An­oth­er mi­cro-cap biotech has flunked a piv­otal test for a re­gen­er­a­tive cell ther­a­py

To­day the fail­ure be­longs to Cy­tori Ther­a­peu­tics $CYTX which says that the cells it ex­tract­ed from pa­tients’ fat failed to hit ei­ther the pri­ma­ry or sec­ondary end­points in a Phase III com­par­i­son with place­bo in treat­ing scle­ro­der­ma. Most of the end­point scores were far off from any in­di­ca­tion of suc­cess.

Shares of Cy­tori were evis­cer­at­ed on the news, drop­ping 60% in­to pen­ny stock land.

The San Diego-based biotech, though, was able to ex­tract some ma­te­r­i­al to back its ther­a­py Habeo, even though in­vestors were not in any way re­as­sured.

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