Athersys shares rally on encouraging cell therapy study

Shares of Athersys Inc (NASDAQ:ATHX) shot up Wednesday after the publication of encouraging results from an exploratory clinical study of its MultiStem cell therapy, which treats patients suffering from acute respiratory distress syndrome.

Patients undergoing MultiStem treatment reported lower mortality rates and a greater number of ventilator-free and intensive-care-unit-free days in the first month following diagnosis compared to those receiving a placebo, according to Athersys.

Shares of Cleveland-based Athersys rose 13% to $1.57 in afternoon trading on Wednesday.

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Analysis of initial biomarker data also showed lower levels of inflammatory markers/cytokines following MultiStem treatment.

Patients in the exploratory study were evaluated for 28 consecutive days for the primary clinical trial and will be assessed again during a one-year follow-up period.

The study was set up to evaluate the impact of MultiStem treatment in patients with acute onset of moderate to severe acute respiratory distress syndrome. It was conducted at sites in the US and the UK.

The study included two parts. Six subjects were treated with MultiStem in the first portion of the study. In the key Phase 2a portion of the study, meanwhile, 20 subjects were treated with 900 million MultiStem cells administered intravenously while 10 subjects received an intravenous placebo. 

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Athersys will continue to evaluate the data as the one-year follow-up period is completed for all patients in the trial. The plan is to present more detailed results at a medical science conference after additional analyses.

“We believe this exploratory study met all of its key objectives and view it as an important indication of the potential relevance of MultiStem in another critical care area where there is substantial unmet medical need,” said Dr. Gil Van Bokkelen, CEO of Athersys, in a statement. “The consistent pattern of results suggesting a beneficial effect on mortality and key clinical parameters provides us with confidence that this is another condition where administration of MultiStem can have a meaningful therapeutic impact.”

Contact Ellen Kelleher at [email protected]

Story by ProactiveInvestors