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 PHOENIX, Nov. 10 /PRNewswire/ -- OrthoLogic(R) (NASDAQ-NMS: OLGC), a developer of technologically advanced orthopaedic trauma products, today reported a third quarter 1993 loss of $910,628, or $.14 per share, compared to a loss of $686,236, or $.18 per share, for the same 1992 quarter.
 Sales of OrthoLogic's first commercial product, the company's OrthoFrame(TM) external fixation device, totaled $101,759 for the third quarter 1993. There were no sales for the comparable quarter of 1992. The company also reported grant revenue of $25,000 for the third quarter of 1993 compared to no grant revenue for the same quarter of 1992.
 "OrthoFrame responds to the market's need for innovative, technologically advanced alternative orthopaedic devices that reduce the cost of patient care," said Allan Weinstein, president and chief executive officer of OrthoLogic. "We're delighted with the response OrthoFrame has received to date from orthopaedic surgeons."
 Operating expenses for the third quarter 1993 were $1,063,948, an increase of 60 percent over the same period in 1992. This was due to increased research and development activities and increased clinical and regulatory costs.
 Research and development expenses in 1993 include development costs associated with OrthoFrame which were not incurred in 1992. Clinical and regulatory costs increased as a result of accelerated enrollments of patients and investigators participating in the clinical trial of the company's SpinaLogic(TM) 1000 product, initiated in February 1993. SpinaLogic 1000 is a portable, noninvasive bone growth stimulator, designed as an adjunctive post-surgical treatment to enhance healing in patients who undergo spinal fusion procedures.
 For the nine months ended Sept. 30, 1993, the net loss was $2,491,405, or $.38 per share, compared to a loss of $2,279,104, or $.61 per share, for the same 1992 period.
 OrthoLogic also announced that it has terminated its exclusive distribution agreements for the OrthoFrame and OrthoLogic 1000 products with Thera-Kinetics, Inc. A new agreement grants Thera-Kinetics the rights to sell OrthoFrame in certain defined territories in the United States. The company is currently negotiating agreements with independent specialty orthopaedic dealers to sell and market OrthoFrame throughout the remainder of the United States and the world, and expects to announce the first group of these agreements shortly.
 OrthoLogic is a developer of technologically advanced orthopaedic trauma products that enhance healing of musculoskeletal tissues. The company, founded in 1987, completed its initial public offering (IPO) in January 1993, and is headquartered in Phoenix.
 OrthoLogic, OrthoFrame and SpinaLogic are all trademarks or registered trademarks of OrthoLogic Corp.
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 /CONTACT: Allan M. Weinstein of OrthoLogic Corp., 602-437-5520/

CO: OrthoLogic Corp. ST: Arizona IN: MTC SU: ERN

MF-JB -- LA018 -- 3228 11/11/93 12:26 EST
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Publication:PR Newswire
Date:Nov 11, 1993

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