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Prospector
Profile
3-19-001
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| Alsius Corporation |
NAICS |
339112 |
| 15770 Laguna Canyon Road, Suite 150,
Irvine, CA 92618 |
Description |
Medical Instrument Mfg. |
| (949) 453-0150 |
Employees |
100 |
| http://www.alsius.com |
Revenue |
(mil) |
9.1100 |
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Income |
(mil) |
-22.2400 |
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Assets |
(mil) |
35.6000 |
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Liability |
(mil) |
11.5900 |
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(for the year ended 2007-12-31) |
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Category:
Audit Concerns
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Event:
Deloitte & Touche LLP raised substantial doubt about Alsius Corp.'s ability to continue as a going concern after auditing the Company's consolidated financial statements for the year ended December 31, 2007. The auditor pointed to the Company's recurring losses from operations. The Company has incurred significant net losses since inception, and has relied on its ability to obtain financing. Management expects operating losses and negative cash flows to continue for the foreseeable future as the company incurs additional costs and expenses related to continued development of its products, and obtaining Food and Drug Administration approval for new indications. The Company reported a $22,235,000 net loss on $9,114,000 of revenues for the year ended December 31, 2007, as compared with a $17,578,000 net loss on $5,979,000 of revenues in 2006. The Company's balance sheet at December 31, 2007, showed $35,602,000 in total assets, $11,590,000 in total liabilities, and $24,012,000 in total stockholder's equity.
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Intellectual Property:
The Company has invested considerable resources in intellectual property strategy and relies on a combination of patents, copyrights, trademarks and trade secret laws, as well as confidentiality and invention assignment agreements, to protect its innovations. As of December 31, 2007, the Company's products were covered by 34 issued U.S. patents. It also has U.S. patent applications pending directed to current and future products. As of December 31, 2007, the Company's products were covered internationally by five issued patents. It has other foreign patent applications pending directed to current and future products. The Company believes its patent portfolio provides a competitive advantage in key markets, particularly for inducing hypothermia with a catheter in specified indications and for fever control using a central venous catheter. Alsius, CoolGard, Cool Line, Icy and Fortius are registered trademarks in the United States and the European Union. The Company also requires employees, consultants and certain vendors to sign confidentiality and invention assignment agreements. [SEC Filing 10-K 03-13-08]
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Description:
Alsius Corporation through its wholly owned subsidiary, Alsius Medical Corporation, develops, manufactures, markets, and sells catheter-based products to control patient temperature in hospital critical care settings.
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Officers:
Paul A. Brooke (Chair); William J. Worthen (Pres. & CEO); Brett L. Scott (CEO); Eric M.Hecht (Dir.); Wende S. Hutton (Dir.); Jack W. Lasersohn (Dir.); Gregory D. Waller (Dir.); Kurt C. Wheeler (Dir.)
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Auditor:
Deloitte & Touche LLP
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Securities:
Common Stock Symbol ALUS; NasdaqCM; 21,076,134 common shares outstanding as of March 7, 2008.
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