Update: More clarity on ischaemic stroke
In its Q215 earnings release, Athersys provided much needed additionaldata with regard to its Phase II MultiStem trial in ischaemic stroke, which
had missed the primary endpoint. Changes in the trial design aimed at
accelerating enrolment led to the inclusion of patients both less likely to
respond to MultiStem and more likely to respond to standard of care. If the
original trial design had been in place, the additional data suggest the trial
may have been positive. Our fair value increases to $256m or $3.09 per
share as we increase the probability of success to 25% from 20%.
Athersys is a biotechnology company that is focused in the field of regenerative medicine. The company's MultiStem? cell therapy, a patented and proprietary allogeneic stem cell product, is its primary platform product and is in clinical development. The company's existing clinical development programs are focused on treating neurological conditions, cardiovascular disease, inflammatory and immune disorders, certain pulmonary conditions and other conditions where the existing standard of care is limited or inadequate for a number of patients. The company has a collaboration with HEALIOS K.K., to develop and commercialize MultiStem for the treatment of certain indications in Japan.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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