Company Update (NASDAQ:CYTX): Cytori Therapeutics Inc Provides Twelve Month Data Update on Scleradec-I Trial
Cytori Therapeutics Inc (NASDAQ:CYTX) announced today preliminary 12 month follow-up data from the 12 patient investigator initiated Scleradec-I clinical trial conducted by Prof. B. Granel and Prof. G. Magalon from the Assistance Publique des Hôpitaux de Marseille.
In the previously published six month follow-up data, Cytori’s ECCS-50 therapeutic showed:
- Improvement in Cochin Hand Function Scale (CHFS) from mean of 48.5 at baseline to 21.2 at six months
- Improvement in Hand Pain (Visual Analog Scale) from mean of 59.4 at baseline to 17.8 at six months
- Improvement in Raynaud’s Condition Score (RCS) from mean of 7.2 at baseline to 2.9 at six months
- Improvement in Scleroderma Health Assessment Questionnaire (SHAQ) score from mean of 1.4 at baseline to 0.8 at six months
The manuscript describing these data in detail can be viewed at http://ard.bmj.com/content/early/2014/08/10/annrheumdis-2014-205681.long.
A preliminary assessment for 12 month follow-up data has been reviewed by the Company which management believes reflects:
- No reports of adverse events or safety concerns
- Average values for CHFS, RCS, and SHAQ score are statistically consistent with those at the 6 month follow up visit
- While the average hand pain at 12 months was lower than that at baseline (reflecting overall symptom improvement over baseline), there was an approximately 50% reduction in the average therapeutic benefit on hand pain from six to twelve months
The investigators have prepared and submitted for publication a scientific manuscript based on final 12 month data. Once this manuscript has been accepted for publication and a publication date announced, Cytori will provide an update to investors. (Original Source)
Shares of Cytori closed last Friday at $1.24 . CYTX has a 1-year high of $2.63 and a 1-year low of $0.36. The stock’s 50-day moving average is $1.17 and it’s 200-day moving average is $0.66.
On the ratings front, Cytori has been the subject of a number of recent research reports. In a report issued on April 7, Maxim Group analyst Jason Kolbert reiterated a Buy rating on CYTX, with a price target of $7, which implies an upside of 464.5% from current levels. Separately, on April 6, Laidlaw’s Yale Jen reiterated a Buy rating on the stock and has a price target of $4.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason Kolbert and Yale Jen have a total average return of 11.7% and 48.0% respectively. Kolbert has a success rate of 48.8% and is ranked #233 out of 3574 analysts, while Jen has a success rate of 66.7% and is ranked #522.
Cytori Therapeutics Inc is engaged in the development of novel treatments for cardiovascular disease and soft tissue injuries and burns.