On Dec. 21, 2009, we introduced Cytori Therapeutics Inc. (Nasdaq: CYTX) to Money Morning readers as a "special situation" stock worthy of consideration. The stock has surged more than 40% since then.
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A big reason for that move was that the company received approval from the U.S. Food and Drug Administration (FDA) to start marketing a product called PureGraft that prepares a patient's fat tissue for reinjection into the body for cosmetic procedures. Technically, this was what the industry calls a 510(k) clearance, which is the equivalent, for medical devices, of clearing Phase III trials for a drug.
So, what exactly is PureGraft and why is it so important? For those questions, I turned to one of my sources on the company, an investor and analyst who asked not to be identified.