And I would like a Doppio please!
good feeling no? :)
Sentiment: Strong Buy
Here we go1
TheStreet Quant Ratings' exclusive 5-page report for (CYTX) - FREE.
SAN DIEGO (TheStreet) -- Did you read the "exclusive" interview Cytori Therapeutics (CYTX - Get Report) CEO Marc Hedrick gave to Benzinga on Tuesday? I did. Afterwards, I vomited on my shoes.
As the CEO of a struggling stem-cell therapy company, Hedrick needs to don brightly colored pom-poms just to grab investors' attention. Unfortunately, to believe the fairy-tale story Hedrick spins to Benzinga requires ignorance of Cytori's ugly past and an inability or unwillingness to actually conduct any due diligence on the company outside of Hedrick's assertions.
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Let's run Hedrick's interview through our BS detector:
On Monday, Hedrick said, Cytori and its exclusive licensee, Lorem Vascular, were granted regulatory clearance for distribution and sale of the Cytori Celution System by the State Food and Drug Administration of the People's Republic of China.
Ah, the big news which pushed Cytori's stock price higher this week. Okay, but Cytori still hasn't answered questions about the background and capabilities of its Asian stem-cell partner Lorem Vascular dating back to November 2013. Lorem's Web site remains a static placeholder.
And where is the promised revenue from Lorem which Cytori promised long ago? When the Cytori-Lorem Asian stem-cell partnership was first announced in November 2013, Cytori told investors that Lorem would be spending $7 million to purchase Cytori's stem-cell harvesting machines and another $2 million on consumables used with the machines.
CYTX Chart In reality, Lorem spent $1.85 million to purchase Cytori equipment in 2013 and zero -- nothing -- in 2014, according to Cytori's annual reports filed with the SEC.
I asked but Cytori won't explain why Lorem fell more than $7 million short of its spending commitments so far. It's important and material because Cytori reve
I think I read something about that ! Thanks!