LINCOLNSHIRE, Ill., May 16 /PRNewswire-FirstCall/ -- Aksys(R), Ltd. , a pioneer in innovative dialysis systems, today announced that it has filed with the SEC a Form 12b-25 with respect to the filing of its Form 10-Q for the quarter ended March 31, 2006. By filing the Form 12b-25, Aksys will qualify for an automatic five-day extension for the filing of its Form 10-Q so long as Aksys is able to file the Form 10-Q with the SEC prior to May 22, 2006, which Aksys expects to do.
Although Aksys has announced its financial results for the quarter ended March 31, 2006, the process of finalizing the Form 10-Q has required additional time to complete. Aksys expects its disclosures in the Form 10-Q to be in line with the quarterly results of operations set forth in its press release issued on May 15, 2006.
About the Company
Aksys, Ltd. produces hemodialysis products, providing services for patients suffering from kidney failure. The Company's lead product, the PHD(R) System, is a currently available, advanced technology hemodialysis system designed to improve clinical outcomes of patients and reduce mortality, morbidity and the associated high cost of patient care. Aksys was the 2005 recipient of the Frost & Sullivan Medical Device Medical Devices Award. In selecting Aksys for the award, Frost & Sullivan named the Aksys Personal PHD System the "Enabling Technology of the Year." Further information is available on Aksys' website: http://www.aksys.com .
This press release contains forward-looking statements that involve a number of risks and uncertainties. Our actual results could differ materially from the results identified or implied in any forward-looking statement. These statements are based on our views as of the date they are made with respect to future results or events. These statements include, without limitation, statements relating to the anticipated filing date of our Form 10-Q for the quarter ended March 31, 2006 and statements relating to the anticipated disclosures in such Form 10-Q. Factors that could cause such a difference include, but are not limited to, the following: (i) our ability to obtain sufficient capital on acceptable terms to run our business; (ii) risks and uncertainties relating to our ability to satisfy the continued listing requirements of the NASDAQ Capital Market; (iii) uncertainty about the acceptance of the PHD System by both potential users and purchasers, including without limitation, patients, clinics and other health care providers; (iv) risks related to uncertain unit pricing and product cost, which may not be at levels that permit the Company to be profitable; (v) risks related to quality control issues and consistency of service applicable to the PHD System; (vi) market, regulatory reimbursement and competitive conditions; (vii) risks related to the failure to meet additional development and manufacturing milestones for the current or next-generation PHD System on a timely basis, including, without limitation, manufacturing and servicing cost reduction efforts; (viii) risks inherent in relying on third parties to manufacture the current PHD System or develop the next-generation PHD System; (ix) changes in QSR requirements; (x) risks related to the disposition of our common stock by Durus Life Sciences Master Fund Ltd. and its affiliates; (xi) risks related to our new POD strategy and focused resource allocation; and (xii) other factors detailed in our filings with the SEC, including its recent filings on Forms 10-K, 10-Q and 8-K. We do not undertake to publicly update or revise our forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
Aksys(R), Ltd.CONTACT: Laurence P. Birch, Chief Financial Officer & Interim CEO ofAksys(R), Ltd., +1-847-229-2222
Web site: http://www.aksys.com/
