- Shares of micro-cap biotech Athersys ( NASDAQ: ATHX ) lost 8.8% to $0.26 in Friday late afternoon trading, after the company reported a quarterly loss that was in-line with estimates and a fall in cash and cash equivalents.
- ATHX after hours on Thursday posted Q2 GAAP EPS of -$0.09 which came in-line. It made revenue of $2.32M compared to no revenue last year, comprised entirely of contract revenue from collaboration partner Healios.
- The company said its cash and cash equivalents fell to $13.4M as of quarter-end, compared to $37.4M as of Dec. 31, 2021.
- The quarter was a tough one for Athersys ( ATHX ), with its Japanese ischemic stroke study for its MultiStem cell therapy failing to meet its main goal in May.
- Following that, in June, ATHX announced that it would lay off 70% of its workforce .
- The company also named Kasey Rosado as its interim CFO last week.
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Athersys stock falls ~9% after reporting Q2 loss, fall in cash and cash equivalents