Daily Dose Commentary: According to their press release, CMXI is tight on cash: “Cash and cash equivalents as of December 31, 2011 were $2.25 million compared with $0.64 million
as of December 31, 2010. The Company used $4.24 million to fund operating activities during 2011”. The key question is how will they move forward with Aldagen’s clinical programs ?
Cytomedix, Inc. (OTCBB: CXMI) is a biotechnology company developing advanced tissue regeneration technologies. Their primary focus is on commercializing autologous cell based therapies that facilitate the body’s natural healing processes for enhanced healing and tissue repair. Their commercial portfolio is based on autologous platelet rich plasma (“PRP”) platform technology, and includes the Angel® Whole Blood Separation System (“Angel®”) and the AutoloGelTM System (“AutoloGel”).
Cytomedix (OTC/BB: CMXI) announced its financial results for the fourth quarter and year ended December 31, 2011. The Company reported a total revenue increase of 129% to $2.96 million from $1.29 million the prior quarter and a year total revenue increase of 85% to $7.25 million from $3.91 million in 2010. The Company attributed the increase to higher sales of the Angel and AutoloGel Systems as well as a non-refundable option fee.
Chief Executive Officer of Cytomedix Martin P. Rosendale commented,
"2011 was an exceptional year for Cytomedix, and was one in which we significantly strengthened the Company and positioned it for future growth and business expansion. The Angel business continues to grow nicely, posting double-digit sales increases, and we have made substantial progress with the AutoloGel system both with business development and reimbursement initiatives. We significantly strengthened our balance sheet with the early retirement of the remaining debt from the Angel acquisition and the $2.0 million non-refundable option payment received from our potential strategic global pharmaceutical partner for AutoloGel. Importantly, we recently expanded our commitment to regenerative medicine with the acquisition of Aldagen in February 2012, and we are now a significantly more diversified business with both commercial products and a robust pipeline of promising regenerative technologies."
Read the full press release here.