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TOPIC: Results and 1 to 15 split - fui gak

Results and 1 to 15 split - fui gak 10 May 2016 15:31 #6934

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May 10, 2016
SAN DIEGO--(BUSINESS WIRE)-- Cytori Therapeutics (NASDAQ: CYTX) (“Cytori” or the “Company”) today announced its first quarter financial results and provided updates on its corporate activity and clinical development.
First quarter 2016 net loss allocable to common stockholders was $5.3 million and $0.03 per share (or $0.41 per share after the effect of a 1:15 reverse stock split announced on May 10, 2016). Cytori continues to manage its operating cash burn, spending approximately $5.1 million in the first quarter 2016. Cytori ended the first quarter of 2016 with $9.4 million of cash and cash equivalents.
“The business fundamentals continue to strengthen,” said Dr. Marc H. Hedrick, President and CEO of Cytori Therapeutics. “The US trial enrollment for our lead indication is nearly complete, we see positive trends on revenue and we continue see new opportunities for our technology that are in alignment with the Company’s core strategic direction.”
Select Recent Highlights:
Investigator presentation of SCLERADEC I 24-month follow-up data reported sustained benefit for scleroderma hand dysfunction
Broad orphan drug designation and small or medium-size enterprise (SME) status granted by European Medicines Agency
Launch of compassionate use program for scleroderma in Europe in partnership with Idis Managed Access
Announcement of STAR enrollment progress consistent with development timelines
Q1 2016 Financial Performance
Q1 2016 operating cash burn of $5.1 million, compared to $5.0 million for the same period in 2015.
Cash and debt principal balances at March 31, 2016 of approximately $9.4 million and $17.7 million, respectively.
Q1 2016 total revenues of $2.9 million, compared to $2.3 million for the same period in 2015.
Q1 2016 net loss of $5.3 million or $0.41 per share, compared to $6.5 million, which excludes a non-cash charge of $15.4 million related to the change in fair value of warrant liabilities and a beneficial conversion feature charge for convertible preferred stock of $0.7 million, or $0.92 per share for the same period in 2015.
“Q1 2016 net loss was approximately 20% lower than Q1 2015, despite an expansion of our investments in research and development,” said Tiago Girao, VP of Finance and CFO of Cytori Therapeutics. “For the remainder of 2016, we plan to continue to narrow our quarterly losses and decrease the need for capital through a number of initiatives. These efforts consist largely of balancing further improvements in operational efficiency, working capital management, increased revenue, and an intense focus on those activities that we believe will contribute to stockholder value creation.”
Anticipated Near Term Catalysts:
Complete enrollment of US STAR phase III trial (anticipated by mid-June 2016) for scleroderma hand dysfunction
Report of 48-week US pilot/phase IIb ACT-OA trial (94 patients) with data analysis in Q3 2016
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 Reiterated 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: 3175608.
About Cytori
Cytori Therapeutics is a late stage cell therapy company developing autologous cell therapies from adipose tissue to treat a variety of medical conditions. Data from preclinical studies and clinical trials suggest that Cytori Cell Therapy™ acts principally by improving blood flow, modulating the immune system, and facilitating wound repair. As a result, Cytori Cell Therapy™ may provide benefits across multiple disease states and can be made available to the physician and patient at the point-of-care through Cytori’s proprietary technologies and products. For more information: visit www.cytori.com .
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking statements that involve known and unknown risks and uncertainties. All statements, other than historical facts are forward looking statements. Such statements are subject to risks and uncertainties that could cause our actual results and financial position to differ materially. Some of these risks include clinical, pre-clinical and regulatory uncertainties, such as those associated with the ACT-OA, STAR, SCLERADEC-I, SCLERADEC-II and possible BARDA wound trial (including risks in the collection and results of clinical data and final clinical outcomes), as well as achievement of financial goals (including 2016 operating cash burn and 2016 total revenues, as well as anticipated narrowing of quarterly losses and reduced need for capital), dependence on third party performance (including performance of investigator-initiated trials), performance and acceptance of our products in the marketplace, unexpected costs and expenses that could adversely impact liquidity, our reliance on key personnel, the right of the Federal Government to cut or terminate further support of the thermal burn injury program (including any decision not to proceed with a wound trial in 2016), our abilities to capitalize on our internal restructuring and achieve profitability, and other risks and uncertainties described under the "Risk Factors" in Cytori's Securities and Exchange Commission Filings, included in our annual and quarterly reports.
There may be events in the future that we are unable to predict, or over which we have no control, and our business, financial condition, results of operations and prospects may change in the future. We assume no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made unless we have an obligation under U.S. Federal securities laws to do 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:

Results and 1 to 15 split - fui gak 10 May 2016 15:50 #6935

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Looks like loss was inline with revenues slightly better than expected.

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Results and 1 to 15 split - fui gak 11 May 2016 07:29 #6944

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No complaints about the product revenues. One star for John Harris. No stars for Jeremy Hayden (no partnerships to save the day).

The current portions of long-term obligations and JV purchase obligations totals $2,991,000. Cash was $9,358,000 six weeks ago. Burn rate probably around $4,000,000 this quarter (down from the 1st quarter's heavy cash bonus payments). Hedrick forgot to mention the capital raise as a first half or second half milestone event.

The BOD authorized 75 million in post split shares (1,125,000,000 in pre-split shares). That leaves 61 million shares available for further dilution. The official company statement is: we need to raise $11 million to get us to the press release of the STAR data next August. I don't believe this to be accurate. Raising money is next on the agenda.

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Results and 1 to 15 split - fui gak 11 May 2016 08:10 #6946

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DOV, it looks like you are really happy, in view of the conversion of your pre-split 300,000 shares into 20,000 new shares. Roth is always unhappy with r/s.

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Results and 1 to 15 split - fui gak 12 May 2016 07:27 #6966

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way worse than that

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