Cytori Therapeutics Inc (NASDAQ:CYTX) announced that Mr. Jeremy Hayden has been appointed as General Counsel and VP of Business Development. In addition to extensive legal experience in the life sciences industry, Mr. Hayden also has specific expertise in business development, with a lead role in structuring and negotiation of equity and debt financings, mergers and acquisitions, partnerships and collaborations, and inbound and outbound licensing arrangements.
“Jeremy possesses a deep and broad knowledge of the life sciences including both the pharmaceuticals and medical device sectors,” said Dr. Marc Hedrick, President and Chief Executive Officer of Cytori. “This knowledge, combined with his extensive industry deal experience and his experience with FDA and other regulatory bodies will be a valuable resource as we move forward with our product development and commercial expansion on a worldwide basis.”
“Cytori has very unique technology and a remarkable therapeutic pipeline that is weighted toward later stage clinical trials,” said Mr. Hayden. “Besides supporting the governance and compliance functions of the company, I believe I can contribute immediately to the achievement of the business development goals of the Company. Partnering was an important part of our strategy at my previous company and I feel I can bring some of that knowledge and expertise to Cytori.”
Mr. Hayden joins Cytori from Volcano Corporation, where he served as Assistant General Counsel and, among other responsibilities, served as legal business partner to Volcano’s business units and supported Volcano’s SEC and M&A activities, including Volcano’s merger with Royal Philips. Prior to his tenure at Volcano, Mr. Hayden was counsel at several legal firms, including McKenna Long & Aldridge, LLP and Mintz Levin Cohn Ferris Glovsky & Popeo, P.C., during which he advised public and private clients on a broad variety of transactions, including strategic growth, equity and debt investments and acquisitions.
Mr. Hayden earned his J.D. from the University of Michigan Law School and an A.B. in politics from Princeton University. (Original Source)
Shares of Cytori Therapeutics closed yesterday at $0.44. CYTX has a 1-year high of $2.21 and a 1-year low of $0.36. The stock’s 50-day moving average is $0.55 and its 200-day moving average is $0.77.
On the ratings front, Cytori Therapeutics has been the subject of a number of recent research reports. In a report issued on June 15, Roth Capital analyst Joseph Pantginis maintained a Buy rating on CYTX, with a price target of $6, which represents a potential upside of 1263.6% from where the stock is currently trading. Separately, on the same day, Maxim Group’s Jason Kolbert reiterated a Buy rating on the stock and has a price target of $7.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joseph Pantginis and Jason Kolbert have a total average return of 5.7% and -4.8% respectively. Pantginis has a success rate of 47.1% and is ranked #520 out of 3718 analysts, while Kolbert has a success rate of 34.6% and is ranked #3646.
Cytori Therapeutics Inc is engaged in the development of novel treatments for cardiovascular disease and soft tissue injuries and burns.