Athersys, Inc. (NASDAQ: ATHX)
Athersys has a big day coming on the 19th. As mentioned in a previous post, the company will be releasing the results of the last clinical trial for their MultiStem treatment. The treatment is expected to help patients recover from stroke more quickly. However, it doesn’t seem as though investors are very enthusiastic about the results. For the past few days, the stock has been seeing nothing but red! Here’s what we’ve seen and what we can expect to see following the data release on the 19th…
ATHX Has Had A Rough Week
While Monday and Tuesday were relatively flat days, Wednesday turned out to be incredibly bearish and today looks to be doing the same. After closing last week at $3.03 per share, the stock has fallen dramatically. It’s currently (12:11) trading at $2.44 per share.
Is The Decline Founded?
Although ATHX is expected to release the latest results of its MultiStem treatment testing, there’s no guarantee that the results will be positive. As a matter of fact, last April, the stock took a dive when the MultiStem therapy proved to have no benefit to patients with ulcerative colitis. So, I’d imagine that the decline we’re seeing in ATHX stock is the result of skeptical investors doubting the effectiveness of the MultiStem therapy. After ally, if it does prove to be another negative announcement, the bears are going to make a killing!
What I Think We’ll See
I never like to predict that we’ll see negative results when it comes to new treatments. The reality is that the medical advancements companies across the biotech space are making are absolutely amazing, and I wish every one of these companies the best in their quest to make the quality of life better for their fellow humans. With that said, I’m hoping to see great things, but I’m no psychic!
What Do You Think?
Do you think the results released on Sunday the 19th will be positive? Let us know in the comments below!