Cytori Therapeutics Inc (NASDAQ: CYTX)
Cytori Therapeutics wasn't off to the best of starts in the market today. In fact, the stock started the day by making a run for the bottom. Throughout the first hour or so, we saw a continuation of further downward movement. However, minutes ago, the stock started soaring, bringing it back to the green. Below, we'll talk about what we're seeing from the stock, why, and what we'll be watching for with regard to CYTX ahead.
What We're Seeing From CYTX
As mentioned above, Cytori Therapeutics didn't seem to be having the best of days in the market early on today. When the opening bell rang, the stock made a mad dash for the red. Throughout the past hour or so, we've seen a continuation of downward movement. Nonetheless, minutes ago, the stock started spiking, bringing the value right back into the green. Currently (10:35), CYTX is trading at $1.56 per share after a gain of 0.01% thus far today.
Why The Stock Is Spiking Upward
As always, as soon as we were notified by our partners at Trade Ideas that CYTX was making a run for the top, the CNA Finance team started digging to see what was causing the movement. In this case, it didn't take long at all for us to dig up the dirt. It seems as though the gains are being caused by a recent announcement by the company that it has reached a key milestone.
Minutes ago, investors learned a bit of information with regard to the Pivotal ADRESU Incontinence Trial that Cytori Therapeutics is working on. According to the announcement, the company has hit the 50% enrollment mark. This is a key milestone that investors have been looking for. As a result, investors are reacting by pushing the stock upward.
What We'll Be Watching Ahead
Moving forward, the CNA Finance team will be keeping a close eye on CYTX. In particular, we'll be watching the progress of the ADRESU Incontinence Trial as well as other work the company is doing in the biotech space. Nonetheless, we'll keep a close eye on the company and bring you the news as it breaks!
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