Athersys (ATHX)

Business description

Athersys is a US biotech company developing MultiStem (allogeneic, bone marrow-derived stem cells). A Phase II trial with MultiStem in ischaemic stroke reports in April 2015, and further studies in AMI (Phase II) and ARDS (Phase IIa) are planned.

Share price chart

Share chart

Stock data

Market cap.US$234.3m
Last closeUS$2.92
High / Low (52 weeks)US$3.4 / US$1.1
Stock market listingUS
Forecast net cash (US$m)25.3
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & Healthcare

Price performance

%1m3m12m
Actual12.7124.6(6.1)
Relative *15.1127.6(15.8)

* % Relative to local index

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Company news

Dipping Stocks Watch List - Athersys, Inc. (NASDAQ:ATHX), TherapeuticsMD ...

Thu, 26 Mar 2015 11:37:30 GMT

Earnings Reaction History: Athersys, Inc., 60.0% Follow-Through Indicator, 4.3 ...

Thu, 12 Mar 2015 19:30:00 GMT

Maxim Sees Major Upside In These Biotech Stocks

Sat, 14 Mar 2015 18:13:39 GMT

Form 4 ATHERSYS, INC / NEW For: Mar 18 Filed by: Lehmann William JR

Sat, 21 Mar 2015 00:00:00 GMT

Surging Stocks Alert - Athersys, Inc. (NASDAQ:ATHX), Raytheon Company ...

Tue, 17 Mar 2015 11:48:45 GMT

Y/E Dec Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (c) P/E (x) P/CF (x)
2012A 8.7 (17.5) (17.1) (52.64) N/A N/A
2013A 2.4 (24.8) (24.4) (42.34) N/A N/A
2014E 1.7 (29.8) (29.4) (38.34) N/A N/A
2015E 14.2 (13.4) (13.0) (16.56) N/A N/A

Last updated on 05/03/2015

Investment summary

The development of regenerative medicines in Japan presents a significant opportunity. Athersys has just taken a major step towards accessing this key market in securing Chugai as its development and commercialisation partner for MultiStem cell therapy in Japan. Athersys will receive $10m upfront and up to $195m in milestones. Our near-term focus remains on results in April from the Phase II study in ischaemic stroke, but the Chugai deal puts MultiStem in pole position to take advantage of a new regulatory framework in Japan. We raise our valuation to $290m or $3.75 per share.

Last updated on 05/03/2015

Industry outlook

Athersys is well positioned in terms of its stage of development and the profile of its MAPCs, in terms of safety, high dose (>1bn cells), and mode of delivery (IV). The MAPCs appear to be substantially differentiated from other MSCs. Regenerative medicine is gaining traction and recognition by global regulators (eg accelerated approval pathway in Japan).

Last updated on 02/03/2015

Key management

Gil Van Bokkelen, CEO
William (BJ) Lehmann, President and COO

Company address

3201
Carnegie Avenue
Cleveland
OH 4415-26
United States
+1 216-431-9900
View website