{"id":1811,"date":"2012-08-06T20:40:51","date_gmt":"2012-08-07T00:40:51","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=1811"},"modified":"2012-08-06T20:40:51","modified_gmt":"2012-08-07T00:40:51","slug":"medicare-coverage-heals-a-painful-summer-for-cytomedix-cmxi","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/medicare-coverage-heals-a-painful-summer-for-cytomedix-cmxi-1811","title":{"rendered":"Medicare Coverage Heals A Painful Summer For Cytomedix (CMXI)"},"content":{"rendered":"

A dismal summer for Cytomedix (OTC: CMXI)\u00a0stock suddenly turned a little brighter today. The Centers for Medicare and Medicaid Services\u00a0announced<\/a>\u00a0that they had approved coverage for autologous blood-derived products (the patient\u2019s own blood) used in the treatment of chronic wounds specifically resulting from diabetes and pressure or venous wounds. Cytomedix develops and sells regenerative therapies including its AutoloGel System that produces platelet-rich plasma from the patient\u2019s blood to treat wounds and inflammation.<\/p>\n

Until today, the stock had fallen 44% from its 52-week high print at $2.32 recorded toward the last days in May. Buyers stampeded out of the gate this morning sending share prices 28 cents higher than the closing trade on Friday. In trader parlance, the stock gapped where the low trade of the day at $1.41 was higher than the previous day\u2019s high. Traders will be looking to see if this morning\u2019s news and action will lead to additional rallies in the stock price, or if today is just a one-trick pony. The stock reached its high on the day by the time 30 minutes had expired from the opening bell when it traded for $1.80. Shares of Cytomedix registered a gain of 30% for the session to close at $1.64, or up 38 cents. The 532,000 shares exchanging hands today far out-distanced an average daily volume of 122,000.<\/p>\n

Shares hit an annual low of $0.28 almost a year ago. The stock had climbed steadily for nine months toward its summit and a gain of 900% from the bottom before swooning in June.<\/p>\n

Cytomedix is a biotechnology company focused on the development and commercialization of innovative wound care therapies using the regenerative properties of platelets and adult stem cells. The company finds itself in a field that includes giants like Johnson and Johnson (NYSE: JNJ) and Baxter International (NYSE: BAX). The Gaithersburg, Maryland, company was founded in 1998.<\/p>\n

In other related\u00a0news<\/a>, Cytomedix announced on July 18, 2012,\u00a0the initiation of a phase I clinical study of ALD-451 in collaboration with Duke University for patients with brain cancer.<\/p>\n

On April 11, 2012,\u00a0the company\u00a0released positive<\/a> AutoloGel wound healing data.<\/p>\n

A couple of stock promoters put out notes today on Cytomedix that can be viewed on Stockpromoters.com<\/a>. The Stock Wizards said, \u201cThe company\u2019s autologous technologies offer clinicians a new treatment paradigm for wound and tissue repair.\u201d Penny Trader Publisher alerted readers with following note: \u201cUp 25.4% in morning trading to $1.58\u201d. Neither promoter listed receiving any compensation.<\/p>\n

Twitter<\/a> saw plenty of promotional activity for Cytomedix. @Pennystocks 24<\/a> tweeted about The Stock Wizards promotion of the stock, and @StockNewsNow<\/a> noted the Medicare news.<\/p>\n","protected":false},"excerpt":{"rendered":"

A dismal summer for Cytomedix (OTC: CMXI)\u00a0stock suddenly turned a little brighter today. 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