Maxim analyst Jason Kolbert said that after speaking at length with Cytori Therapeutics' management his sense is that while the STAR trial missed significance, it wasn't by much in the diffuse patients subgroup, which he believes leaves a path for regulators to still approve its Habeo cell therapy in scleroderma patients. An additional "modestly powered" trial in diffuse patients could set the stage for an approval path, said Kolbert, who added that Azaya is also on track for filing but he does not believe its potential is reflected in Cytori's current "distressed" valuation. Kolbert lowered his price target on Cytori to $5 from $10 but keeps a Buy rating on the stock, which is down nearly 70% since the STAR trial announcement.