Cytori Therapeutics Q2 net loss decreases

Tue. August 11, 2009; Posted: 04:40 PM

Aug 11, 2009 (Datamonitor via COMTEX) -- CYTX | Quote | Chart | News | PowerRating -- Cytori Therapeutics, a developer of cell-based therapies, has reported a net loss of $826,000, or $0.02 per share, for the second quarter of 2009, compared to a net loss of $8.41 million, or $0.33 per share, for the same period of 2008.

The company has reported gross profit of $501,000, for the second quarter of 2009, compared to $729,000 for same period of 2008.

Cytori Therapeutics has reported a net loss of $6.92 million, or $0.21 per share, for the first half of 2009, compared to a net loss of $16.69 million, or $0.66 per share, for the same period of 2008.

The company has reported gross profit of $1.33 million, for the first half of 2009, compared to $822,000 million for the same period of 2008.

Christopher Calhoun, CEO of Cytori, said: "During the second quarter, we continued to establish a foundation of Celution customers in Europe and Asia through system sales and we experienced an increase in re-orders of consumables. Additionally, we have completed enrollment in our cardiovascular disease clinical trials, surpassed 70% enrollment for our post-marketing breast reconstruction study, strengthened our balance sheet, and gained important clarity on our US regulatory pathway.

"Due to the nature of the sales cycle for our Celution and Stem Source products, we expect to experience annual revenue growth interspersed with fluctuations in quarterly growth. Based on our current sales pipeline, we maintain our goal for $10 million in product revenue for 2009."

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For full details on Cytori Therapeutics Inc (CYTX) click here. Cytori Therapeutics Inc (CYTX) has Short Term PowerRatings of 6. Details on Cytori Therapeutics Inc (CYTX) Short Term PowerRatings is available at This Link.

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