company reported a net loss attributable to common shareholders of $11,935,000 or $0.22 per share for year ended December 31, 2006 compared to a net loss of $9,492,000 or $0.21 per share for 2005. The reported net loss attributable to common shareholders for 2005 includes a $1,627,000 non-cash charge attributable to the beneficial conversion feature of the Series A Convertible Preferred Stock financing which closed in the first quarter of 2005 offset by a non-cash gain of $1,900,000 related to changes in the market value of the warrants issued in the financing.

Mr. Chubb also stated that 2007 revenues are expected to grow to between $14.5 and $15.5 million.

Highlights of 2006 and Recent Business:

Matritech signed an agreement with Inverness Medical Innovations, Inc. for the manufacture of Matritech's NMP22 BladderChek Test.
In addition to manufacturing, Inverness became the exclusive U.S. distributor of the NMP22 BladderChek Test to be sold through over-the-counter retail channels. Inverness and Matritech will collaborate in assessing the market opportunity, with a goal of submission of a regulatory filing seeking FDA approval to distribute and sell the test as a non-prescription or over-the-counter (OTC) test.
For the third year in a row, Matritech was named one of New England's fastest growing technology companies in Deloitte's Technology Fast 50 Program.
NMP22® BladderChek® Test:

The Journal of American Medical Association (JAMA, January 18, 2006) published the results of a study that found the NMP22 BladderChek Test significantly increased the detection of recurrent bladder cancer, finding 99% of the malignancies when used with cystoscopy. The test was positive for 8 of 9 cancers not seen by cystoscopy, including seven tumors that were aggressive or advanced. This was the second time in less than a year that the test was featured in JAMA.
Studies presented at the May 2006 American Urological Association (AUA) annual meeting expanded the role of the NMP22 BladderChek Test. Clinical investigators recommended the test be included in standard practice for diagnosing and monitoring bladder cancer.
Recommendations supporting the screening of high risk groups for bladder cancer were reported in the September 1, 2006 American Cancer Society (ACS) journal Cancer. Screening for bladder cancer in high risk individuals with the NMP22® BladderChek® Test could save lives and reduce overall medical expenses. All other cancer screening programs save lives but increase expenses.
Bladder cancer screening programs were conducted in a number of states, including screening programs for firefighters in Massachusetts, Rhode Island and California.
At the 53rd Annual Meeting of the Society for Gynecologic Investigation (SGI) in Toronto, a poster presentation, "Evaluation of a Point-Of-Care Assay for Detection of Bladder Cancer in Women at Risk," indicated the test detected 100% of aggressive tumors, one of which was muscle invasive, in women with symptoms or risk factors for bladder cancer. The test was also positive for seven conditions that required biopsy for diagnosis.
At the American College of Obstetricians and Gynecologists (ACOG) annual meeting in Washington, D.C., the test was exhibited for the first time at a U.S. gynecology conference.
Other Programs in Development:

Sysmex, Matritech's partner for the automation of cervical cancer screening continues the development of its automated instrument/NMP179® antibody system. Sysmex has previously announced its goal of launch of this system in 2008.
During 2006, Matritech's scientists continued the development and optimization of an NMP-based blood test for the diagnosis of breast cancer. After appropriate targets are identified and verified, Matritech's goal is to begin clinical trials during 2007 for a submission to the FDA.
Scheduled Web Cast of Call Today

Matritech has scheduled a conference call at 8:30 a.m. (ET) on Tuesday, February 6, 2007 to discuss the results of operations for the fourth quarter and the fiscal year and progress in the achievement of corporate objectives. This call is being web cast by CCBN and can be accessed on the Matritech website at www.matritech.com by going to the "Investor Relations" section on the site. To access the conference call by phone, the dial-in number in the United States is 866-825-1709. The International dial-in number is 617-213-8060. The pass code is 17154375.

About Matritech

Matritech is using its patented proteomics technology to develop diagnostics for the detection of a variety of cancers. The Company's first two products, the NMP22® Test Kit and NMP22® BladderChek® Test, have been FDA approved for the monitoring and diagnosis of bladder cancer. The NMP22 BladderChek Test is based on Matritech's proprietary nuclear matrix protein (NMP) technology, which correlates levels of NMPs in body fluids to the presence of cancer. Beginning with a patent portfolio licensed exclusively from the Massachusetts Institute of Technology (MIT), Matritech's patent portfolio has grown to 14 other U.S. patents. In addition to the NMP22 protein marker utilized in the NMP22 Test Kit and NMP22 BladderChek Test, the Company has discovered other proteins associated with cervical, breast, prostate, and colon cancer. The Company's goal is to utilize protein markers to develop, through its own research staff and through strategic alliances, clinical applications to detect cancer. More information about Matritech is available at www.matritech.com.

Statement under the Private Securities Litigation Reform Act

Any forward-looking statements in this press release including those related to the Company's expectations regarding future sales of the Company's products, sales in specific target markets, future products under development by the Company or third parties, and business prospects are subject to a number of risks and uncertainties, many of which are beyond the Company's control. Please refer to the risk factors detailed in the Company's periodic reports and registration statements as filed with the Securities and Exchange Commission. These forward-looking statements are neither promises nor guarantees. There can be no assurance that the Company's expectations for its products or future financial performance will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Matritech undertakes no responsibility to revise or update any such forward-looking information.

Matritech, Inc.
Financial Highlights



Three Months Ended Twelve Months Ended
December 31, December 31,

2006 2005 2006 2005
------------ ------------ ------------- ------------

Revenues $ 3,633,357 $ 2,818,192 $ 12,195,025 $10,415,470


Cost of sales 841,895 837,886 3,122,099 3,085,465
Research,
development and
clinical expense 612,051 681,465 2,868,935 2,862,744
Selling, general
and
administrative
expense 3,565,555 3,093,824 14,233,523 12,196,962
------------ ------------ ------------- ------------

Loss from
operations (1,386,144) (1,794,983) (8,029,532) (7,729,701)
------------ ------------ ------------- ------------

Interest income 16,572 19,307 136,186 120,051
Interest expense 960,011 442,339 3,986,828 2,215,102
Mark to market
income from
warrants - - - 1,899,698
Other income
(expense) (6,039) - (54,628) 60,091
------------ ------------ ------------- ------------

Net loss $(2,335,622) $(2,218,015) $(11,934,802) $(7,864,963)
============ ============ ============= ============

Beneficial
conversion
feature - - - $(1,627,232)
------------ ------------ ------------- ------------

Net loss
attributable to
common
shareholders $(2,335,622) $(2,218,015) $(11,934,802) $(9,492,195)
============ ============ ============= ============

Basic/diluted net
loss per share $ (0.04) $ (0.05) $ (0.22) $ (0.21)
============ ============ ============= ============

Basic/diluted
weighted average
number of common
shares
outstanding 56,231,511 46,951,793 54,595,633 45,002,662
============ ============ ============= ============



December 31, December 31,
2006 2005
------------ ------------

Cash & cash
equivalents $ 1,460,403 $ 1,789,792
Working capital (3,606,729) 1,643,438
Total assets 5,505,875 5,627,984
Long-term debt
(a) 95,227 9,979
Series A
convertible
preferred stock 104,312 729,495
Stockholders'
equity (2,900,452) 1,353,744



(a) At December 31, 2006 and December 31, 2005 the face value of our
current and long-term debt was $6,162,584 and $792,781 and the
carrying value was $3,412,087 and $658,521, respectively.



Contact:
Matritech
Kathleen O'Donnell, 617-928-0820 X270

--------------------------------------------------------------------------------
Source: Matritech