Cytyc Announces Three-for-One Stock Split.Business Editors/Health and Medical Writers BOXBOROUGH, Mass.--(BUSINESS WIRE)--Jan. 31, 2001 Cytyc Cytyc Corporation (NASDAQ: CYTC) engages in the design, development, manufacture, and marketing of clinical products that focus on women’s health. Its products cover a range of women's health applications, including cervical cancer screening, breast cancer risk Corporation (Nasdaq:CYTC), the manufacturer of the ThinPrep ThinPrep™ Cytology A proprietary system–Cytec, Inc, in which specimens are obtained with a special fluid collection system and the slides for cytologic examination are spread in one-cell-thick layers. See thin prep. (R) System for medical diagnostic applications, today announced that its Board of Directors approved a three-for-one split of the Company's common stock. Payable in the form of a stock dividend, all shareholders of record at the close of business on February February: see month. 16, 2001, will receive two additional shares for each share owned. The additional shares will be distributed to shareholders on or about March 2, 2001. Upon completion of the stock split, Cytyc will have approximately 113.1 million shares of common stock outstanding. "We are pleased with the continued market success of Cytyc's ThinPrep(R) Pap Test Pap test, Pap smear, or Papanicolaou test (păp'ənē`kəlou), medical procedure used to detect cancer of the uterine cervix. (TM), which has resulted in increased valuation of the Company. We believe that the three-for-one stock split of Cytyc's common stock will further improve trading liquidity and broaden ownership of the Company's common stock," said Patrick J. Sullivan, president and chief executive officer of Cytyc. Cytyc Corporation develops, manufactures, and markets the ThinPrep(R) System for medical diagnostic applications. The ThinPrep System consists of the ThinPrep(R) 2000 Processor, ThinPrep(R) 3000 Processor, and related reagents, filters, and other supplies. Cytyc(R) and ThinPrep(R) are registered trademarks and ThinPrep(R) Pap Test(TM) is a trademark of Cytyc Corporation. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this press release are made pursuant to the provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that statements in this press release which are not strictly historical statements, including, without limitation, statements regarding management's expectations for future growth and ownership of the Company's common stock, constitute forward-looking statements which involve risks and uncertainties which could cause actual results to differ, including, without limitation, risks associated with the Company's dependence on a single product, uncertainty of market acceptance and additional cost, dependence on proprietary technology, dependence on timely and adequate levels of third-party reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. , dependence on key personnel, management of growth, limited marketing and sales experience, and limited number of customers and lengthy sales cycle, as well as risks of downturns in economic conditions generally, and in the healthcare industry specifically, risks associated with competition and competitive pricing pressures, potential liabilities and costs associated with litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , and other risks detailed in the Company's filings with the Securities and Exchange Commission, including in its 1999 Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Commission. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion