FluoroPharma Raises Revenue Forecast Citing Tremendous Progress in Pipeline
FluoroPharma Medical, Inc. (OTCBB: FPMI), a company specializing in the development of novel diagnostic imaging products that utilize positron emission tomography (PET) technology for the detection and assessment of disease before clinical manifestation, today announced a significant increase in revenue forecast.
This news was shared by Thijs Spoor, Chairman, CEO and President of FluoroPharma Medical, during his presentation yesterday at the Rodman & Renshaw Annual Global Investment Conference in New York City.
According to Mr. Spoor, "Our decision to raise our revenue estimates reflects our growing confidence in the strength of our portfolio and what we see now. A few days ago, our products were included at two prestigious international Scientific Forums."
FluoroPharma's BFPET images were included at the Annual Scientific Session of the American Society of Nuclear Cardiology (ASNC) in a lecture on "Nuclear Cardiology in 2012 and Beyond: Can we Meet the Challenges?" and two abstracts describing their products were presented as posters at the World Molecular Imaging Congress as previously released by the company.
"Our initial focus is on cardiology, the largest segment of the nuclear medicine market," Mr. Spoor noted. "As our products advance through clinical trials, we are even more confident that we have three significant opportunities in this critically important market. Molecular imaging fulfills numerous unmet diagnostic needs by enabling visualization, characterization and measurement of biological processes at the molecular and cellular level," emphasizes Mr. Spoor. "Unlike the traditional imaging modalities of MRI, CT and ultrasound, which reveal anatomical abnormalities, PET provides insight into physiology and can detect disease before an anatomical manifestation is identified. The combination of both modalities is becoming a more powerful tool; helping doctors address the question, 'What do I do next for this patient?'"
FluoroPharma Medical's presentation and a copy of the presentation materials are available on the investor relations page on the Company's website www.fluoropharma.com.
About FluoroPharma Medical
FluoroPharma is a biopharmaceutical company engaged in the discovery and development of proprietary PET imaging products to evaluate cardiac disease at the cellular and molecular levels. The Company has licensed technology from the Massachusetts General Hospital in Boston.
The Company's goal is to enable personalized medicine through advanced imaging products that will help the medical community diagnose disease more accurately at the earliest stages, leading to more effective treatment, management and better patient outcomes.
The Company's initial focus is the development of breakthrough positron emission tomography (PET) imaging agents for the efficient detection and assessment of acute and chronic forms of coronary artery disease (CAD). FluoroPharma is advancing two products in clinical trials for assessment of acute and chronic forms of coronary disease. These first in class agents have been designed to rapidly target myocardial cells. Other products in development include agents for detection of inflamed atherosclerotic plaque in peripheral arteries, agents with the potential to image Alzheimer's disease and agents that could potentially be used for imaging specific cancers.
About Symptomatic coronary artery disease (CAD):
Symptomatic coronary artery disease (CAD) affects millions of patients worldwide and, according to the World Health Organization; cardiovascular diseases are the leading causes of death and disability in the world. Cardiologists' demand for faster, more accurate diagnostic tools continuously drives the development of non-invasive techniques with increased sensitivity and accuracy for the detection and assessment of acute and chronic CAD.
For more information on the Company, please visit: www.fluoropharma.com
Except for historical information contained herein, the statements in this release are forward-looking. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward looking statements in this news release include statements regarding FluoroPharma's research and development activities and anticipated operating results. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as significant fluctuations in expenses associated with clinical trials, failure to secure additional financing, the inability to complete regulatory filings with the Food and Drug Administration, the introduction of competing products, or management's ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and other information that may be detailed from time to time in FluoroPharma's filings with the United States Securities and Exchange Commission. FluoroPharma undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.