San Diego-based Cytori Therapeutics Inc. posted fourth quarter revenues of $7.3 million for 2012, as compared with $2.8 million for the like period in 2011. Its full 2012 revenues were $14.5 million — up from 2011’s $10 million.
The company, whose market capitalization is about $152 million, develops stem cell therapies for heart failure treatment.
“We made substantial progress in 2012 across three key areas of our business: our cardiac pipeline, our recently awarded government contract and our commercial operations,” said Chris Calhoun, CEO of Cytori, in a statement.
He cited that these increases occurred, in part, thanks to “growing revenue opportunities through important European and Japanese regulatory approvals,” which he said were reflected in the strong fourth quarter sales.
The company slightly reduced its losses in 2012 compared with 2011. The company lost $32.3 million in 2012 versus $32.5 million in 2011.
— SDBJ Staff Report