Increased BARDA Funding a Validation for Cytori (CYTX) ADRC Celution System, Maxim Group Says

Maxim Group analyst Jason Kolbert reiterated a Buy rating and $6 price target on Cytori Therapeutics, Inc. (NASDAQ: CYTX) after the company announced that BARDA has increased funding on the current contract to investigate Cytori's Adipose-Derived stem cells (ADRCs) for use in thermal burns by $2M.

"We see this as continued validation of the Cytori ADRC Celution System which recently was given the green light to seek approval based on a modestly powered (n=80) pivotal phase II/III study in scleroderma," Kolbert said. "In light of the scleroderma news, seeking approval in thermal burns could follow a similar, more rapid path."

For an analyst ratings summary and ratings history on Cytori Therapeutics, Inc. click here. For more ratings news on Cytori Therapeutics, Inc. click here.

Shares of Cytori Therapeutics, Inc. closed at $0.51 yesterday.

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