Athersys, Inc (NASDAQ: ATHX)
Athersys is having an incredibly strong day in the market today, and for good reason. The company released data from a Phase 2 clinical trial looking into MultiStem cell therapy which proved to be incredibly positive. Today, we’ll take a look at the results that were released, how the market reacted to the news, and what we can expect to see from ATHX moving forward. So, let’s get right to it…
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ATHX Announces Positive Phase 2 Data
Yesterday, after the closing bell, Athersys made a huge announcement. It announced data from a recent Phase 2 clinical study looking into the intravenous administration of MultiStem cell therapy. The data points came from a one-year follow-up of patients treated with MultiStem who have suffered an ischemic stroke. According to the data released by ATHX, MultiStem-treated subjects continued to improve through a one-year period on average, leading to a significantly higher rate of “Excellent Outcome” compared to placebo subjects at the one year evaluation point. The data also showed that the improvement in patients as a result of the MultiStem treatment was even greater when patients were treated within 36 hours of the stroke. In a statement, Chairman and CEO of ATHX, Dr. Gil Van Bokkelen had the following to say:
“We are particularly excited by the one-year follow-up results because they show that MultiStem treatment can significantly increase the number of patients who have an Excellent Outcome, meaning complete or nearly full recovery, over the standard of care when considering all subjects in the trial… The one-year data continues to confirm that MultiStem treatment is well tolerated and is associated with continued improvement of other measures of function through one year. As we saw in the 90-day interim analysis results announced last April, patients who received MultiStem treatment within 36 hours of the stroke did substantially better than placebo patients and later treatment MultiStem subjects. As a result, we will continue to focus our ongoing clinical development on treatment within 36 hours of the stroke.”
How The Market Reacted To The News
As investors, we’ve learned that any time news is released with regard to a publicly traded company, we can expect to see movement in the market as a result. Naturally, positive news leads to positive moves and negative news leads to negative moves. With that said, the news released by ATHX today was overwhelmingly positive, so it’s no surprise that we’re seeing incredibly positive movement on the stock today. Currently (10:04), Athersys is trading at $2.07 per share after a gain of $0.62 per share or 42.76% thus far today.
What We Can Expect From ATHX Moving Forward
Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from Athersys. I have followed the company for quite some time as they move forward with trials of MultiStem cell therapy and have been incredibly impressed with the results that the company has been able to achieve. Based on the most recent data released by ATHX, I’m expecting to see further investor excitement pushing the stock up as we move toward further phases of testing and eventually FDA approval. All in all, things are looking great for ATHX.
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What Do You Think?
Where do you think ATHX is headed moving forward and why? Let us know your opinion in the comments below!
[Image Courtesy of Pixabay]