SOURCE: BIOLASE Technology, Inc.

May 16, 2005 08:00 ET

BIOLASE Updates Status of NASDAQ Listing

SAN CLEMENTE, CA -- (MARKET WIRE) -- May 16, 2005 -- BIOLASE Technology, Inc. (NASDAQ: BLTIE), a medical technology company that develops, manufactures and markets lasers and related products for dental and medical applications, announced today that the Company met with the NASDAQ Listing Qualifications Panel on May 12, 2005, to discuss the continued listing of BIOLASE’s securities on the NASDAQ National Market. At that meeting, the Company discussed its progress in completing its Annual Report on Form 10-K for the year ended December 31, 2004, and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2005, as well as any potential prior period adjustments. The Company’s securities will continue to be listed on NASDAQ while the Panel considers whether to grant an extension. The Company expects to receive a decision from the panel within the next 35 days. At the meeting, the Company agreed to keep the Panel apprised of its progress as it works to complete its Form 10-K and Form 10-Q.

About BIOLASE

BIOLASE Technology, Inc. (http://www.biolase.com) is a medical technology company that designs, manufacturers and markets proprietary dental laser systems that allow dentists, oral surgeons and other specialists to perform a broad range of common dental procedures, including cosmetic applications. The Company's products incorporate patented and patent-pending technologies focused on reducing pain and improving clinical results. Its primary product, the Waterlase® system, is the best selling dental laser system. The Waterlase® system uses a patented combination of water and laser to precisely cut hard tissue, such as bone and teeth, and soft tissue, such as gums, with minimal or no damage to surrounding tissue. The Company also offers the LaserSmile™ system, which uses a laser to perform soft tissue and cosmetic procedures, including tooth whitening.

This release contains forward-looking statements that are based on the current expectations of the Company’s management. These forward-looking statements can be identified through the use of words such as "plans" or similar expressions. Forward-looking statements in this release include statements regarding compliance with listing standards of The Nasdaq Stock Market, an appeal from, and an interim stay with respect to, delisting from The Nasdaq National Market and the filing of a Form 10-K and Form 10-Q by the Company. These statements speak only as of the date hereof, are based upon the information available to the Company now, are not guarantees of future outcomes and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Actual outcomes could differ materially and adversely from those expressed in any forward-looking statements as a result of a number of factors including, but not limited to, the results of the hearing before the NASDAQ Listing Qualifications Panel and whether the Company can effect a filing of the Form 10-K and Form 10-Q and otherwise comply with the listing standards of The Nasdaq Stock Market before any delisting decision is reached with an unfavorable determination. Such information is subject to change, and the Company undertakes no obligation to update such statements.

Contact Information

  • For further information, please contact:

    Robert E. Grant
    President & CEO

    John W. Hohener
    Executive Vice President and CFO

    Or

    Scott Jorgensen
    Director of Finance & Investor Relations
    BIOLASE Technology, Inc.
    +1-949-361-1200.