UPDATE: Nephros Announces Preliminary Financial Results for Third Quarter 2018

Source:  Nephros, Inc.-October 1, 2018

Anticipates 102% Year-over-Year Product Revenue Growth;
Reiterates $6 Million 2018 Revenue Target

Nephros, Inc. (OTCQB: NEPH), a commercial stage medical device company that develops and sells high performance liquid purification ultrafilters, today announced preliminary financial results for the third quarter of 2018.

Nephros expects product revenue for the quarter to be approximately $1.7 million,which represents a 102% increase over the same period in 2017.

“There has been a dramatic increase in the awareness of water safety over the last few years,” said Daron Evans, President and Chief Executive Officer. “Our focus on consultation and rapid responsiveness enables our customers to achieve measurable performance improvement from our products. Our continued revenue growth is a result of our expanded product line based on customer feedback as well as a multi-year campaign of education and customer support.”

“In our upcoming 10-Q filing, we intend to report results from our water filtration business both separately and consolidated with our Specialty Renal Products (SRP) subsidiary,” said Andy Astor, Chief Financial Officer. “This will provide our shareholders with greater transparency for each respective business unit, including the company’s progress towards profitability in the water filtration business.”

Nephros ended the quarter with approximately $5.2 million in cash on a consolidated basis.

About Nephros, Inc.

Nephros is a commercial stage medical device company that develops and sells high performance liquid purification filters, known as ultrafilters. Nephros ultrafilters are primarily used in hospitals and medical clinics for added protection in retaining bacteria (e.g., Legionella, Pseudomonas), viruses, and endotoxins from water. They provide barriers that assist in improving infection control in showers, sinks, and ice machines. Additionally, Nephros ultrafilters are used by dialysis centers for assisting in the added removal of biological contaminants from the water and bicarbonate concentrate supplied to hemodialysis machines and the patients.

For more information about Nephros, please visit the company’s website at www.nephros.com. 

About Specialty Renal Products, Inc. 

Specialty Renal Products, a subsidiary of Nephros, is focused on the development of medical device products for patients with renal disease, including a hemodiafiltration system for the treatment of patients with ESRD.