Palomar Medical Technologies Inc. (NSDQ:PMTI) delayed the launch of its home-use peri-orbital wrinkle treatment laser until the spring of 2011, according to a Securities & Exchange Commission filing.
The Burlington, Mass.-based cosmetic laser developer said the date change is "related to the use of lotion with the laser."
"[W]e will take advantage of the additional time to further prepare our marketing, public relations, and communication plans in support of the spring launch," CEO Joseph Caruso said in prepared remarks.
The delay is not good news for Palomar, which saw its second quarter losses increase 600 percent due to heavy spending in G&A and R&D expenditures, although revenue growth was steady.
According to Palomar, its home-use peri-orbital wrinkle laser is the first such treatment device to receive Food & Drug Administration 510(k) clearance for over-the-counter sales.