Cytori (CYTX) Stock Climbs On Big Achievement
Joshua Rodriguez | Feb 23, 2016 03:11AM ET
Cytori Therapeutics Inc (O:CYTX)
Cytori Therapeutics is having an incredible start in the market today, and for good reason. Data was released with regard to Cytori Cell Therapy. Today, we'll talk about the data that was released earlier, how the market reacted to the news, and what we can expect to see from CYTX moving forward. So, let's get right to it!
h3 CYTX Produces Strong Clinical Data/h3Cytori has been working for quite some time to show that its product, Cytori Cell Therapy (ECCS-50) is a good treatment for a condition known as scleroderma, a rare autoimmune disease. The disease is known for causing hardening of tissue from a buildup of fibrotic tissue in the fingers, skin, and other organs. Unfortunately, this leads to hand dysfunction in many patients. However according to the data that was released, CYTX has shown that Cytori Cell Therapy has achieved a sustained improvement in hand dysfunction at the two-year mark. Following the findings being announced on February 20th, 2016, CYTX held an investor conference today at 8:30 a.m. to further outline the positive information. In a statement, Dr. Guy Magalon, the presenter of the data, had the following to say:
“Hand dysfunction in scleroderma is both disabling and hard to treat... The standard treatments we rely on for these patients are often not effective or are poorly tolerated because of the side effects. The broad efficacy signals along with a very favorable safety profile makes ECCS-50 one of the more promising therapeutic options for these difficult to treat patients."
To follow up, Dr. Marc Hedrick, President and CEO at CYTX had the following to say:
h3 How The Market Reacted To The News/h3"The scientific findings of sustained symptomatic and functional improvement coupled with the direct patient feedback we have received from scleroderma patients treated apart from this trial leads us to be optimistic about the potential for ECCS-50 to help patients worldwide... The follow on approval trials, STAR and SCLERADEC II are enrolling, our EU compassionate use (or Managed Access) program has been launched and we remain on track to submit to the US FDA in mid-2017.”
As investors, we've learned that the news moves the market. Any time there is positive news released with regard to a publicly traded company, we can expect to see positive movement in the market as a result. So naturally, after the release of the positive data by CYTX, it only makes sense that the stock is climbing in a big way. Currently (9:52), CYTX is trading at $0.18 per share after a gain of 6.51% thus far today.
h3 What We Can Expect From Cytori Moving Forward/h3Moving forward, I have a relatively bullish opinion of what we can expect to see from CYTX. While Cytori is in the clinical stage as a company, the Cytori Cell Therapy (ECCS-50) is proving to be an incredibly positive treatment. All in all, as mentioned by the CEO, the company is on track for FDA submission in mid-2017, and based on the recent data it seems more and more likely that CYTX will receive FDA approval. All in all, things are looking great for the stock!
Get The News You Want
What Do You Think?
Where do you think CYTX is headed moving forward? Let us know your opinion in the comments below!
Original post
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.