Cytori Therapeutics Inc (NASDAQ:CYTX)
Cytori Therapeutics is having an incredibly strong day in the market today, and for good reason. The company announced a number of key additions to its patent portfolio. The additions to the portfolio came out of Japan and Europe. Today, we'll talk about the announcement, how the market reacted to the news, and what we can expect to see from CYTX moving forward.
CYTX Announces Additions To Its Patent Portfolio
As mentioned above, Cytori Therapeutics made a key announcement with regards to additional patents the company has earned. As of the statements made today, CYTX now has a list of 85 global patents, with 12 of these patents in Japan. Not to mention, the company currently has 55 patents that are pending around the world. According to the announcement, the Japan Patent Office recently granted CYTX with patent number 5,883,553. This patent is a foundational patent for the production of cellular and tissue therapeutics that contain a combination of adipose tissue with adipose-derived regenerative cells, protecting the company's methods for manufacturing therapeutics associated with the patent.
It was announced that the company's patent position is also strengthening in Europe. Cytori announced that the European Patent Office has granted Patent number 1921133; a patent that protects current and next generation cellular therapeutic manufacturing technology throughout Europe. On top of this, Europe also granted CYTX patents EP1778293 and EP1776126. These patents protect cellular therapeutics in the treatment of degenerative disc disease as well as stroke. In a statement, John D. Harris, Vice President and General Manager of Cell Therapy at CYTX had the following to offer...
“Cytori continues to invest in its global IP position, amassing over 85 international patents in strategic markets and countering competitive efforts... Japan and Europe are important markets for Cytori and these patents are strategically targeted and will serve to support our efforts in these territories for both current and future applications of our technology.”
How The Market Reacted To The News
As investors, we know that the news ultimately moves the market. Any time there is positive news released with regard to a publicly traded company, we can expect to see gains in the value of that company. Adversely, any time negative news is released, chances are that gains are on the way. With that said, following the overwhelmingly strong news out of CYTX, we're seeing strong gains on the value of the stock today. Currently (9:41), the stock is trading at $0.31 per share after a gain of $0.03 per share or 11.64% thus far today.
What We Can Expect To See Moving Forward
Moving forward, I have a relatively bullish opinion of what we can expect to see from CYTX. The reality is that the company has come up with strong therapeutics, and perhaps more importantly, continues to back up its efforts with patents that protect it from competition. While I would love to see some profitability, I do believe that this will come with time. So, all in all, my opinion on Cytori is relatively bullish.
What Do You Think?
Where do you think CYTX is headed moving forward and why? Let us know your opinion in the comments below!