Medical penny stocks are always intriguing as a company can be one good result away from a stock boom. Cytori Therapeutics (NASDAQ:CYTX) may just be a very good example of this, as the company shared news earlier today of a device approval in Japan.
This is exactly the type of development investors want to see in a medical stock.
Also, Cytori stocks are currently selling for a low figure of $0.34 USD. So, on this news, the stock is in a prime position. Let’s take a look.
Medical Penny Stocks: Cytori Therapeutics Inc.
Cytori Therapeutics is a US-based pharmaceutical company that develops medical devices for stem cell research.
Earlier today, the company announced it received approval in Japan for a medical device called the Cellution Cell Therapy System. This device was also given Class III classification, which is important as it indicates the highest level of safety and efficacy for medical devices in Japan.
The Cellution Cell Therapy System treats thermal and radioactive burn wounds using regenerative cells from fat.
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Expansion in Japan
The green light on this device now means Cytori can expand its ‘commercial efforts’ in Japan.
Or, as its CEO and President Marc Hendrick puts it: “This approval… allows Cytori to meet forecasted product demand, particularly in Japan, and better prepares us for the data read out in our Japan ADRESU pivotal trial next year.”
Penny Stock May Grow in 2019
Cytori is expecting the device to be used greatly across Japan now that it has received class III status. But akin to that, the company is also expecting results from its ADRESU trial to come in 2019.
45 patients in Japan were treated in 2018 as part of the company’s trial for ADRESU. This is the company’s treatment of “stress urinary incontinence arising out of complications from prostate intervention in men.” Similarly, this trial uses regenerative cells from fat.
Should Cytori receive a green light here too, then this penny stock may see a further surge as the company continues to expand operationally.
Featured Image: Depositphotos/© yoka66
