Cytori Therapeutics Inc (NASDAQ:CYTX) announced today that its licensee Kerastem Technologies, LLC, has expanded STYLE, its US phase II clinical trial investigating early stage female and male pattern hair loss. In this expansion, Kerastem has added new trial sites in New York and New Jersey to complement the currently enrolling sites in Los Angeles and Miami.
“Kerastem is dedicated to bringing Cytori technology to market for men and women with alopecia,” said Dr. Marc H. Hedrick, President & CEO of Cytori. “The Kerastem team has assembled an excellent clinical team. If this trial is successful, we believe the Kerastem/Cytori partnership could provide effective treatment for people dealing with hair loss and create a significant new revenue source for Cytori, creating value for our stockholders.”
STYLE is a phase II randomized, blinded, and controlled investigation of Kerastem therapy in early stage female and male pattern baldness. STYLE is approved to enroll up to 70 patients at up to eight (8) centers within the United States.
Outside of the United States, Kerastem is actively involved in market development, with Kerastem therapy currently being offered at a number of clinics in Europe & Japan. (Original Source)
Shares of Cytori Therapeutics closed yesterday at $0.15 . CYTX has a 1-year high of $1.47 and a 1-year low of $0.14. The stock’s 50-day moving average is $0.23 and its 200-day moving average is $0.35.
On the ratings front, Cytori has been the subject of a number of recent research reports. In a report issued on December 18, Maxim Group analyst Jason Kolbert reiterated a Buy rating on CYTX, with a price target of $5, which represents a potential upside of 3233.3% from where the stock is currently trading. Separately, on November 9, Roth Capital’s Joseph Pantginis maintained a Buy rating on the stock and has a price target of $2.50.
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 -21.5% and -12.9% respectively. Kolbert has a success rate of 24.0% and is ranked #3577 out of 3579 analysts, while Pantginis has a success rate of 31.7% and is ranked #3563.
Cytori Therapeutics Inc is engaged in the development of novel treatments for cardiovascular disease and soft tissue injuries and burns.