Orthovita, Inc. (VITA)

[surf1944]

7:32AM Orthovita reports Q1 product sales increased 11% y/y (VITA) 4.66 : Co announced that product sales for the first quarter of 2010 were $24.1 mln, an 11% increase over product sales of $21.7 mln in the first quarter of 2009. Product sales for the quarter ended March 31, 2010 included $1.1 mln from the sale of Vitomatrix, a bone graft material used in dental products, and $900,000 from U.S. sales of Cortoss, the co's novel synthetic biomaterial that was cleared by the FDA in June 2009 for the treatment of vertebral compression fractures, and Aliquot, the Company's Cortoss delivery device. There were no Vitomatrix or U.S. Cortoss sales in the first quarter of 2009. The $1.1 mln in Vitomatrix sales occurred in March 2010 as part of an agreement to terminate our supply agreement for this product.