Athersys hits record low on flagging bankruptcy risk

Athersys

10/10/2023 15:26

** Shares of cell therapy developer Athersys  ATHX.O  tumble
50% to hit record low of 15 cents 
    ** Co says it may have to file for bankruptcy protection if
it fails to obtain adequate financing in the near-term      
    ** Says an independent data safety monitoring board (DSMB)
noted that a late-stage study testing its experimental cell
therapy to treat a type of stroke had "insufficient" number of
patients enrolled  
    ** Co is developing the therapy, MultiStem, for the
treatment of acute moderate-to-severe ischemic stroke      
    ** ATHX plans to conduct additional data analysis and pause
enrollment of new patients while this analysis is being
conducted  
    ** Including session moves, stock down ~81% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))