BURLINGTON, Mass., March 18 /PRNewswire-FirstCall/ -- Palomar Medical
Technologies Inc (Nasdaq: PMTI) reports today its common stock has begun
trading on the Nasdaq National Market System. Palomar has met all the
requirements for listing on the Nasdaq National Market and has upgraded from
the Nasdaq Small Cap Market System while retaining the same ticker symbol,
PMTI.
"We are extremely proud of Palomar's ability to meet the listing criteria
for the Nasdaq National Market," stated Chief Executive Officer Joseph P.
Caruso. "The listing serves as an endorsement that Palomar has met the
stringent requirements outlined by Nasdaq for listing on its national market
and reiterates our growing position on Wall Street."
Chief Financial Officer Paul S. Weiner commented, "Trading on the Nasdaq
National Market could result in increased visibility among institutional
investors with listing restrictions and additional analyst coverage."
About Palomar Medical Technologies Inc: Palomar is a leading researcher
and developer of light-based systems for hair removal and other cosmetic
treatments. Last year, Palomar and The Gillette Company (NYSE: G) entered into
an agreement to complete development and commercialize a patented home-use,
light-based hair removal device for women. New and exciting indications are
being tested to further advance the hair removal market and other cosmetic
applications. Palomar pioneered the optical hair removal field, when, in 1997,
it introduced the first high-powered laser hair removal system. Since then,
many of the major advances in light-based hair removal have been based on
Palomar technology. There are now millions of light-based cosmetic procedures
performed around the world every year in physician offices, clinics, spas and
salons.
For more information on Palomar and its products, visit Palomar's website
at http://www.palomarmedical.com. To continue receiving the most up-to-date
information and latest news on Palomar as it happens, sign up to receive
automatic e-mail alerts by going to the E-mail Alerts page in the Investor
Relations' section of the website.
With the exception of the historical information contained in this
release, the matters described herein contain forward-looking statements,
including but not limited to statements relating to new markets, development
and introduction of new products, and financial projections that involve risk
and uncertainties that may individually or mutually impact the matters herein,
and cause actual results, events and performance to differ materially from
such forward-looking statements. These risk factors include, but are not
limited to, results of future operations, technological difficulties in
developing or introducing new products, the results of future research, lack
of product demand and market acceptance for current and future products, the
effect of economic conditions, challenges in managing joint ventures and
research with third parties, the impact of competitive products and pricing,
governmental regulations with respect to medical devices, including whether
FDA clearance will be obtained for future products, the results of litigation,
difficulties in collecting royalties, potential infringement of third-party
intellectual property rights, and/or other factors, which are detailed from
time to time in the Company's SEC reports, including the report on Form 10-K
for the year ended December 31, 2003 and the Company's quarterly reports on
Form 10-Q. Readers are cautioned not to place undue reliance on these forward-
looking statements, which speak only as of the date hereof. The Company
undertakes no obligation to release publicly the result of any revisions to
these forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
Contacts:
Investor Relations
Palomar Medical Technologies Inc
781-993-2411
ir@palmed.com
SOURCE Palomar Medical Technologies, Inc.
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Related links:
http://www.palmed.com
Company News On-Call:
http://www.prnewswire.com/comp/107555.html
CONTACT:
Investor Relations: Palomar Medical
Technologies Inc, +1-781-993-2411, ir@palmed.com
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