) shares have been on an uptrend following the release of its
third quarter 2013 results on Nov 14 after the close of market on
that day. Overall, shares are up 8.2% since the announcement.
Athersys' third quarter 2013 net loss of 10 cents per share was
narrower than the Zacks Consensus Estimate and the year-ago loss
of 12 cents per share each, benefiting from higher number of
Revenues in the third quarter of 2013 came in at $0.6 million
compared with $1.0 million a year ago. The massive year-over-year
decline was attributable to a reduction in contract revenues.
Revenues in the third quarter of 2013 fell short of the Zacks
Consensus Estimate of $2 million.
Athersys is developing MultiStem for ulcerative colitis in
). A double-blind, placebo-controlled, phase II trial is ongoing
with initial results expected in early 2014. MultiStem is also
being evaluated for ischemic stroke (phase II, enrollment ongoing
with initial results expected next summer). The company is
preparing to initiate a phase II study on MultiStem for the acute
myocardial infarction indication and a phase II/III for
Research and development (R&D) expenses for the third quarter
of 2013 increased 14.2% to $4.7 million, driven by preclinical
development costs, patent related fees, personnel costs and stock
based compensation expenses. General administrative expenses at
Athersys climbed 34.4% to $1.5 million in the third quarter of
2013. Higher stock-based compensation expense led to the
Athersys carries a Zacks Rank #3 (Hold). Stocks such as
) currently look more attractive with a Zacks Rank #1 (Strong
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