ATHX Stock Price Increases Over 12% Pre-Market: Why It Happened

By Amit Chowdhry ● Aug 6, 2021
  • The stock price of Athersys, Inc. (NASDAQ: ATHX) increased by over 12% pre-market. This is why it happened.

The stock price of Athersys, Inc. (NASDAQ: ATHX) increased by over 12% pre-market. Investors are responding positively to the company announcing that its partner in Japan HEALIOS K.K. has released positive topline data from its ONE-BRIDGE clinical trial evaluating the safety and efficacy of MultiStem cell therapy (invimestrocel) in patients with acute respiratory distress syndrome (ARDS). 

The ONE-BRIDGE study in Japan is an open-label trial with 2 patient cohorts: 1.) With 30 pneumonia-induced ARDS subjects including treatment and registry groups 2.) With five COVID-induced ARDS subjects. 

Healios had reported favorable topline results for both cohorts relative to the registry and expectations for these patients, including the primary endpoint of ventilator-free days (VFD) and the secondary endpoint of 90-day mortality. And these data are in line with the results from Athersys’s placebo-controlled MUST-ARDS study, conducted with a similar patient population in the United States and the United Kingdom. MultiStem cell therapy (HLCM051) has been designated in Japan as an orphan regenerative medicine product for use in the treatment of ARDS.

Athersys is currently conducting its MACoVIA study — a double-blind, placebo-controlled study evaluating MultiStem administration in patients with ARDS resulting from COVID-19 and other pathogens. And Athersys’s ARDS program has received Fast Track and Regenerative Medicine Advanced Therapy (RMAT) designations from the United States Food and Drug Administration.

KEY QUOTES:

“We are excited by the results reported by our partner, Healios. We continue to believe that MultiStem administration can have a meaningful therapeutic impact for ARDS patients. We look forward to continuing to support Healios as it moves the ARDS program forward in Japan and as we make progress elsewhere.”

— William (B.J.) Lehmann, Jr., President, and Interim CEO of Athersys

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.