Athersys's stock shoots up after FDA OKs study for COVID-19-induced respiratory distress treatment [MarketWatch]
Athersys, Inc. (ATHX)
Last athersys, inc. earnings: 11/6 04:05 pm
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Source: MarketWatch
Shares of Athersys Inc. shot up 26.5% in premarket trading Monday, after the company said it has received Food and Drug Administration authorization to start a phase 2/3 trial to assess safety and efficacy of its MultiStem therapy on patients with COVID-19-induced acute respiratory distress syndrome (ARDS). The biotechnology company said it plans to open the first sites for recruitment of the study this quarter. ARDS is the leading cause of death among COVID-19 infected patients, according to the World Health Organization (WHO). "Since MultiStem is not virus- or pathogen-specific, we believe it has the potential to treat ARDS that develops from a variety of causes, including COVID-19, as well as other pathogen-induced or non-infectious causes of severe lung inflammation leading to ARDS," the company said. The stock has more than doubled (up 120.5%) over the past three months, while the S&P 500 has lost 15.2%.
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