Health & Fitness
Wed, December 17, 2008Tue, December 16, 2008Mon, December 15, 2008Sun, December 14, 2008Fri, December 12, 2008Thu, December 11, 2008Wed, December 10, 2008Tue, December 9, 2008Mon, December 8, 2008Sun, December 7, 2008Sat, December 6, 2008Fri, December 5, 2008Thu, December 4, 2008Wed, December 3, 2008Tue, December 2, 2008Mon, December 1, 2008Sun, November 30, 2008Fri, November 28, 2008Thu, November 27, 2008Wed, November 26, 2008Tue, November 25, 2008Mon, November 24, 2008Thu, November 20, 2008Wed, November 19, 2008CytoCore CEO Continues to Purchase Shares of CYOE in the Open Market
Published in Health and Fitness on Friday, December 5th 2008 at 11:01 GMT by Market Wire
CHICAGO--([ BUSINESS WIRE ])--CytoCore Inc. (OTCBB:CYOE), the developer of a suite of cost-effective cervical cell collection devices for the early detection of cancerous and precancerous conditions, announced today that Chief Executive Officer Robert McCullough, Jr. has purchased 189,000 shares of the Company's stock over the past weeks, at an average price of $0.26. Additionally, Summitcrest Capital LP, of which Mr. McCullough is the President, purchased 463,900 shares of the Company's common stock in a range of $0.17 to $0.31.
"The investments I continue to make in our company reflect my confidence in CytoCore's prospects for 2009," said Mr. McCullough. "I am optimistic about the introduction and launch of our SoftPAP® Collector, and the development of our Automated Image Proteomic Systems (AIPS) and related assays that could significantly improve the detection of cancerous and precancerous conditions."
In October CytoCore announced superior efficacy and safety results from its pivotal clinical study of the SoftPAP Collector and the standard Spatula/Cytobrush technique. The SoftPAP Collector versus the Spatula/Cytobrush showed a 26% reduction in false negatives where precancerous or cancerous conditions were not diagnosed in patients and a 33% improvement or reduction in false positives where patients have been inaccurately diagnosed as having precancerous or cancerous conditions. The Company believes the SoftPAP Collector offers faster, more accurate specimen collection with less possibility for error, and this data provides its distributors and contract sales force the needed ammunition as they introduce SoftPAP to customers.
About CytoCore Inc.
CytoCore develops cost-effective, highly accurate screening systems for early detection of gynecological and other cancers. Designed for easy deployment at a laboratory or at the point-of-care, the CytoCore suite of sample collection technologies assists in the detection of cervical, endometrial, and other cancers. The CytoCore Solutions™ System is being developed to provide medical practitioners with highly accurate, low-cost, cervical and uterine cancer screening systems that can be seamlessly integrated into existing medical models. More information is available at: [ www.CytoCoreInc.com ].
Certain statements in this release are forward-looking. These statements are based on CytoCore's current expectations and involve many risks and uncertainties, such as the company's inability to obtain sufficient financing, the possibility that clinical trials will not substantiate CytoCore's expectations with respect to the CytoCore Solutions™ System, and other factors set forth in reports and documents filed by CytoCore with the Securities and Exchange Commission. Actual results may differ materially from CytoCore's current expectation depending upon a number of factors affecting the Company's business. These factors include, among others, risks and uncertainties detailed in the Company's periodic public filings with the Securities and Exchange Commission, including but not limited to the Company's Annual Report on Form 10-KSB for the year ended December 31, 2007. Except as expressly required by law, CytoCore undertakes no obligation to publicly update or revise any forward-looking statements contained herein.
