Stereotaxis Announces Preliminary Third Quarter 2013 Financial Results in Preparation for Rights Offering

Stereotaxis Announces Preliminary Third Quarter 2013 Financial Results in
Preparation for Rights Offering

ST. LOUIS, Oct. 23, 2013 (GLOBE NEWSWIRE) -- Stereotaxis, Inc. (Nasdaq:STXS)
today released certain preliminary financial results for the 2013 third
quarter in anticipation of its previously announced rights offering of common
stock, which is expected to commence in the near future.

Third Quarter 2013 Preliminary Financial Results:

  *Total revenue of approximately $10.6 million to $11.1 million, with system
    revenue between $4.4 million and $4.6 million and recurring revenue of
    approximately $6.2 million to $6.5 million
  *One new Niobe® system order added to backlog with an estimated ending
    capital backlog of $5.2 million to $5.6 million
  *Utilization decline of about 11% from the prior year third quarter and 12%
    from the 2013 second quarter
  *Operating expenses of between $8.2 million and $8.6 million
  *Non-cash mark-to-market expense primarily related to recent capital
    transactions with convertible note holders and other equity investors of
    approximately $50 million
  *Cash and cash equivalents of approximately $8.4 million at September 30,
    2013 and an estimated quarterly cash burn of $1.0 million to $2.0 million

William Mills, Stereotaxis Board Chairman and Interim Chief Executive Officer,
commented, "On a sequential basis, we achieved system revenue improvement in
the third quarter, delivering three capital orders to revenue. We also
significantly improved our balance sheet through transactions announced in
August, which added approximately $11.7 million in new capital and
extinguished our convertible notes. In addition, we eliminated the $3 million
of available advances guaranteed by Alafi Capital Company and an affiliate of
Sanderling Venture Partners, paid down the remainder of our Silicon Valley
Bank term note, and secured an extension of our revolving credit facility with
Silicon Valley Bank through March 31, 2014.

"While we continued to be challenged to grow utilization, we believe our
release of the Vdrive™ with V-Sono™ system in the U.S. and full entry of the
Niobe® platform into the Japan market, which we announced today, provide us
with potentially significant growth opportunities."

The financial results in this release are preliminary and subject to change
pending the Company's announcement of definitive results for the third quarter
of 2013 and the filing of its Form 10-Q for the third quarter of 2013, which
are scheduled for release in November. The preliminary financial results
presented in this release are based solely upon information available to the
Company as of the date of this release, are not a comprehensive statement of
the Company's financial results or positions as of or for the three months
ended September 30, 2013, and are subject to change pending the Company's
announcement of definitive financial results.

About Stereotaxis

Stereotaxis is a healthcare technology and innovation leader in the
development of robotic cardiology instrument navigation systems designed to
enhance the treatment of arrhythmias and coronary disease, as well as
information management solutions for the interventional lab. With over 100
patents for use in a hospital's interventional surgical suite, Stereotaxis
helps physicians around the world provide unsurpassed patient care with
robotic precision and safety, improved lab efficiency and productivity, and
enhanced collaboration of life-saving information. Stereotaxis' core Epoch™
Solution includes the Niobe^® ES Remote Magnetic Navigation system, the
Odyssey^® portfolio of lab optimization, networking and patient information
management systems and the Vdrive^™ Robotic Mechanical Navigation system and

The core components of Stereotaxis systems have received regulatory clearance
in the U.S., Europe, Canada and elsewhere. The V-Sono^™ ICE catheter
manipulator has received U.S. clearance, and the V-Loop™ circular catheter
manipulator is currently in clinical trials in order to obtain clearance by
the U.S. Food and Drug Administration. For more information, please visit

This press release includes statements that may constitute "forward-looking"
statements, usually containing the words "believe," "estimate," "project,"
"expect" or similar expressions. Forward-looking statements inherently involve
risks and uncertainties that could cause actual results to differ materially
from the forward-looking statements. Factors that would cause or contribute to
such differences include, but are not limited to, the Company's ability to
raise additional capital or otherwise address ongoing liquidity challenges on
a timely basis and on terms that are acceptable, its ability to continue to
manage expenses and cash burn rate at sustainable levels, its ability to
continue to work with lenders to extend, repay or refinance indebtedness on
acceptable terms or at all, continued acceptance of the Company's products in
the marketplace, the effect of global economic conditions on the ability and
willingness of customers to purchase its systems and the timing of such
purchases, the outcome of various shareholder litigation filed against
Stereotaxis, competitive factors, changes resulting from the recently enacted
healthcare reform in the U.S., including changes in government reimbursement
procedures, dependence upon third-party vendors, timing of regulatory
approvals, and other risks discussed in the Company's periodic and other
filings with the Securities and Exchange Commission. By making these
forward-looking statements, the Company undertakes no obligation to update
these statements for revisions or changes after the date of this release.
There can be no assurance that the Company will recognize revenue related to
its purchase orders and other commitments in any particular period or at all
because some of these purchase orders and other commitments are subject to
contingencies that are outside of the Company's control. In addition, these
orders and commitments may be revised, modified, delayed or canceled, either
by their express terms, as a result of negotiations, or by overall project
changes or delays.

CONTACT: Company Contact:
         Marty Stammer
         Chief Financial Officer
         Investor Contact:
         Todd Kehrli / Jim Byers
         MKR Group, Inc.
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