Stock Update (NASDAQ:CYTX): Cytori Therapeutics Inc and Worthington Enter Celase® GMP Distribution Agreement to Facilitate Translational Research
Cytori Therapeutics Inc (NASDAQ:CYTX) announced the signing of a non-exclusive, 3 year distribution agreement with Worthington Biochemical Corporation for Celase® GMP enzyme for research markets in the U.S. and select international countries.
Celase® GMP is a proprietary enzyme containing a unique blend of collagenase, neutral protease and buffer salts that are produced using avian and mammalian tissue-free raw materials, aseptically processed, sterile filtered and highly purified under cGMP guidelines. Integrating Celase® GMP into cell isolation study protocols can facilitate a smooth transition from bench and animal research to downstream clinical applications.
“The addition of Cytori’s Celase® GMP product to Worthington’s Collagenase and STEMxyme® portfolio provides our customers with more options to support their unique research needs than ever before,” said Von Worthington, President and CEO at Worthington Biochemical Corporation. “We plan to offer Celase® GMP through Worthington’s catalog, direct sales force, distributor network and e-commerce website. Also, we intend to showcase the product at upcoming scientific meetings and trade shows.”
“We are very excited and pleased to initiate a partnership for Celase® GMP. The goal of the partnership is to facilitate translational research in regenerative medicine using Celase® GMP and potentially broaden the number of clinical applications for Cytori Cell Therapy,” said Russ Havranek, Director of Marketing at Cytori Therapeutics.(Original Source)
Shares of Cytori Therapeutics closed yesterday at $0.36, down $0.005 or -1.25%. 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 represents a potential upside of 594.4% from where the stock is currently trading. 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.