This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Athersys Reports Second Quarter 2012 Results

CLEVELAND, Aug. 13, 2012 (GLOBE NEWSWIRE) -- Athersys, Inc. (Nasdaq:ATHX) today announced its financial results for the second quarter ended June 30, 2012. Second quarter and recent highlights include:
  • Continued advancement of ongoing MultiStem ® Phase 2 clinical studies for treatment of ulcerative colitis, with Pfizer Inc., and for treating ischemic stroke;
  • Accelerated characterization and development of the company's 5HT2c agonist portfolio for obesity and other disorders, and business development outreach and discussions, building on momentum from recent Lorcaserin and Qnexa obesity drug approvals;
  • Engaged in planning and preparation for potential Phase 2/3 clinical study of MultiStem administration to prevent or reduce graft-versus-host disease (GvHD), following productive 2 nd quarter meeting with FDA;
  • Received a U.S. patent providing protection through 2028 for the use of non-embryonic multipotent stem cells for the reduction in severity or prevention of GvHD, an indication for which the company already has orphan drug designation;
  • Granted orphan drug designation by the FDA for MultiStem cell therapy for the treatment of Hurler's Syndrome, and published preclinical study results suggesting that MultiStem cells could provide benefit to patients suffering from other orphan neurological conditions, such as Hurler's Syndrome (in the journal Cell Transplantation);
  • Recorded revenues of $2.7 million and a net loss of $3.7 million for the quarter ended June 30, 2012; and
  • Ended the quarter with $10.9 million in cash and cash equivalents.

"In the second quarter of 2012, we were focused on progress in our ongoing clinical-stage programs evaluating our proprietary cell therapy platform, MultiStem, for ulcerative colitis and ischemic stroke, while making solid headway on planning for future clinical studies," said Gil Van Bokkelen, Ph.D., Chairman and Chief Executive Officer.

"In addition, we continue our development and evaluation of novel, potent, highly selective compounds that act through stimulation of the 5HT2c serotonin receptor for the treatment of obesity and other conditions. Preclinical studies suggest that our 5HT2c agonist program may provide significantly better weight loss than competing approaches that were recently approved by the FDA, and provide a better safety profile due to superior compound selectivity.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs