Antares Shares fell 8.5% and Rigel Pharma fell 9% today, for the same reason....announcing dilutive secondary's to raise cash. Without near term announced partnerships with associated funding, this could happen at Cytori
I concur, the uncertainty of solving the cash flow problem is likely a major negative overhang on share price. I have no doubt that Cytori management is motivated to pursue funded partnerships. The reality is completing transactions in Q-4 can be difficult because larger partners are preoccupied with showing strong end of year revenue and earnings performance. A Cytori partnership may not register as a higher year end priority for those firms. Concurrently, the Citori C/F clock is timing down, the debt load is already very high, and a secondary may be necessary. While I am long term optimistic about Citori, short term the stock could retrench to $ 3.16 the 50 day SMA or $ 3.61 the September 27 low.