Cytori Therapeutics Inc (NASDAQ:CYTX) announced that on May 18, 2016, an update regarding the French SCLERADEC I and II clinical trials investigating the use of Cytori Cell Therapy in the treatment of scleroderma-related hand dysfunction will be delivered at the 104th Annual Meeting of the Japan Society of Aesthetic Surgery in Tokyo, Japan.
Professor Guy Magalon, the SCLERADEC-I principal investigator, is scheduled to present, “New Strategy and Possibility for Using ADRCs for Treating Scleroderma,” in the International Invited Lecture session on May 18th at the ANA Intercontinental Tokyo in Room A from 10:45 to 11:45 am.
Scleroderma has been designated as an intractable disease in Japan, estimated to affect 27,800 people.† A study from Japan in 1991 shows that a high number of these patients have hand symptoms. Specifically, 98% exhibit Sclerodactyly (thickening and tightness of the skin in fingers, often leading to ulceration of the fingers) and 95% exhibit Raynaud’s Phenomenon.‡ Pre-clinical and clinical studies suggest that adipose-derived regenerative cells, or ADRCs, may promote angiogenesis, modulate inflammation and reduce/remodel fibrosis. In addition, Dr. Magalon reported that the open-label SCLERADEC I trial showed a sustained benefit over a two-year period using ADRC therapy prepared by Cytori’s Celution® System. Dr. Magalon will detail those findings in Japan at this presentation.
“Hand involvement is common in scleroderma and few effective medical options exist,” said John Harris, Vice President and General Manager, Cell Therapy. “We are very grateful that Dr. Magalon is here in Japan highlighting the results of this seminal work. The timing coincides nicely with our development and partnering plans here in Japan that have the goal of bringing Cytori’s novel ECCS-50 therapy for hand scleroderma to the market.”
Cytori’s U.S. FDA approved Phase III STAR trial is currently enrolling and thus far, is 75% of the way toward complete enrollment. The trial is scheduled to complete enrollment by mid-June, which is ahead of original schedule. The STAR trial follows the French SCLERADEC-I pilot trial, led by Drs. Magalon and Granel, which was performed at the Assistance Publique Hôpitaux de Marseille. One year post-treatment results were published in the August 2015 edition of the journal Rheumatology. Data recently presented at the Systemic Sclerosis World Congress indicated that a single administration of ECCS-50 therapy could be performed safely and that treated patients exhibited significant improvements in hand symptoms, function and Raynaud’s Phenomena through 2 years following treatment. (Original Source)
Shares of Cytori Therapeutics closed yesterday at $2.45, down $0.21 or -7.89%. CYTX has a 1-year high of $11.25 and a 1-year low of $1.92. The stock’s 50-day moving average is $3.83 and its 200-day moving average is $3.60.
On the ratings front, Cytori has been the subject of a number of recent research reports. In a report issued on March 28, Maxim Group analyst Jason Kolbert reiterated a Buy rating on CYTX, with a price target of $75, which implies an upside of 2961.2% from current levels. Separately, on March 24, Roth Capital’s Joseph Pantginis maintained a Buy rating on the stock and has a price target of $22.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason Kolbert and Joseph Pantginis have a total average return of -15.8% and -4.4% respectively. Kolbert has a success rate of 28.0% and is ranked #3831 out of 3833 analysts, while Pantginis has a success rate of 35.0% and is ranked #3712.
Cytori Therapeutics, Inc. is a late stage cell therapy company. Its develops autologous cell therapies from adipose tissue, using its proprietary technology, to treat a variety of medical conditions. Data from preclinical studies and clinical trials suggest that Cytori Cell Therapyâ¢ acts principally by improving blood flow, modulating the immune system, and facilitating wound repair.