May 20, 2009 (FinancialWire) — Acusphere, Inc. (OTC: ACUS) (Current Market Cap: US$20.70 Mil.) reported it prepaid equipment loans with Oxford Finance Corp. and Massachusetts Development Finance Agency. These transactions, in combination with the company’s prepayment in full of General Electric Capital Corp. (NYSE: GE) debt, represent total debt reduction of $3.8 million, according to Acusphere.

After the prepayments, Acusphere has around $2.4 million in unaudited cash, which the company said should fund operations to the end of the third quarter of 2009 based on its current operating plan.

The company continues said to discuss its new drug application with the U.S. Food & Drug Administration for its lead product candidate, Imagify for injectible suspension, which is targeted for use in detecting coronary artery disease.

Tewksbury, Massachusetts-based Acusphere is a specialty pharmaceutical company that develops new drugs and formulations of existing drugs using its proprietary microsphere technology.

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