Hansen Medical retracts CEO's use of the 'P' word

hansen-medical-logo.gif Hansen Medical, the Mountain View medical device company, filed a disclaimer with the SEC early Tuesday about a “May 4, 2008 New York Times article” in which “a statement concerning when (Hansen Medical) should become profitable” was attributed to “an officer” at the company.

moll.png The filing Tuesday “corrects and supersedes that statement,” which was made not just by an officer at Hansen Medical but by its very own chief executive and co-founder, Frederic Moll. In the article regarding robotic surgery Moll was quoted as saying that Hansen “should become profitable by the end of next year”.

Not (necessarily) true, the company says. Hansen Medical “has not provided, nor does it have any plans to provide, any currently applicable guidance concerning whether or when it will become profitable.” It even cites the risks spelled out in its most recent 10-K filing that “describe various factors that could prevent or materially delay the Company from reaching profitability.”

Hansen shares gained 62 cents, or 3.3 percent, to $19.16 the day after the Sunday article
appeared, building on top of a 5.5 percent gain on Friday. After the news today, its shares dropped 22 cents or 1.2 percent to $18.94.

There is at least one other bullish sign at Hansen. On April 28, it agreed to pay $7.8 million to build-out its new 63,000-square-foot office and lab facility, which is expected to be ready in the third quarter of this year.

Bay Area News Group blog editor (1221 Posts)