Cytori Therapeutics Inc (NASDAQ:CYTX) shares advanced 35.92% to $3.33 on Tuesday after the company announced that it would present an update on their clinical trials during the 104th Annual Meeting of the Japan Society of Aesthetic Surgery in Tokyo, Japan.
Cytori Therapeutics Inc (NASDAQ:CYTX) shares retreated 3.90% to $3.20 in after-hours trading following the strong surge. The company is set to share updates regarding the French SCLERADEC I and II clinical trials investigating the use of Cytori Cell Therapy in the treatment of scleroderma-related hand dysfunction.
In particular, SCLERADEC-I principal investigator Professor Guy Magalon is set to make the presentation titled “New Strategy and Possibility for Using ADRCs for Treating Scleroderma” in the International Invited Lecture session this morning.
Cytori Therapeutics Inc (NASDAQ:CYTX) is a biotechnology company engaged in the development of treatments and devices for a range of disorders using cells as a key part of the therapy. It develops cellular therapeutics formulated and optimized for specific diseases and medical conditions and related products, focusing on developing its primary product, Cytori Cell Therapy, for patients with scleroderma hand dysfunction, orthopedic disorders, cardiovascular disease, urinary incontinence and thermal burns, including those complicated by radiation.
Scleroderma has been designated as an intractable disease in Japan, affecting an estimated 28,000 people. According to Professor Magalon, he open-label SCLERADEC I trial showed a sustained benefit over a two-year period using ADRC therapy prepared by Cytori’s Celution® System and the findings will be shared in his presentation.
A few days back, Cytori Therapeutics Inc (NASDAQ:CYTX) received a strong boost from the European Commission’s granting of orphan drug status to formulations used for the treatment of hand dysfunction and Raynaud’s Phenomenon in patients with scleroderma. This gave the company the ability to pursue multiple therapeutic formulations for systemic scleroderma that are not restricted to the processing of the adipose-derived cellular therapeutics at the bedside with the Celution® System or other current technology.
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