Cytori Therapeutics has reported net loss of $30 million, or $1.12 per share on a basic and diluted basis for 2008, compared to $28.7 million, or $1.25 per share on a basic and diluted basis for 2007.
 
The increase in net loss is attributable in part to increased sales and marketing expenses, coinciding with the Celution System launch, a non cash increase in the fair value of the option liability during 2008, and a gain on sale of assets in 2007, for which there was no comparable gain in 2008. This was offset in part by a reduction in research and development and general and administrative expenses.
 
Total revenues in 2008 were $6.9 million. This consisted of $4.5 million in Celution System and StemSource product revenues, compared to $792,000 in product revenues in 2007. This increase in product revenues was largely due to the first year launch of the Celution System and the StemSource Cell Bank. Gross margins on product revenues for 2008 were 59%.
 
Cytori ended the year with $12.6 million in cash and cash equivalents compared to $11.5 million as of December 31, 2007.