ENTEROMEDICS INC
			Symbol			ETRM

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EnteroMedics Announces Third Quarter 2009 Financial Results

2009-10-23 07:30 ET - News Release

Company Receives Notice of NASDAQ Listing Deficiency

ST. PAUL, Minn. -- (Business Wire)

EnteroMedics Inc. (NASDAQ: ETRM), the developer of medical devices using neuroblocking technology to treat obesity and other gastrointestinal disorders, today reported financial results for the three and nine months ended September 30, 2009.

For the three months ended September 30, 2009, the Company reported a net loss of $12.0 million, or $0.40 per share, including non-cash expense of $3.8 million related to the revaluation of warrant liability, research and development expenses of $4.6 million, and general and administrative expenses of $2.7 million. For the nine months ended September 30, 2009, the Company reported a net loss of $29.0 million, or $1.06 per share. Operating expenses were primarily associated with the cost of supporting the Company’s clinical trials and the development of VBLOC® vagal blocking therapy delivered through the Company’s Maestro® System. On September 30, 2009, the Company's cash, cash equivalents and short-term investments totaled $27.1 million, which does not reflect the proceeds of its October 2, 2009 agreement with an institutional investor to raise $4.9 million in a registered direct offering of its common stock.

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