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Fly News Breaks for August 15, 2018
CYTX
Aug 15, 2018 | 08:32 EDT
As reported earlier, Maxim analyst Jason McCarthy downgraded Cytori Therapeutics to Hold from Buy. The analyst notes that while his positive fundamental views around the company's liposomal doxorubicin and cell therapy programs are unchanged, the capital constraints are an increasing concern. McCarthy adds that Cytory's cash position of about $8M only give it the operating runway into the first quarter of 2019, and the company also has about $14M in debt that needs to be refinanced before initial payments deadline of September 1st.
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