Aegis Capital has issued a ‘Buy’ rating and price target of $15 on shares of Caladrius Biosciences’ (NASDAQ: CLBS) stock. The company recently reported financial results for the three and 12 months ended December 31, 2016. The company full year revenues of $35.3 million, an increase of 57% compared with $22.5 million for 2015. Caladrius also reported cash at year-end of $14.7 million. Additionally, the company recently announced the sale of the remaining 80.1% interest in its PCT LLC subsidiary to Hitachi Chemical for $75 million in cash with an additional $5 million payable upon reaching an undisclosed revenue milestone by the end of 2018. Caladrius said it is now shifting its focus to the development of cell-based therapies.
For more information visit www.caladrius.com
About Caladrius Biosciences
Caladrius Biosciences, Inc. is a cell therapy development company with cell therapy products in development based on multiple technology platforms and targeting autoimmune and cardiology indications. The company is investigating its lead product candidate, CLBS03, for the treatment of recent-onset type 1 diabetes in a currently enrolling Phase 2 trial. The company’s subsidiary, PCT, is a development and manufacturing partner exclusively focused on the cell therapy industry and has served over 100 clients since 1999. Caladrius has entered into a definitive agreement pursuant to which Hitachi America intends to purchase Caladrius’ remaining 80.1% membership interest in PCT and thereby transform Caladrius into a therapeutics-only development company. The sale of the company’s remaining interest in PCT is subject to the approval of the company’s stockholders and customary closing conditions. There can be no assurance that such sale will be completed in the anticipated timeframe or at all.
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