In a report released today, Jason McCarthy from Maxim Group maintained a Hold rating on Cytori Therapeutics Inc (CYTX). The company’s shares closed yesterday at $0.34, close to its 52-week low of $0.31.
McCarthy noted:
“Cytori reported 3Q18 with revenue of $1.3M (celution system, grants/ contracts) and operating expenses of $3.9M, net loss was ($2.3M). The company ended the period with $6.8M in cash excluding the $1M milestone payment from Bimini Technologies (private) in October. Cytori also has a $5M share purchase agreement in place. We estimate the company has runway into 1Q/2Q-19.”
According to TipRanks.com, McCarthy is ranked 0 out of 5 stars with an average return of -3.8% and a 29.5% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, ContraVir Pharmaceuticals Inc, and Sonoma Pharmaceuticals Inc.
Currently, the analyst consensus on Cytori Therapeutics Inc is a Moderate Buy with an average price target of $3.
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Based on Cytori Therapeutics Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $4.82 million. In comparison, last year the company had a GAAP net loss of $4.81 million.
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Cytori Therapeutics, Inc. is a late stage cell therapy company which engages in the development of autologous cell therapies from adipose tissue, using its proprietary technology, to treat a variety of medical conditions. It offers the Cytori Nanomedicine, Cytori Cell Therapy, and other clinical trials.
