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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 20, 1997
TARGET THERAPEUTICS, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
0-19801 95-3962471
(Commission File Number) (IRS Employer Identification No.)
47201 Lakeview Blvd., Fremont, CA 94538
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (510) 440-7700
N/A
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On February 20, 1997, Target Therapeutics, Inc., a Delaware corporation
(the "Company"), announced that it has received final clearance from the
Ministry of Health and Welfare (MWH) in Japan to market the latest generation
Guglielmi Detachable Coil (GDC(R)) System in that country. Further details
regarding this announcement are contained in the Company's press release dated
February 20, 1997 attached as an exhibit hereto and incorporated by reference
herein.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) EXHIBITS.
Exhibit 99.1 Target Therapeutics, Inc. Press Release dated
February 20, 1997.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
TARGET THERAPEUTICS, INC.
(Registrant)
Dated: February 24, 1997 By: /s/ Robert E. McNamara
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Robert E. McNamara
Vice President, Finance and Administration,
Chief Financial Officer (Principal Financial
and Accounting Officer) and Assistant
Secretary
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INDEX TO EXHIBITS
Exhibits.
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99.1 Target Therapeutics, Inc. Press Release dated February 20, 1997.
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EXHIBIT 99.1
Target Therapeutics Receives Final Clearance to Market GDC in Japan
FREMONT, Calif., Feb. 20/PRNewswire/ -- Target Therapeutics (Nasdaq:
TGET) today announced it has received final clearance from the Ministry of
Health and Welfare (MHW) in Japan to market the latest generation Guglielmi
Detachable Coil (GDC(R)) System in that country. The GDC System is designed for
minimally invasive treatment of patients with intracranial aneurysms that are
otherwise considered to be either inoperable or very high risk for surgery.
Gary R. Bang, Target's president and chief executive officer, said, "We
are pleased to receive final clearance to market the GDC System in Japan. The
MHW's action means that patients in Japan can now receive the benefits of this
innovative technology for minimally invasive treatment of stroke. The commercial
launch of the GDC in Japan will begin immediately, including a comprehensive
training program in conjunction with leading Japanese neurointerventionalists.
The GDC System is already approved in 29 countries around the world."
The GDC is a soft platinum alloy micro-coil that is delivered into the
aneurysm site by a Target Therapeutics Tracker micro-catheter in a controlled
manner. It is detached and released into the aneurysm by application of a very
low voltage electrical current. Once in place, the GDC coils fill the aneurysm,
isolating it from circulation and thereby reducing the likelihood of a rupture
or hemorrhagic stroke. Its use has reduced mortality and recurrence of bleeding
in stroke victims since its international launch in fiscal 1995.
Except for the historical information contained herein, the matters
discussed in this press release are forward looking statements, the accuracy of
which is necessarily subject to risks and uncertainties. Actual results may
differ significantly from results discussed in the forward looking statements.
Actual results may be affected by, among other things, risks and uncertainties
related to new product development cycles, research and development activities,
regulatory approvals of new products, introduction of competitive products by
others, third party reimbursement, physician training, and other factors set
forth from time to time in the Company's Securities and Exchange Commission
filings including the Company's Form 10-Q for the quarter ended December 31,
1996.
Founded in 1985, Target Therapeutics, Inc., develops, manufactures and
markets specialized disposable micro-catheters, guidewires, micro-coils,
silicone balloons, embolics, and angioplasty products. These therapeutic devices
are used in minimally-invasive procedures to reach disease sites throughout the
body via the circulatory system. The Company's products allow highly targeted
treatment of diseased, ruptured or blocked vessels of the brain responsible for
stroke, as well as other disease sites in the body that are accessible through
small vessels of the circulatory system.
SOURCE: Target Therapeutics Inc.
CONTACT: investors and analysts, Robert E. McNamara of Target Therapeutics,
510-440-7700; or media, Jonathan Greer of Edelman Public Relations,
415-433-5381, for Target Therapeutics.
