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PLC Systems Inc. (PLCSF/PLCSF.OB) Stock Summary:

PLC Systems, Inc., a medical device company, develops technologies for the cardiac and vascular markets primarily in the United States. It manufactures CO2 Heart Laser System that is used to perform carbon dioxide transmyocardial revascularization to alleviate symptoms of severe angina. The company also develops RenalGuard, which is designed to reduce the toxic effects that contrast media can have on the kidneys that can lead to contrast-induced nephropathy, a potentially deadly form of acute kidney injury. In addition, it offers CO2 surgical laser tubes, as well as provides contract assembly services on general purpose CO2 lasers that it sells to a single customer on an original equipment m...
8 Employees
Last Reported Date: 03/29/13
Founded in 1987
Last $0.04 USD
Change Today +0.0019 / 4.74%
Volume 53.2K
As of 8:10 PM 02/21/14 All times are local (Market data is delayed by at least 15 minutes).

plc systems inc (PLCSF) Snapshot

Open
$0.04
Previous Close
$0.04
Day High
$0.04
Day Low
$0.04
52 Week High
03/4/13 - $0.25
52 Week Low
11/6/13 - $0.04
Market Cap
6.8M
Average Volume 10 Days
151.9K
EPS TTM
$-0.15
Shares Outstanding
161.4M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
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plc systems inc (PLCSF) Key Developments

PLC Systems Inc. Announces Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013

PLC Systems Inc. announced consolidated unaudited earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported revenues of $348,000 against $212,000 a year ago. Loss from operations was $1,270,000 against $1,095,000 a year ago. Net loss was $609,000 against $3,165,000 a year ago. Net loss per weighted average share, basic was $0.01 against $0.10 a year ago. The increase in revenue was due to a higher volume of RenalGuard single-use sets sold, off-set by a lower volume of consoles sold to international distributors. For the nine months, the company reported revenues of $1,069,000 against $595,000 a year ago. Loss from operations was $3,625,000 against $3,230,000 a year ago. Net loss was $473,000 against $11,388,000 a year ago. Net loss per weighted average share, basic was $0.01 against $0.37 a year ago.

PLC Systems Inc. Receives Approval from Japanese Ministry of Health, Labor and Welfare to Conduct 60-Patient Clinical Trial

PLC Systems Inc. announced that the Japanese Ministry of Health, Labor and Welfare (MHLW) has approved the initiation of a clinical trial in Japan using RenalGuard Therapy(R). The Japanese MHLW granted this approval after reviewing previously published studies of RenalGuard Therapy and data from two cases where Japanese physicians used RenalGuard(R) to protect patients at risk of Contrast-Induced Acute Kidney Injury (CI-AKI). RenalGuard is currently CE-Marked and being distributed throughout Europe to prevent AKI. This single-arm clinical trial is designed to enroll 60 patients at two sites. The objective of the study is to evaluate the ability of RenalGuard Therapy to reduce the incidence of CI-AKI in at risk patients when compared to the expected rate of CI-AKI. The study will enroll patients with pre-existing kidney dysfunction that are undergoing a catheterization procedure using contrast dye. The primary endpoint is combined incidence of CI-AKI and serious in-hospital therapy-related adverse events compared to the expected rate based on the patients' risk factors.

PLC Systems Inc. Provides Update on Renalguard Therapy Study

PLC Systems Inc. announced that the first patient has been treated in a trial that has been initiated at Tel Aviv Sourasky Medical Center in Israel by Dr. Yaron Arbel, the Director of the hospital's Cardio Vascular Research Center. The trial is expected to enroll up to 200 patients and is large study designed to evaluate the effectiveness of RenalGuard Therapy(R) at preventing acute kidney injury (AKI) in patients undergoing Transcatheter Aortic Valve Implantation (TAVI). The trial will evaluate whether forced diuresis with matched hydration will reduce the incidence of contrast induced nephropathy in patients undergoing TAVI. Patients will be randomized to receive either RenalGuard or placebo comparator. The primary endpoint is the reduction of acute kidney injury at 48-72 hours. TAVI is a minimally invasive procedure for replacing diseased aortic valves in patients that are not candidates for cardiac surgery. However, a significant complication of these procedures is Acute Kidney Injury (AKI). According to data published in EuroIntervention in 2012, the incidence of AKI after TAVI is as high as 36%. Numerous studies have shown that the development of AKI after TAVI leads to significantly worse long-term outcomes, including increased mortality after one year. AKI is characterized by a rapid reduction in kidney function resulting in a failure to maintain fluid, electrolyte and acid-base homoeostasis. According to the Renal Association, an estimated 5-20% of critically ill patients experience an episode of AKI during the course of their illness. AKI can be fatal and requires intensive treatment. RenalGuard is intended to prevent AKI by achieving high urine output safely through automatic and continuous measuring of the patient's urine output and matching that volume by infusing an equal volume of hydration fluid. RenalGuard allows patients to receive as much fluid as they produce while minimizing the risk of over- or under-hydration. In two previously conducted studies, RenalGuard Therapy(R) has been shown to reduce the incidence of acute renal failure following cardiac catheterization.

PLC Systems Inc. financial resources

otc, otcbb, pinksheet, PLCSF, ob PLC Systems Inc.
 

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Archieved Financial News About PLC Systems Inc.

PLC Systems Reports Second Quarter 2011 Results

Keywords: PLC Systems Reports Second Quarter 2011 Results, plcsf.ob
Quote: Tauscher, President and Chief Executive Officer of PLC Systems Inc., stated, "I am pleased to see that in the second quarter this year, as we anticipated, we were successful in reviving RenalGuard sales in the European Union to levels higher than we produced in any quarter last year.  We believe we are now in a better position from which to add more distributors, expand market penetration and develop meaningful sales traction in the European market, and other countries where RenalGuard is alr...
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PLC Ramps Up for U.S. Clinical Trial of RenalGuard®

Keywords: PLC Ramps Up for U.S. Clinical Trial of RenalGuard®, plcsf.ob
Quote:
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PLC Medical Systems Adds Vice President of Clinical Affairs

Keywords: PLC Medical Systems Adds Vice President of Clinical Affairs, plcsf.ob
Quote: Papalia joins PLC Medical Systems from Correx, Inc., where she was VP of Clinical Affairs and played a key role in the launch of the Correx Aortic Valve Bypass (AVB) kit in the EU and Canada.  Prior to that, she held a series of senior clinical affairs positions at both Boston Scientific Corporation and Mitralign, Inc. and clinical research positions in cardiology at the New England Medical Center and St. Elizabeth's Hospital in Boston, MA. Ms. Papalia earned her degrees at SUNY Plattsburgh a...
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PLC SYSTEMS INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exhibits

Quote: Item 2.02.Results of Operations and Financial Condition. On May 16, 2011, PLC Systems Inc. announced its financial results for the quarter ended March 31, 2011.The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Form 8-K (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Ac...
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PLC Systems Reports First Quarter 2011 Results

Keywords: PLC Systems Reports First Quarter 2011 Results, plcsf.ob
Quote: Tauscher, President and Chief Executive Officer of PLC Systems Inc., stated, "PLC's results for the first quarter of 2011 reflect the financial uncertainty that surrounded our company at the start of the year. Now that we have completed this period of transition, highlighted by the successful closing of the sale of our TMR business to Novadaq and the completion of an important round of financing, we are on a much more solid financial footing. Accordingly, we now can recommence the U.S. pivotal t...
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PLC to Demonstrate RenalGuard® at EuroPCR 2011

Keywords: PLC to Demonstrate RenalGuard® at EuroPCR 2011, plcsf.ob
Quote: Tauscher, president and chief executive officer of PLC Systems, said, "CIN is a significant and growing concern worldwide, and we are very encouraged by the prospect that RenalGuard could prevent it. The very positive results from the REMEDIAL II trial in Italy showed that at-risk patients treated with PLC's RenalGuard had a 46% lower incidence of CIN and an 85% lower rate of requiring dialysis, both of which are clinically significant and meaningful in terms of patient care and costs.   Euro...
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PLC SYSTEMS INC Files SEC form 8-K, Change in Directors or Principal Officers, Financial Statements and Exhibits

Quote: PLC SYSTEMS INCRequest a Trial to NEW EDGAR Online Pro Form 8-K for PLC SYSTEMS INC 5-May-2011Change in Directors or Principal Officers, Financial Statements and Exhibits Privacy PolicyAbout Our AdsTerms of ServiceCopyright/IP PolicySend FeedbackYahoo! News NetworkSEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent provi...
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Method protects kidneys from dye in contrast agents

Quote: In a study, dubbed Remedial II, PLC Medical Systems Inc's (PLCSF.OB) RenalGuard System -- which uses a limited dose of furosemide -- was shown to be less likely to cause kidney damage. The dye component of contrast agents is particularly dangerous for patients with pre-existing kidney problems, raising their risk of kidney failure during or after a cardiology procedure. The trial, conducted in Italy, involved 292 patients with chronic kidney disease who were awaiting noninvasive heart procedures...
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PLC Systems Reports Fourth Quarter 2010 Results

Keywords: PLC Systems Reports Fourth Quarter 2010 Results, plcsf.ob
Quote: Tauscher, president and chief executive officer of PLC Systems Inc., stated, "The final quarter of 2010 was a period of significant transition for PLC, with the successful negotiation of the sale of our TMR business to our North American partner, Novadaq. We were also focused on arranging needed financing for our business, in addition to the monies gained via the sale of the TMR business. Despite these distractions, our results for the fourth quarter were slightly improved over the prior year pe...
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PLC SYSTEMS INC Files SEC form 8-K, Change in Directors or Principal Officers, Financial Statements and Exhibits

Quote: PLC SYSTEMS INCRequest a Trial to NEW EDGAR Online Pro Form 8-K for PLC SYSTEMS INC 16-Mar-2011Change in Directors or Principal Officers, Financial Statements and Exhibits Privacy PolicyAbout Our AdsTerms of ServiceCopyright/IP PolicySend FeedbackYahoo! News NetworkSEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent prov...
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PLC Systems Secures $4 Million in Financing

Keywords: PLC Systems Secures $4 Million in Financing
Quote: Tauscher, president and chief executive officer of PLC Systems Inc., stated, "We have worked diligently to secure the funding needed to re-commence our U.S. clinical trial program for RenalGuard, and we are delighted that we have achieved this goal. This critical step truly ushers in a new day for PLC, one that is wholly focused on the opportunity of RenalGuard. We remain convinced that RenalGuard addresses a critical unmet need, a belief supported by the positive scientific data gathered from I...
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PLC SYSTEMS INC Files SEC form 8-K, Entry into a Material Definitive Agreement, Creation of a Direct Financial Obliga

Quote: Item 1.01.Entry into a Material Definitive Agreement. PLC Systems Inc., a Yukon Territory corporation (the "Company"), has entered into a Securities Purchase Agreement (the "Purchase Agreement") dated February 22, 2011 with GCP IV LLC (the "Investor"), pursuant to which the Company has (i) issued and sold to the Investor, and the Investor has purchased from the Company, an aggregate of $4 million in principal amount (the "Debenture Amount") of 5% Senior S...
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PLC SYSTEMS INC Files SEC form 8-K, Completion of Acquisition or Disposition of Assets, Submission of Matters to a Vo

Quote: Item 2.01.Completion of Acquisition or Disposition of Assets. On November 5, 2010,PLC Systems, Inc., a Yukon Territory corporation (the "Company"), entered into an Asset Purchase Agreement (the "Purchase Agreement") with PLC Medical Systems, Inc., a Delaware corporation and a wholly owned subsidiary of the Company, PLC Sistemas Medicos Internacionais (Deutschland) GmbH, a German corporation and a wholly owned subsidiary of the Company, and Novadaq Corp., a Delaware corporati...
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PLC Systems Completes Sale of TMR Business to Novadaq

Keywords: PLC Systems Completes Sale of TMR Business to Novadaq, ndq.to,plcsf.ob
Quote: 2, 2011PLCSF.obNews), a company focused on innovative medical device-based technologies, today announced that it had completed the sale of  its Transmyocardial Revascularization (TMR) business to NDQ.toNews), a developer of real-time imaging systems for use in the operating room. Novadaq has been the exclusive United States distributor of PLC's CO2 Heart Laser Systems and related kits for TMR since March 2007.The sale, which was announced in November 2010, was approved by PLC's shareholders a...
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PLC SYSTEMS INC Files SEC form 8-K, Results of Operations and Financial Condition, Financial Statements and Exhibits

Quote: Item 2.02.Results of Operations and Financial Condition On November 15, 2010, PLC Systems Inc. announced its financial results for the quarter ended September 30, 2010.The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Form 8-K (including Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exc...
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PLC Systems Reports Third Quarter 2010 Results

Keywords: PLC Systems Reports Third Quarter 2010 Results, plcsf.ob
Quote: Tauscher, president and chief executive officer of PLC Systems Inc., stated, "In the third quarter, PLC faced some challenging distractions that have now been successfully resolved. We had been in negotiations with our exclusive U.S. TMR distributor, Novadaq Technologies, to purchase the entire TMR business, and were very pleased to announce last week that we had signed an agreement to sell this business.  This important step will provide a critical cash infusion to our company, and enable us...
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PLC SYSTEMS INC Files SEC form 8-K, Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Quote: Item 1.01.Entry into a Material Definitive Agreement. Asset Purchase Agreement and Amendment to Distribution Agreement PLC Systems, Inc., a Yukon Territory corporation (the "Company"), has entered into an Asset Purchase Agreement (the "Purchase Agreement") dated November 5, 2010 with PLC Medical Systems, Inc., a Delaware corporation and a wholly owned subsidiary of the Company ("PLC Medical"), PLC Sistemas Medicos Internacionais (Deutschland) GmbH, a German corpo...
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PLC Systems Signs TMR Asset Sale Agreement with Novadaq

Keywords: PLC Systems Signs TMR Asset Sale Agreement with Novadaq, ndq.to,plcsf.ob
Quote: 8, 2010PLCSF.obNews), a company focused on innovative medical device-based technologies, today announced that it had signed a definitive agreement to sell all of its Transmyocardial Revascularization (TMR) assets to NDQ.toNews), a developer of real-time imaging systems for use in the operating room. Novadaq has been the exclusive United States distributor of PLC's CO2 Heart Laser Systems and related kits for TMR since March 2007.Under terms of the agreement, Novadaq will acquire all of PLC's ass...
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PLC SYSTEMS INC Files SEC form 8-K, Change in Directors or Principal Officers

Quote: PLC SYSTEMS INCRequest a Trial to NEW EDGAR Online Pro Form 8-K for PLC SYSTEMS INC 4-Oct-2010Change in Directors or Principal OfficersPrivacy PolicyAbout Our AdsTerms of ServiceCopyright/IP PolicySend FeedbackYahoo! News NetworkSEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational...
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MYTHOS RenalGuard® Trial Demonstrates Greater Efficacy Than Current Standard of Care

Keywords: MYTHOS RenalGuard® Trial Demonstrates Greater Efficacy Than Current Standard of Care, plcsf.ob
Quote: Tauscher, president and chief executive officer of PLC Systems, said, "We are extremely pleased that the latest updated results of the MYTHOS clinical trial corroborate earlier preliminary findings from this trial and provide scientific evidence that RenalGuard is more effective in combating CIN than overnight hydration. This is a pivotal point for PLC, one that we have awaited for several years, and we're delighted that these results are being shared at TCT with a wide range of clinicians and p...
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