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Enteromedics Inc (ETRM) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Enteromedics Inc

CIK: 1371217 Ticker: ETRM

Exhibit 99.1

 

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Contact:

EnteroMedics Inc.

Greg S. Lea

(651) 789-2860

ir@enteromedics.com

EnteroMedics Reports Fourth Quarter 2012 Financial Results

ST. PAUL, Minnesota, February 13, 2013

– EnteroMedics Inc. (NASDAQ: ETRM), the developer of medical devices using neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders, today announced financial results for the three months and full year ended December 31, 2012.

For the full year ended December 31, 2012, the Company reported a net loss of $23.5 million, or $0.59 per share. For the three months ended December 31, 2012, the Company reported a net loss of $7.0 million, or $0.17 per share, including research and development expenses of $3.1 million and selling, general and administrative expenses of $3.6 million. Operating expenses were primarily associated with the cost of supporting the Company’s multiple, ongoing clinical trials, including the ReCharge Study, international commercialization efforts and the continued development of VBLOC® vagal blocking therapy delivered through the Company’s Maestro® System. On December 31, 2012, the Company’s cash, cash equivalents, restricted cash and short-term investments totaled $22.5 million.

About EnteroMedics Inc.

EnteroMedics is a medical device company focused on the development and commercialization of its neuroscience based technology to treat obesity and metabolic diseases. EnteroMedics’ proprietary technology, VBLOC® vagal blocking therapy, delivered by a pacemaker-like device called the Maestro® Rechargeable System, is designed to intermittently block the vagus nerves using high-frequency, low-energy, electrical impulses. VBLOC allows people with obesity to take a positive path towards weight loss, addressing the lifelong challenge of obesity and its comorbidities without sacrificing wellbeing or comfort. EnteroMedics’ Maestro Rechargeable System has received CE Mark and is listed on the Australian Register of Therapeutic Goods.


The following information was filed by Enteromedics Inc (ETRM) on Wednesday, February 13, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' Equity (deficit)
Consolidated Statements Of Stockholders' Equity (deficit) (parenthetical)
Accrued Expenses
Accrued Expenses (tables)
Amortized Cost And Fair Value Of Short-term Investments Available For Sale, And Related Gross Unrealized Gains And Losses (detail)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Computation Of Basic And Diluted Net Loss Per Share (detail)
Convertible Preferred Stock
Convertible Preferred Stock - Additional Information (detail)
Current Inventory (detail)
Deferred Tax Assets (detail)
Estimated Grant-date Fair Values Of Employee Stock Options (detail)
Formation And Business Of The Company
Formation And Business Of The Company - Additional Information (detail)
Future Minimum Payments Under Lease (detail)
Income Tax - Additional Information (detail)
Income Taxes
Income Taxes (tables)
Inventory
Inventory (tables)
Inventory - Additional Information (detail)
Notes Payable
Notes Payable (tables)
Notes Payable - Additional Information (detail)
Options Outstanding Vested And Currently Exercisable By Exercise Price (detail)
Potential Shares Of Common Stock Not Included In Calculation Of Diluted Net Loss Per Share (detail)
Property And Equipment
Property And Equipment (detail)
Property And Equipment (tables)
Quarterly Data
Quarterly Data (tables)
Quarterly Information (detail)
Related Party Transactions
Related Party Transactions (tables)
Related Party Transactions - Additional Information (detail)
Retirement Plan
Schedule Of Accrued Expenses (detail)
Schedule Of Debt Principal Payments (detail)
Shares Purchased By Related Parties (detail)
Short-term Investment Classified As Available For Sale (detail)
Short-term Investments And Fair Value Measurements
Short-term Investments And Fair Value Measurements (tables)
Stock Option - Additional Information (detail)
Stock Options
Stock Options (tables)
Stock Sales
Stock Sales - Additional Information (detail)
Stock Warrant Activity (detail)
Stock-based Compensation For Non Employees (detail)
Subsequent Event
Subsequent Event - Additional Information (detail)
Summary Of Eligible Options Tendered For Cancellation In Exchange Offer (detail)
Summary Of Notes Payable (detail)
Summary Of Notes Payable (parenthetical) (detail)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Additional Information (detail)
Summary Of Stock Option Activity (detail)
Tax Rate Reconciliation (detail)
Warrants
Warrants (tables)
Warrants - Additional Information (detail)
Ticker: ETRM
CIK: 1371217
Form Type: 10-K Annual Report
Accession Number: 0001193125-13-096235
Submitted to the SEC: Thu Mar 07 2013 5:09:57 PM EST
Accepted by the SEC: Thu Mar 07 2013
Period: Monday, December 31, 2012
Industry: Electromedical And Electrotherapeutic Apparatus

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