Cytori Therapeutics (NASDAQ: CYTX) today reports its second quarter 2013 financial results and provides updates on clinical development and commercialization activities.
Total revenue for the six months and quarter ended June 30, 2013 were $6.0 million and $2.3 million, respectively. Net loss for the six months and quarter ended June 30, 2013 were $10.9 million and $3.2 million, respectively.
Cytori’s year-to-date accomplishments include the following:
- Received FDA approval to expand the ATHENA trial of Cytori’s cell therapy for chronic ischemic heart failure
- Completed first BARDA objective; substantial progress toward the second objective; final objective underway and is on schedule
- Entered $15 million agreement to divest Puregraft®; Out-licensed Celution® for Alopecia
- Restructured term loan resulting in net proceeds of approximately $8 million and deferral of principal payments through June 2014
- Establishing a nationwide Japanese distribution network for Class 1 Celution® System sales
- Received approval for the Celution® System in Australia for processing and delivering adipose-derived regenerative cells as well as commercial registration in New Zealand
- Entered into an agreement to acquire the remaining interest in the Olympus-Cytori Joint Venture, including all manufacturing rights for the Celution® System
- Awarded three patents, including a methods patent for using adipose-derived regenerative cell therapy for treating renal disease and licensed exclusive rights to a patent related to adipose-derived regenerative cells for the treatment of autoimmune diseases
- Successfully recruited Dr. Steven Kesten as Executive Vice President and Chief Medical Officer