Shares in Cytori Therapeutics (NSDQ:CYTX) fell today after the biotech missed sales expectations on Wall Street with its second quarter results, but topped EPS estimates.
The San Diego, Calif.-based company posted a net loss of -$6 million on sales of $1.5 million for the 3 months ended June 30, for bottom-line growth of 6% on sales loss of -47% compared with the same period last year.
Adjusted to exclude 1-time items, earnings per share were -19¢, ahead of consensus on The Street. Analysts were looking for sales of $2.2 million.
“Based on ongoing analysis of our Star trial data and observed clinically meaningful improvements in the diffuse cutaneous subgroup, we intend to meet with the US FDA as soon as possible for a post-trial meeting to chart next steps. It is important that our Habeo product ultimately be made available for these patients,” president & CEO Dr. Marc Hedrick said in prepared remarks. “In addition, manufacturing validation for our ATI-0918 nanoparticle doxorubicin oncology product is on schedule for filing for EMA submission mid-next year and other key trials continue to enroll, ideally completing enrollment of both, Scleradec-II and Adresu by year end.”
CYTX shares were trading at 34¢ apiece today in mid-morning activity, down -3.1%.
In June, Cytori announced that the next-gen version of its Celution cell therapy device is available for pre-order and that the 1st shipments will start in the 3rd quarter of 2017.
The company’s Celution system automates the extraction and concentration of autologous, clinical-grade adipose-derived regenerative cells. The next-gen Celution tech includes new hardware and software to improve performance and maintain compliance with global medical device and cell therapy standards, Cytori said.
See the best minds in medtech live at DeviceTalks Boston on Oct. 2.