Why Investors Are Watching Athersys Ahead Of Stem Cell Data
Want an edge on biotech stocks? Try this.
Learn more about investing in the biotech sector with real-time trading picks from experts like the Biotech Trader.
Athersys, Inc. (NASDAQ: ATHX) is a biotechnology company focused on developing therapies to treat inflammatory and immune, neurological, and cardiovascular diseases.
The company’s lead product in development is called MultiStem. MultiStem is a biologic product that uses stem cells taken from adult bone marrow or other tissues.
In April 2014, the company announced that 8-week interim results from a Phase 2 trial for ulcerative colitis did not meet primary endpoints.
Now, the company is expecting to release Phase 2 data of MultiStem in ischemic stroke patients near the end of the first quarter.
The company announced that the patient enrollment period for the study ended at the end of December.
This is a fairly large market opportunity, as approximately two million people across the globe suffer from a stroke each year.
On December 29, 2014 Athersys CEO stated: "With enrollment now finished, we look forward to the initial 90-day results from this study. An ischemic stroke can be a devastating event for a patient, and effective treatments for stroke are limited, resulting in substantial opportunities for new therapies. Based upon MultiStem's preclinical efficacy profile, its novel mechanisms of action, and a favorable safety profile demonstrated in preclinical and clinical settings, we believe that MultiStem could provide meaningful benefit to these patients. The results from this study are expected to provide significant insight into the potential for MultiStem therapy for the treatment of ischemic stroke."
The company recently presented at the 2015 Biotech Showcase in San Francisco.
The company will also be presenting at the 17th Annual BIO CEO and Investor Conference in New York on February 10 at 11:00 a.m. EST.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.