Oct 18th 2013 - Edison Investment Research today published a report on Cytos Biotechnology AG (CYTN.L, LSE:CYTN, LON:CYTN) entitled "Cash And Clinical Data". In summary, the report says:
Cytos will raise up to CHF17.6m in new equity to advance its lead asset, CYT003, for allergic asthma. The new funds will ensure that Cytos is well capitalised ahead of CYT003 Phase IIb results in moderate-to-severe patients (Q214). Assuming the data are positive, the strengthened cash balance should provide Cytos with greater leverage in partnering discussions. Our rNPV remains unchanged at CHF96m pending completion of the financing.
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