By ST Staff
5:45 AM UTC
Athersys, Inc. (ATHX) stock saw a more push in today’s pre-market trading session after the spread of the news that Athersys partner HEALIOS K.Khas completed the enrollment in the ONE-BRIDGE study in Japan. ATHX stock price saw an uptrend of 3.66% to reach $1.70 a share at the time of this writing. ATHX stock seemed green at the previous trading session and closed with a 1.86% gain. Let’s understand the current happenings.
One Bridge Study suggests the evaluation of the MultiStem® (invimestrocel) in patients who are suffering from acute respiratory distress syndrome (ARDS) which is mainly caused by pneumonia. One Bridge study comprises two patient groups. One group includes 30 patients who are suffering ARDS due to pneumonia. The second group consists of 5 patients suffering from ARDS due to COVID-19. The main objective is to compare the results of the safety and efficacy of Multistem treatment in both groups.HEALIOS will analyze this data after the follow-up period and then further announce the results.
Athersys is conducting its study named MACOVIA in the united states in order to analyze the results of Multstem against the treatment of COVID-19 induced ARDS patients. One thing is to remember that FDA had given both Fast Track and Regenerative Medicine Advanced Therapy approval to the ARDS program.
ATHX announced its fourth quarter and fiscal year 2020 results in which ATHX stock generated $1.3 million in the last three months of 2020 as compared to the same period in 2019 while full-year revenue decreased to $1.4 million as compared to $5.6 million revenue in 2019.R&D expenses increased significantly to $18.7 million in the fourth quarter of 2020 as compared to $7.6 million in the prior year while overall R&D expenses for the full year 2020 reached $63 million as compared to $39 million in 2019. General and administrative expenses of ATHX stock were $4.3 million in the last three months while these were $15.9 for the full year of 2020.
As of December 31, 2020, Athersys stock had 51.5 million in cash and cash equivalents while these were $35.0 million on December 31, 2019.
It seems that momentum was already built for ATHX stock in the previous trading session and recent news of ATHX stock has added more hype to it. The earnings report suggests that Athersys contract revenue from its collaboration with Healios has decreased over the year, but operational expenses show that ATHX stock has progressed over the year. In a nutshell, investors should analyze ATHX stock both fundamentally and technically.