SUNRISE, Fla., Aug. 10, 2011 (GLOBE NEWSWIRE) -- www.globenewswire.com/newsroom/ctr%3Fd=227994%26l=1%26a=Bioheart%252C%2520Inc.%2520%26u=http%253A%252F%252Fwww.bioheartinc.com%252F">Bioheart, Inc. (OTCBB:BHRT) announced today that they have received a 52 week outlook buy rating from biotech focused research firm Prime Equity Research. Kipley J. Lytel, CFA, MBA, senior analyst with New York City-based Prime Equity Research has initiated coverage on Bioheart with a 12-month stock target price and analyst's rating, in a report dated August 2, 2011. The full report includes important disclosures, disclaimers and analyst information. Results of the independent report will be available at www.primeequityresearch.com
About Bioheart, Inc.
Bioheart is focused on completing the Phase II/III MARVEL study for chronic heart failure using MyoCell. The product candidate has been in clinical trials since May of 2001 with the goal of commercial approval with the current clinical program. There are approximately 130 more patients needed to complete the randomized, double blinded, placebo controlled MARVEL trial. In part one of the MARVEL trial, the performance of MyoCell was nearly 500% above its primary end point goal of 16 meters improvement in exercise capacity testing. MyoCell treated patients improved 91.7 meters while placebo patients declined 4 meters.
MyoCell is a muscle-derived stem cell therapy designed to populate regions of scar tissue within a patient's heart with new living cells for the intended purpose of improving cardiac function and quality of life in chronic heart failure patients.
For more information on Bioheart, visit www.globenewswire.com/newsroom/ctr%3Fd=227994%26l=7%26a=http%253A%252F%252Fwww.bioheartinc.com%26u=http%253A%252F%252Fus.lrd.yahoo.com%252F_ylt%253DAlOSZ9CEXfT3uibZcyJcgLWxcq9_%253B_ylu%253DX3oDMTE2cnJmdW9hBHBvcwMxBHNlYwNuZXdzYXJ0Ym9keQRzbGsDaHR0cHd3d2Jpb2hl%252FSIG%253D11fguppga%252FEXP%253D1312565712%252F%252A%252Ahttp%25253A%252Fwww.bioheartinc.com%252F">http://www.bioheartinc.com.
Forward-Looking Statements: Except for historical matters contained herein, statements made in this press release are forward-looking statements. Without limiting the generality of the foregoing, words such as "may," "will," "to," "plan," "expect," "believe," "anticipate," "intend," "could," "would," "estimate," or "continue" or the negative other variations thereof or comparable terminology are intended to identify forward-looking statements.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Also, forward-looking statements represent our management's beliefs and assumptions only as of the date hereof. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
The Company is subject to the risks and uncertainties described in its filings with the Securities and Exchange Commission, including the section entitled "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2010, and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2011.