Monday, December 22, 2014 9:07:35 AM
CYTX - .5059
Cytori Therapeutics Jumps 13% Pre-Bell on Amended Contract to Develop Cell Therapy for Thermal Burn Injuries
09:00 AM EST, 12/22/2014 (MT Newswires) -- Cytori Therapeutics (CYTX) shares jumped in pre-market trading Monday, after the cell-therapy company said Friday it amended an existing contract option signed in August 2014 with a division of the U.S. Dept. of Health and Human Services to fund research and development of Cytori Cell Therapy to treat thermal burn injuries.
The amended contract adds $2 million to the original value, raising the total value to $14.1 million. Once the FDA awards investigational device exemption, the U.S. Health Dept.'s Biomedical Advanced Research and Development Authority will provide additional funding costs of about $8.3 million, raising the total combined contract option value to $22.4 million.
The original $12.1 million contract retains two additional options to fund clinical trials and research in thermal burns aggravated by radiation exposure for up to $45 million and $23 million, respectively.
CYTX shares were up 13% at $0.57 in recent pre-market trading, within a 52-week range of $0.36 to $3.47.
Price: 0.57, Change: +0.06, Percent Change: +12.67
http://www.mtnewswires.com © 2014 MT Newswires, a Division of MidnightTrader, Inc. All rights reserved.
Cytori Therapeutics Jumps 13% Pre-Bell on Amended Contract to Develop Cell Therapy for Thermal Burn Injuries
09:00 AM EST, 12/22/2014 (MT Newswires) -- Cytori Therapeutics (CYTX) shares jumped in pre-market trading Monday, after the cell-therapy company said Friday it amended an existing contract option signed in August 2014 with a division of the U.S. Dept. of Health and Human Services to fund research and development of Cytori Cell Therapy to treat thermal burn injuries.
The amended contract adds $2 million to the original value, raising the total value to $14.1 million. Once the FDA awards investigational device exemption, the U.S. Health Dept.'s Biomedical Advanced Research and Development Authority will provide additional funding costs of about $8.3 million, raising the total combined contract option value to $22.4 million.
The original $12.1 million contract retains two additional options to fund clinical trials and research in thermal burns aggravated by radiation exposure for up to $45 million and $23 million, respectively.
CYTX shares were up 13% at $0.57 in recent pre-market trading, within a 52-week range of $0.36 to $3.47.
Price: 0.57, Change: +0.06, Percent Change: +12.67
http://www.mtnewswires.com © 2014 MT Newswires, a Division of MidnightTrader, Inc. All rights reserved.
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