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Biotech / Medical : Cytori Therapeutics, Inc.

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From: tnsaf	12/1/2009 12:29:17 AM
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Q3 209 Earnings Call is available at SeekingAlpha seekingalpha.com Most of it is Q&A. Here is an extract of the opening remarks by Christopher J. Calhoun Thanks Jeremy. Good morning. And welcome to Cytori Therapeutics third quarter 2009 conference call. Before we begin, we want to advise that over the course of our call and question and answer session, forward-looking statements will be made regarding events, trends and business prospects which may affect our future operating results and financial position. Some of these risks and uncertainties are described under the risk factor section in Cytori Security and Exchange Commission filings, which we advise you to review. We assume no responsibility to update or advise any forward-looking statements to reflect events, trends or circumstances after the date they’re made. Now let’s turn to the quarter. In the first nine months of 2009, we experienced very positive signs that we’re building a solid foundation for our business. Our technology continues to reach more physician practices and as a result we’re seeing related growth in consumable sales. In Q3 specifically, we saw a marked reduction in inventory that key distributions and thus an increase in number of systems that have been installed and are now being operated. This is being driven mostly by demand in Europe within the cosmetic surgery market where Celution customers are starting to aggressively market cell enriched cosmetic surgery to patients to differentiate their practice. We’re also making progress in our clinical trials. For our breast reconstruction study, 69 out of 70 patients have been treated and completion of enrollment is eminent. This month the last patients will come in for their primary six month follow-up in both of our cardiac studies. Also this month, we will be submitting our Celution 700 510(k) to the FDA for which a response from the FDA could result in an initial market clearance will allow us to further define a specific path. Collectively, we view these events as setting us up for an exciting six months. And with that we’d like to open up the call for questions. Jeremy?

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