Novoste Corp. (NVTP.PK)

NOVT Corporation does not have significant operations. Prior to March 2006, the company engaged in developing therapeutic solutions for the prevention and treatment of vascular diseases. It commercialized the Beta-Cath System, an intraluminal beta radiation catheter delivery system designed to reduce restenosis subsequent to percutaneous transluminal coronary angioplasty. NOVT Corporation was co-founded by Thomas D. Weldon and Charles E. Larsen. The company was incorporated in 1987. It was formerly known as Novoste Corporation and changed its name to NOVT Corporation in 2006. The company is headquartered in Norcross, Georgia.

For the three months ended 31 March 2006, Novoste Corporation's revenues fell 88% to $406K. Net loss fell 59% to $2.7M. Revenues reflect the continuing effectiveness of drug-coated stents in reducing in-stent restenosis which has decreased the demand for NOVT's products and due to the announced wind down & termination of all sales personnel in February 2005. Lower loss reflects a decrease in research & development expenses and lower sales & marketing expenses.