Cytori Therapeutics (CYTX)

Business description

Cytori sells the Celution device to harvest and concentrate adipose cells at the bedside for autologous therapy. It is CE marked. Two cardiac studies are underway in heart attack recovery and chronic heart disease.

Share price chart

Share chart

Stock data

Market cap.US$177.3m
Last closeUS$2.350
High / Low (52 weeks)US$3.4 / US$2.1
Stock market listingNASDAQ
Forecast net debt (US$m)31.8
Forecast gearing ratio (%)141
TeamHealthcare
SectorPharmaceutical & Healthcare

Price performance

%1m3m12m
Actual(16.4)(24.9)(6.7)
Relative *(17.3)(25.6)(21.2)

* % Relative to local index

Other companies in sector Show

4SC aap Implantate AG
Aastrom Biosciences AB Science
Abcam Ablynx
Achillion Acorda Therapeutics
Active Biotech Addex Therapeutics
Advanced Medical Solutions Aegerion Pharmaceuticals
Aeterna Zentaris Agennix
Alchemia Alexza Pharmaceuticals
Algeta ALK Abello
Alkermes Allergy Therapeutics
Alliance Pharma Alnylam Pharmaceuticals
Amarin AmpliPhi Biosciences
Animalcare Group Anteo Diagnostics
Anthera Pharmaceuticals Aratana Therapeutics
Ardea Biosciences Arena Pharmaceuticals
Ariad Pharmaceuticals Ark Therapeutics Group
ArQule Array BioPharma
Arrowhead Research Corporation Astex Pharmaceuticals
Athersys AVEO Pharmaceuticals
Basilea Bavarian Nordic
Bellus Health Benitec Biopharma
BioAlliance Pharma BioCryst Pharmaceuticals
BioInvent BioLineRx
Bionomics Bionor Pharma
Biota Holdings Biotie Therapies Corp
Biotron BTG
Can-Fite BioPharma Cardio3 BioSciences
Celldex Therapeutics Cellectis
Circadian Technologies Clavis Pharma
Cleveland BioLabs Clinigen
Clinuvel Consort Medical
Curis Cytos Biotechnology
CytRx Corporation DBV Technologies
Dechra Pharmaceuticals Delcath Systems
Deltex Medical Derma Sciences
DiaSorin Diaxonhit
e-Therapeutics EKF Diagnostics
Endocyte Epigenomics
Epistem Holdings Erytech Pharma
Esperion Therapeutics Evolva
Evotec Exact Sciences
Exelixis Formycon
Futura Medical Galapagos
Genfit Genmab
GeoVax GI Dynamics
Gilead Sciences GW Pharmaceuticals
Halozyme Therapeutics Horizon Discovery
Hutchison China MediTech Hybrigenics
iCo Therapeutics Idenix
Immune Pharmaceuticals Immunodiagnostic Systems Holdings
ImmuPharma Imperial Innovations
Incyte Corporation Infinity Pharmaceuticals
Innate Pharma Insmed
Invion Ion Beam Applications
Ipsogen Ironwood Pharmaceuticals
Ixico KaloBios Pharmaceuticals
Karolinska Development Keryx Biopharmaceuticals
LCA-Vision LeMaitre Vascular
Lifeline Scientific Ligand Pharmaceuticals
Lombard Medical Technologies MagForce
Mast Therapeutics Medcom Tech
Medicago Medigene
Medivir Merrimack Pharmaceuticals
Merrion Pharmaceuticals Mesoblast
MethylGene MolMed
Mologen AG MorphoSys
Nanobiotix Nanosonics
Nektar Therapeutics Neovacs
Newron Pharmaceuticals NicOx
NMC Health NorDiag
Nordion NovaBay Pharmaceuticals
Novogen NPS Pharmaceuticals
Omega Diagnostics Group OncoGenex Pharmaceuticals
Oncolytics Biotech Inc OncoMed Pharmaceuticals
Onconova Therapeutics Oncothyreon
Onyx Pharmaceuticals OPMEDIC Group
Optos Orexigen Therapeutics
Orexo OvaScience
Oxford BioMedica Paion
Paladin Labs Patheon
Pharmacyclics Pharmaxis
Pharming Group Photocure
Phylogica Prima BioMed
ProMetic Life Sciences Prosensa
Proteome Sciences QRxPharma
Regeneus Resverlogix
REVA Medical Sangamo BioSciences
Sarepta Therapeutics Sartorius
Scancell Selvita
Sinclair Pharma Sirtex Medical
Skyepharma Smith & Nephew
Sobi Sosei Group Corporation
Source Bioscience SQI Diagnostics
Stallergenes Stem Cell Therapeutics
StemCells Stentys
Stratec Biomedical Sucampo Pharmaceuticals
Sunesis Pharmaceuticals Surgical Innovations
Sygnis Synergy Health
Synta Pharmaceuticals Tekmira
TESARO Threshold Pharmaceuticals
ThromboGenics TiGenix
Tissue Regenix Tissue Therapies
Topotarget Transgene
Trimel Pharmaceuticals UCB
United Drug Vectura
Verastem Verisante Inc
Vernalis Vertex Pharmaceuticals
Viralytics ViroPharma
Vivalis Vivus
WaferGen Biosystems Wilex
Zealand Pharma Zeltia
Ziopharm Oncology
Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2012A 14.5 (28.4) (33.0) (56.3) N/A N/A
2013A 12.2 (32.6) (38.1) (56.2) N/A N/A
2014E 12.4 (35.3) (40.2) (53.5) N/A N/A
2015E 33.3 (22.9) (27.0) (35.9) N/A N/A

Last updated on 27/03/2014

Investment summary

Cytori continues to develop its business in patient derived adipose (fat) derived regenerative cells (ADRC). FY13 sales of the Celution device for preparing ADRC for clinical research were $7.1m with $3.6m of sales potentially postponed to 2014. BARDA government contracts were $3.3m. A new BARDA contract may be awarded from H214 and is critical to progress a possible burns indication. The ATHENA ischemic cardiomyopathy trial may announce the 40m cell dose arm data in Q115. The 80m cell dose arm could report in Q315, enabling a Phase III from 2016. Cash on 31 December was $15.5m with a further $9m received in Q114.

Last updated on 31/03/2014

Industry outlook

Cardio3 (autologous) and Teva/Mesoblast(allogenic) both have Phase III studies in chronic ischemic heart disease underway. Baxter has curtailed its pivotal study recruitment. Cytori could have a clear and defensible market position, but is some way from a pivotal trial.

Last updated on 31/03/2014

Key management

Christopher Calhoun , CEO
Mark Saad , CFO

Company address

3020 Callan Road
San Diago
CA 92121
United States
+1.858.458.0900
View website