Athersys, Inc. (NASDAQ: ATHX)
Athersys is having an incredibly strong day in the market today. After starting the day off in the red, the stock started moving upward as soon as the opening bell rang. Since then, we’ve seen a continuation of strong movement, bringing the stock well into the green. Below, we’ll talk about what we’re seeing from ATHX, why, and what we’ll be watching for ahead.
What We’re Seeing From ATHX
As mentioned above, Athersys is having a great day in the market today. At the opening bell, the stock was trading well into the red. However, that didn’t last long. As soon as trading started for the day, the stock started making a strong push toward the top that hasn’t stopped yet. Currently (10:49), ATHX is trading at $1.16 per share after a gain of $0.03 per share or 2.65% thus far today.
Why The Stock Is Running Upward
As is nearly always the case, our friends at Trade Ideas were the first to send the alert that ATHX was making a run for the top. As soon as we received it, the CNA Finance team started to work to see exactly what was causing the movement. It didn’t take long to dig up the story. Ultimately, the gains are being caused by an announcement the company made through a press release early this morning.
In the press release, Athersys announced a coming presentation that is centered around its MultiStem(R) cell therapy treatment for ischemic stroke. The presentation will be given at the International Stroke Conference 2017 this week. In a statement, Dr. Houkin, the presenter, had the following to offer…
“We are very excited to be commencing this clinical trial at Hokkaido University Hospital and then at other leading stroke centers across Japan… The need for safe, effective and clinically-preactical treatments for ischemic stroke patients has never been greater. Based on the clinical results from the recently completed MASTERS-1 Phase II clinical study, many believe that innovative treatments like MultiStem cell therapy hold great promise for treating the devastating effects of a stroke and helping patients recover more efficiently. Given the rapidly expanding aging population both in Japan and globally, safe and effective treatments that can reach a greater number of stroke victims could make a significant difference for many patients and their families.”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping an incredibly close eye on ATHX. In particular, we’re interested in the presentation to come and the company’s ongoing work with MultiStem cell therapy. Nonetheless, we’ll keep a close eye on the stock and continue to bring you the news as it breaks!
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