Athersys, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 16, 2023 at 05:06 pm
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Athersys, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 0.049 million compared to USD 2.32 million a year ago. Net loss was USD 12.92 million compared to USD 23.65 million a year ago. Basic loss per share from continuing operations was USD 0.62 compared to USD 2.28 a year ago.
For the six months, revenue was USD 0.049 million compared to USD 5.23 million a year ago. Net loss was USD 20.74 million compared to USD 45.86 million a year ago. Basic loss per share from continuing operations was USD 1.06 compared to USD 4.55 a year ago.
Athersys, Inc. is a biotechnology company focused primarily on the field of regenerative medicine. The Company is engaged in the discovery and development of therapeutic product candidates to address unmet medical needs in multiple disease areas. Its MultiStem (invimestrocel) cell therapy, which is an allogeneic stem cell product candidate, is its lead platform product and is in late-stage clinical development. MultiStem cell therapy includes treatment of critical care indications, neurological conditions, inflammatory and immune disorders, certain pulmonary conditions, cardiovascular disease, and other conditions. MultiStem cell therapy is manufactured from human stem cells obtained from adult bone marrow and these cells are alternatively obtained from other tissue sources. It is conducting a Phase III clinical trial of MultiStem cell therapy for the treatment of ischemic stroke, referred to as MultiStem Administration for Stroke Treatment and Enhanced Recovery Study-2 (MASTERS-2).