(TSNI.OB) 3D Breast Ultrasound Imaging Medical Company TechniScan Files SEC Form 10-Q

(PublicWire.com News Release)TechniScan (OTCBB: TSNI), a medical device company engaged in the development and commercialization of an automated 3D breast ultrasound imaging system, has filed their SEC Form 10-Q

From the filing:

We are a development stage company. Our development stage began January 1, 2002 when we were capitalized for the research, development, and commercialization of innovative medical imaging products for the detection and diagnosis of breast cancer. We consider our operations to comprise one business segment.

Our current commercial focus is the development of an ultrasound-based product, the WBU system, that is expected to provide radiologists with information about the bulk properties of tissue in the breast as well as useful images of the tissue structure.

Our technology has been developed through research supported, in part, by federal research grants and private and government research contracts.

From inception through June 30, 2010, we have generated revenues solely from grants and research contracts. The WBU system has not yet been approved by the FDA for commercial sale; therefore, we have not yet generated revenues from non-research product sales. We have incurred losses since we began operating. As of June 30, 2010 and December 31, 2009, we had an accumulated deficit of $29,365,992 and $25,187,868, respectively. To date, we have been dependent on debt and equity funding to support our operations, and we will continue to be dependent on similar financing to support our operations until we generate significant revenues from the WBU system.

(TSNI.OB) 3D Breast Ultrasound Imaging Medical Company TechniScan Files SEC Form 10-Q

TechniScan was among the 25 top emerging medical technology companies featured on Life Science Intelligence’s (LSI) investor presentation.

TechniScan’s warm bath, 3D breast imaging device is designed to capture three-dimensional images of the breast as a woman lies prone on a table and state-of-the-art ultrasound technology is used in a warm water tank to image the breast anatomy. Its revolutionary new method of imaging produces information and whole breast images that are not available with traditional reflection ultrasound or whole breast ultrasound systems presently on the market.

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