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CYTX Financial performance development
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TOPIC: Q4 & Full Year Results

Q4 & Full Year Results 03 Mar 2016 15:41 #6536

  • mtpinman
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Not what I expected... :whistle:

03/03/2016
SAN DIEGO--(BUSINESS WIRE)-- Cytori Therapeutics (NASDAQ: CYTX) (Cytori or the “Company”) today announced its fourth quarter and year-end 2015 financial results and provided updates on its corporate activity and clinical development.

Fourth quarter 2015 net loss allocable to common stockholders was $2.8 million, or a net loss of $5.4 million and $0.03 per share when excluding a non-cash charge of $2.7 million related to the change in fair value of warrant liabilities. Cytori continued to reduce its operating cash burn, spending approximately $4.5 million in the fourth quarter 2015. Cytori ended 2015 with $14.3 million of cash and cash equivalents.

Full year 2015 net loss allocable to common stockholders was $19.4 million, or a net loss of $26.4 million and $0.19 per share when excluding two non-cash charges - a $7.7 million gain related to the change in fair value of warrant liabilities and a $0.7 million charge related to the beneficial conversion feature for convertible preferred stock. Full year 2015 operating cash burn was $20.5 million, compared to $30.3 million in 2014.

“In 2015, the corporate repositioning that began in 2014 is largely completed and we are now enrolling two Phase III studies in scleroderma in the US and Europe, implementing a European patient access program for scleroderma, supporting an approval trial in Japan for SUI, and completing patient follow up for a mid-stage US OA trial,” said Dr. Marc H. Hedrick, President and CEO of Cytori Therapeutics. “The challenge for us in 2016 is to continue to build upon the operational and financial performance achieved over this past year and successfully meet or exceed our key milestones this year.”

Select Recent Highlights:

Presentation of 24 month follow-up data showing sustained benefit of results in investigator-initiated pilot/phase I/II trial for scleroderma hand dysfunction
Updated on enrollment status of U.S. pivotal/phase III trial for scleroderma (STAR trial), which is on track to complete around mid-2016
Completed and reported interim top-line 6 month data on knee osteoarthritis trial
Initiation of enrollment in a phase II investigator initiated trial for fistula from Crohn’s disease
Publication of investigator-initiated phase I erectile dysfunction trial data in Journal EBioMedicine
Q4 and Year End 2015 Financial Performance

Q4 and full-year 2015 operating cash burn of $4.5 million and $20.5 million, compared to $4.9 million and $30.3 million for the same periods in 2014, respectively.
Cash and debt principal balances at December 31, 2015 of approximately $14.3 million and $17.7 million, respectively.
Q4 and full-year 2015 total revenues of $3.4 million and $11.7 million, compared to $3.8 million and $7.6 million for the same periods in 2014, respectively.
Q4 and full-year contribution (profit/loss) from our sales and marketing organization, excluding share based compensation, of a profit of $0.2 million and a loss of $0.8 million, compared to a profit of $0.1 million and a loss of $3.8 million for the same periods in 2014, respectively.
Q4 net loss, when excluding non-cash charges related to the change in fair value of warrant liabilities and beneficial conversion feature for convertible preferred stock, was $5.4 million or $0.03 per share, compared to $6 million or $0.07 per share for the same period in 2014, respectively.
Full-year net loss, when excluding non-cash charges related to the change in fair value of warrant liabilities and beneficial conversion feature for convertible preferred stock, was $26.4 million or $0.19 per share, compared to $37.7 million and $0.47 per share for the same period in 2014, respectively.
“We succeeded in meeting our internal key financial and operating metrics in 2015. This includes a reduction in our overall cash burn by over 30% while expanding our investment in research and development activities,” said Tiago Girao, VP of Finance and CFO of Cytori Therapeutics. “In 2016, we plan to continue to narrow our losses, balancing ongoing capital requirements through a number of targeted activities that include further ‘across-the-board’ operational efficiency measures, tighter working capital management, increased revenue, and an intense focus on only those activities that we believe will maximize stockholder value creation.”

Upcoming Near Term Catalysts:

Report of 48-week US pilot/phase IIb ACT-OA trial (94 patients) with data analysis in Q3 2016
Complete enrollment of US STAR phase III trial (anticipated mid 2016) for scleroderma hand dysfunction
Complete enrollment of investigator-initiated EU phase III SCLERADEC-II trial (anticipated in 2016) for scleroderma hand dysfunction
File IDE and obtain approval for burn wound therapy trial related to contract with BARDA (anticipated in 2016)
2016 Financial Guidance

Operating cash burn within a range of $18 million to $20 million
Total revenues (product and contract) within a range of $12 million to $14 million
Management Conference Call Webcast

Cytori will host a management conference call at 5:30 p.m. Eastern Time today to further discuss the Company’s progress. The webcast will be available live and by replay two hours after the call and may be accessed under “Webcasts” in the Investor Relations section of Cytori’s website. If you are unable to access the webcast, you may dial in to the call at +1.877.402.3914, Conference ID: 32453785.

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Q4 & Full Year Results 03 Mar 2016 17:27 #6543

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above attributed to my ID is not my post!

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Q4 & Full Year Results 03 Mar 2016 18:09 #6545

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Marc Hedrick is so painful to listen to that it's frightening to think I have money in this company with him as leadership. He sounds like an unprepared adolescent trying to forge his way through his first job interview.

Not intended as an insult but rather as a critique of a team that clearly does not have positions aligned correctly. Another frightening fact is that Marc himself doesn't realize his strengths and weaknesses -- he should want relief from the pain he is obviously in while conducting these calls, other meetings, pitches to investors, etc. He didn't even know his deadline is May 31, not March 31, for the Nasdaq listing. Like an unprepared job applicant, he sounds like a stuttering fool.

Frightening indeed that this person has been given a CEO position. You could show me profit tomorrow and I still wouldn't be comfortable with him as a CEO.

Additionally, the CFO said he'd get back to the Lorem discussion. He never did.

Thank you Mr. Harris for providing the slightest hint of someone who belongs in an upper management position.

And yes, these things do matter.

Bad impression all around and I think my sentiments are easily sensed by other potential investors. My money will remain because I'd rather bleed this out but my interest and expectations are gone.

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Q4 & Full Year Results 03 Mar 2016 21:13 #6550

  • myownhedgefund
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angryharry

Hedrick is actually much better...LOL :grin: :KO: :cool:

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Q4 & Full Year Results 04 Mar 2016 00:59 #6551

  • fas
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mtpinman wrote: above attributed to my ID is not my post!


Correct- that was me. I had myself logged into the Lodge (so I believe) and I was watching an episode of "Games of Thrones" with Thunderbird on which notifies when mails are incoming. Obviously I was waiting for the results and intended to post straight away, after having a glimpse at the report.

The result was that I posted the Cytori results without looking with mtpinman´s ID. I have heard of this issue i.e. that it can happen, but do not know if it is a Joomla issue or a browser problem. Will digg into it. My guess it is an issue where sessions interfere with each other and browser storage of user/password information.

You can always avoid this by keeping this manual (log-in I mean), but you might make mistakes and can be banned for an hour if you do so three times (repeat log-in mistakes). I will get back on this.

On a personal note- I was dog tired yesterday and went straight to bed- will start listening to the CC soon. :yep:

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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:
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