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"The reverse split is part of a series of strategic actions we are taking to strengthen our financial position for future growth and development," commented Jeffrey O'Donnell, chief executive officer of PhotoMedex.
A new CUSIP identification number of 719358202 will be assigned to all stock certificates to differentiate them from pre-split certificates. Stockholders who have existing stock certificates will receive instructions from the Company's transfer agent, StockTrans, Inc., on how to exchange their stock certificates.
About PhotoMedex
PhotoMedex is engaged in the development of proprietary excimer laser and fiber optic systems and techniques directed toward dermatological applications, with FDA 510(k) clearances to market the XTRAC(R) laser system for the treatment of psoriasis, vitiligo, atopic dermatitis and The Company is a leader in the development, manufacturing and marketing of medical laser products and services. In addition, as a result of the merger with ProCyte, PhotoMedex now develops and markets products based on its patented, clinically proven Copper Peptide technology for skin health, hair care and wound care. PhotoMedex sells directly to dermatologists, plastic and cosmetic surgeons, and salons. ProCyte brands include Neova(R), Ti-Silc(R), VitalCopper(R), Simple Solutions(R) and AquaSante(R).
This press release includes forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements.
DB1/62504487.1
SOURCE: PhotoMedex, Inc.
Company Contact: PhotoMedex, Inc. Dennis McGrath, CFO 215-619-3287 info@photomedex.com or Investor Contacts: Lippert/Heilshorn & Associates, Inc. Kim Sutton Golodetz, 212-838-3777 Kgolodetz@lhai.com or Bruce Voss, 310-691-7100 Bvoss@lhai.com
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