Cytori Therapeutics Inc (NASDAQ:CYTX) announced that its licensee Kerastem Technologies, LLC, has completed enrollment of STYLE, a US phase II clinical trial investigating early stage female and male pattern hair loss.
“Cytori Cell Therapy is a broadly applicable cell therapeutic platform used now in multiple mid and late stage clinical trials in the US, Japan and Europe. Our partner Kerastem is focused on developing Cytori technology for men and women with alopecia,” said Dr. Marc H. Hedrick, President & CEO of Cytori. “Early proof of concept clinical data has shown promise and Kerastem expects a read out from the trial in approximately one year. This therapy if approved could create a significant 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. A total of four clinical trial sites treated a target enrollment of 70 patients in the United States. The primary endpoint of STYLE is safety and tolerability at six months and subjects will be followed for 12 months. Subjects participating in STYLE received one of four treatment arms, including fat plus ADRCs.
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 closed last Friday at $2.12, up $0.03 or 1.44%. CYTX has a 1-year high of $6.45 and a 1-year low of $1.81. The stock’s 50-day moving average is $2.09 and its 200-day moving average is $2.67.
On the ratings front, CYTX stock has been the subject of a number of recent research reports. In a report issued on September 12, Maxim analyst Jason Kolbert reiterated a Buy rating on CYTX, with a price target of $5.00, which represents a potential upside of 136% from where the stock is currently trading. Separately, on June 27, Roth Capital’s Joseph Pantginis maintained a Buy rating on the stock and has a price target of $11.00.
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 -15.7% and 8.4% respectively. Kolbert has a success rate of 31% and is ranked #4080 out of 4183 analysts, while Pantginis has a success rate of 39% and is ranked #291.
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.