Athersys surges in volume after financing deal ends

Athersys

08/07/2022 13:53

** Shares of cell therapy developer Athersys Inc  ATHX.O 
spike in volume amid volatile trading; among most-active vols
across U.S. exchanges
    ** At least 2.99 mln shares have traded hands
    ** ATHX says investment firm Aspire Capital Fund LLC has
ended an equity purchase agreement with ATHX  urn:newsml:reuters.com:*:nBw3sdTrPa
    ** Co planned to sell up to $100 mln worth of shares to
Aspire over two years; co had sold 6.87 mln shares generating
proceeds of about $1.87 mln since agreement on May 12
 urn:newsml:reuters.com:*:nFWN2X42F9 (https://bit.ly/3AuRzWq)
    ** ATHX says it is evaluating alternative financing options;
also says CEO Dan Camardo has been assigned Principal Financial
Officer and Principal Accounting Officer while co searches for
permanent CFO
    ** Last month, co flagged cash crunch and restructuring that
led to resignation of CFO, COO and chief scientific officer as
well as layoffs of 70% of its employees  urn:newsml:reuters.com:*:nL4N2XQ115
    ** Executive resignations triggered end of equity deal with
Aspire
    ** ATHX down ~71% YTD through last close

 (Reporting by Ruhi Soni in Bengaluru)
 ((Ruhi.Soni@thomsonreuters.com
Twitter: https://twitter.com/ruhithere))