Cytori Therapeutics Inc (NASDAQ:CYTX) announced the finding of sustained benefit at two-year follow-up in the SCLERADEC-I trial of Cytori Cell Therapy (ECCS-50) in patients with hand dysfunction associated with scleroderma.
The SCLERADEC-I trial is an investigator-initiated, open-label, 12 patient trial, led by Dr. Brigitte Granel and Dr. Guy Magalonfrom the Assistance Publique des Hôpitaux de Marseille. A manuscript describing in detail the data from baseline to 12 months follow-up was recently published in the journal Rheumatology [http://rheumatology.oxfordjournals.org/content/early/2015/09/08/rheumatology.kev323.abstract].
The two-year follow up data in the SCLERADEC-I trial, demonstrated sustained improvement in four key endpoints: (1) Cochin Hand Function Score (CHFS), (2) Scleroderma Health Assessment Questionnaire, (3) Raynaud’s Condition Score (which assesses severity of Raynaud’s Phenomenon), and (4) hand pain, as assessed by a standard visual analogue scale.
“It is encouraging to see maintenance of the response in patients treated with Cytori Cell Therapy at a full two years after only a single administration,” said Steven Kesten, MD, Chief Medical Officer at Cytori. “We hope to validate the observations of sustained benefit in the ongoing phase III pivotal trial in the United States.”
Average values at the two-year timeframe for all four of these end points were statistically significantly improved over baseline and similar to improvements observed at one year. As with the previous studies, no safety issues related to Cytori Cell Therapy were reported. These data, along with other endpoints from the SCLERADEC-I trial, will be presented in detail by Dr. Magalon at the 4th Systemic Sclerosis World Congress to be held in Lisbon, Portugal in February, 2016. (Original Source)
Shares of Cytori Therapeutics closed yesterday at $0.359, down $0.005 or -1.35%. CYTX has a 1-year high of $1.47 and a 1-year low of $0.29. The stock’s 50-day moving average is $0.37 and its 200-day moving average is $0.46.
On the ratings front, Roth Capital analyst Joseph Pantginis maintained a Buy rating on CYTX, with a price target of $2.50, in a report issued on November 9. The current price target implies an upside of 594.4% from current levels. According to TipRanks.com, Pantginis has a total average return of -2.3%, a 38.6% success rate, and is ranked #3379 out of 3644 analysts.
Cytori Therapeutics Inc is engaged in the development of novel treatments for cardiovascular disease and soft tissue injuries and burns.