Athersys Jumps More Than 20% After FDA Approves MultiStem Coronavirus Study [Yahoo! Finance News]
Athersys, Inc. (ATHX)
Last athersys, inc. earnings: 11/6 04:05 pm
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Source: Yahoo! Finance News
Shares in Athersys, Inc. (ATHX) soared more than 20% in U.S. premarket trading after the biotech company announced that it was granted approval by the Food and Drug Administration (FDA) to start a pivotal clinical study of its stem-cell therapy on patients with COVID-19-induced acute respiratory distress syndrome (ARDS).Following the FDA approval, Athersys said it plans this quarter to initiate a phase 2/3 pivotal study to determine the safety and efficacy of its MultiStem therapy in coroanavirus patients with moderate to severe acute respiratory distress syndrome. The study conducted among 400 individuals will be administered at leading pulmonary critical care centers throughout the U.S., the company announced. According to the World Health Organization (WHO) and other recent clinical and epidemiological data, ARDS is the leading cause of death among COVID-19 infected patients.“We believe that MultiStem treatment, by modulating patients’ hyperinflammatory response to highly pathogeni
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