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TOPIC: CYTX Q-1 Results

CYTX Q-1 Results 14 May 2019 16:15 #12886

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As I had seen earlier in the month that Cytx results would come out on 5/14, such results were issued after the close - no real surprises - cash down to 3.9 million - apparently, no CC to follow the release - Hedrick indicated that the Company would begin communicating it's business plan later in Q-2. Underwhelming to say the least.

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CYTX Q-1 Results 14 May 2019 21:46 #12887

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Pathetic to say the least. 3.9 cash on hand with a quarterly burn of 3.2, they are down to one quarter. I see another RS, float and shorts knocking it back down again, same old, same old. The only thing that may help us is getting a decent price for BARDA to hold off a float at this ridiculous pps. Hedge said it best, classic business school example of mismanagement.
How do they justify the salaries they are getting by running this company down into the financial abyss?

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CYTX Q-1 Results 15 May 2019 07:46 #12888

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Thanks RS, hadn't noticed the release.
Well sales were lower again...marginally, about 4% YOY, but I guess one could say the sale news was in the air and that was the effect.
Of course they state the need for more cash but no indication as to how long current cash last. Cytori also took the "investors" tab off their web site...they really seem to be going into hiding with not info on website and no quarterly call. Guessing at the current burn rate going forward, I would say its now about 40% of previous cost....however, bringing a drug to market will incur new cost of a undetermined amount. Skimming the 10Q also didn't mention the removal of the $1.5 million Oxford has for a cash reserve...my guess is they have 5 month or so of cash available to them...time enough for the reverse split and another raise. ATM has $1.9 million available...so that may be one source but clearly not enough.
On b7's comment on justifying salaries...with 2/3's of the company sold I wonder if the BOD has the guts to try to reduce our bloated C-suite salaries. Maybe Fas can comment on this one but since the new CFO just signed, he would seem immune.
BARDA RELIEF trial hasn't started enrolling yet...contract for current phase extended to November 2020.
Basically, same story, different quarter...LOL

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CYTX Q-1 Results 15 May 2019 09:42 #12889

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I am replacing the filter system of my pond, so have little time for Cytori. From the 5 minutes I looked this morning-

In my view - nothing of the events- i.e. the Cell therapy asset sales seem to be in Q1 thats all in Q2. As Hedge noted the cash flow statement states that they raised 1,9 Mio in Q1 from the ATM so on top of the Q1 ending cash 4 Mio will be added in Q2 and debt reduced to roughly 10 Mio and no redemptions until mid next year. I do not know that this would require financing if they are close to a European deal on ATI-0918, but a reverse split looks very likely. I could live with that.

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

CYTX Q-1 Results 15 May 2019 16:08 #12891

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Well, they will only get between $5 and $10 million upfront in a partnership and from the progress reported to date, my guestimate of how long cash will last and also what I believe a potential partner will want to see as far as progress, the timing of no raise seems very tight to me. I guess we will see. What ever the outcome, Cytori has a large percentage favor of screwing it up
I'll stay in the raise before a ATI-0918 partnership camp. Now, does that raise mean BARDA goes bye-bye...I don't know. I also don't know why someone would want to buy the BARDA contract.

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CYTX Q-1 Results 16 May 2019 04:58 #12892

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It makes no sense to me as to why the US Govt. would even want to continue the BARDA contract with CYTX - the Company is essentially out of the stem cell business - the BARDA contract must be either sold or partnered imo!

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CYTX Q-1 Results 16 May 2019 08:58 #12893

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That is probably correct.

In the past we all have heard about preparedness for a nuclear event and surely that ties up quite strongly to the military defense organizations, who are in need of small portable equipment - as I have read quite a few things about in the past. The CTX-2 would have fit that bill, but in view of its un-announced departure, which is typical Cytori-like, the upgraded Celution is probably only usable in burn centres and not in the field.

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

CYTX Q-1 Results 17 May 2019 12:53 #12894

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Fas, because there was no CC for Q-1 together with Hedrick's reference to info later in Q-2 re the business plan, my feeling is that something is definitely in the works - trying to be optimistic, my best guess would be a partnership that would avoid another raise - avoiding another RS is too much to hope for at this point - any thoughts?

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CYTX Q-1 Results 19 May 2019 02:17 #12895

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Rodney- no thoughts really. After the shock of the April 1 announcement, I basically have not spent much time on Cytori´s future. I even did not read the transcript of the call until yesterday, to get an impression of the time lines of development going forward.

If I understood correctly they are planning market entry in Europe late 2020 now. To me it is doubtful that they will find a partner way ahead of that time to provide some upfront cash to bridge that time frame. But you never know. The best thing is to wait until they communicate that business plan in Q2. I presume that will coincide with the annual SH meeting on May 28th.

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

CYTX Q-1 Results 19 May 2019 23:05 #12896

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So Fas and others, if I read the board correctly and looking at 8K, they seem to have cash to make it up to Q4 or into Q4 depending on whether they have to maintain min for Oxford. Question is whether they can get some money to transfer BARDA grant or upfront milestone-driven partnership money which would take them into Q1 2020 with little dilution. Am also wondering if they do RS right after SM meeting, then announce news on low float to drive stock up. Otherwise don't see why they can't wait tlll early Q3 to do RS based on new strategy discussion. Of course it's Cytori.

would be interested in board thoughts?thanks

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CYTX Q-1 Results 21 May 2019 14:10 #12897

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SH
I do not think you take chances on a Nasdaq listing- that is worth quite some money. So- unless they have a sure mega boost of PPS, which to me is very doubtful - they have to do a RS well ahead of time and due date. And due date is August 26th if I recall right.

We can speculate as much as we want, but you are right money- I think will last until year-end- I never assumed the KK broke-even. Just S&M costs was covered most of the time and now with 12 employees less, I expect quarterly cash burn at 2 Mio max. 2.5 Mio. Raising money will probably be necessary sometime, but not anytime soon, is my hope/view.
The following user(s) said Thank You: SH

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

CYTX Q-1 Results 21 May 2019 23:41 #12898

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Makes sense Fas. Stability data around October I imagine. For me that data is so important because I work with small molecules. I know hedge says 3rd in line etc but this San Antonio site is making registration batches so let's see. Thanks for post

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CYTX Q-1 Results 22 May 2019 03:58 #12899

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Just to add that I do not see any reason why the Riley ATM should not be available any longer and lets also not forget the Lincoln Park deal, which might come in play when PPS increases again. So these would be certainly preferred choices before any rights- or public offering at this stage of the game.

On BARDA- cell therapy in general. Checked around at LinkedIn yesterday and for me - John Fraser, Min Zhu and Philippe Foubert were the scientists who I believe added most value to Cytori. Philippe works in LA now, but Min and John are still around- for BARDA only? Somehow I do not think so.

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

CYTX Q-1 Results 22 May 2019 23:27 #12900

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Fas, was intrigued by your mention of the key scientists still a part of Cytori. I recently saw mention on cytori site about using liposomes it seems to deliver molecules to inflamed tissue which they claim could be leaky. I was intrigued and suspect maybe exosomes as others have mentioned. it's quite hot but super early as a technology. who knows maybe cytori does have aspirations long-term in this arena.

glad to hear your point about other options for funding. don't want to get burned again by a rights offering.
the fun starts on Tuesday at SB meeting,
thank you!

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