Cytori Therapeutics, Inc
Cytori Reports First Quarter Financial Results
Cytori Therapeutics, Inc. / Quarter Results Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Cytori Therapeutics (NASDAQ: CYTX; Frankfurt: XMPA) reports financial results for the quarter ended March 31, 2007. Cash, cash equivalents and short term investments were $24.5 million as of March 31, 2007. Subsequent to the end of the quarter, Cytori received $6.0 million from the sale of 1.0 million shares from a strategic equity agreement with Green Hospital Supply, Inc. Research and development expenses for the quarter ended March 31, 2007 were $5.0 million compared to $5.2 million in the same period in 2006. The slight decline in research and development for the first quarter is attributable to lower costs associated with preclinical studies and regulatory activities, which were offset by clinical trial-related and internal scale-up manufacturing expenses. General and administrative expenses for the quarters ended March 31, 2007 and 2006 were $3.2 million. Net loss for the quarter ended March 31, 2007 was $8.7 million, or $(0.43) per common share, compared to a net loss of $7.5 million, or $(0.48) per common share for the same period in 2006. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: 'In the first quarter we continued to execute on our clinical development strategy by initiating our chronic ischemia trial and making preparations to start our heart attack and breast reconstruction trials,' said Christopher J. Calhoun, Chief Executive Officer for Cytori. 'To support our 2008 product launch in Europe for reconstructive surgery, we started building out our Celution™ System commercialization and manufacturing infrastructure, which included the implementation and testing of our production capabilities and the signing of a key distributor relationship for Italy, Spain and Portugal.' Cytori Therapeutics Cytori Therapeutics is developing and seeks to commercialize stem and regenerative cell therapies for cardiovascular disease, reconstructive surgery and many other serious, chronic, and life threatening conditions. To provide these therapies, physicians remove a small amount of a patient's fat, also known as adipose tissue, and run it through Cytori's Celution™ System. This System quickly separates and concentrates stem and regenerative cells from adipose tissue so they may be quickly administered back to the patient about an hour later. This system will dramatically improve the way in which personalized cell-based therapies can be delivered to patients. www.cytoritx.com Cautionary Statement Regarding Forward-Looking Statements This press release includes forward-looking statements regarding events, trends and prospects of our business, which may affect our future operating results and financial position. Such statements are subject to risks and uncertainties that could cause our actual results and financial position to differ materially. Some of these risks and uncertainties include our history of operating losses, the need for further financing, regulatory uncertainties, dependence on performance of third parties, and other risks and uncertainties described (under the heading 'Risk Factors') in Cytori Therapeutics' Form 10-K annual report for the year ended December 31, 2006. We assume no responsibility to update or revise any forward-looking statements to reflect events, trends or circumstances after the date they are made. DGAP 11.05.2007 ---------------------------------------------------------------------- Language: English Issuer: Cytori Therapeutics, Inc. 6740 Top Gun Street 92121 San Diego, CA Vereinigte Staaten von Amerika Phone: 001-858 / 736 5485 Fax: 001-858 / 458 0994 E-mail: sbacher@cytoritx.com www: www.cytoritx.com ISIN: US23283K1051 WKN: A0ETV6 Indices: PRIMEALL, TECHALLSHARE Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Stuttgart, München, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
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