ATHERSYS, INC / NEW
athersys.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q3 FY2023 10-Q, filed Nov 16, 2023. Its latest SEC filing is a 8-K from Apr 5, 2024.
10-Q for Q3 FY2023, filed Nov 16, 2023
The sections below describe the company as of the FY2022 annual report.
What Did They Do?
Develops MultiStem cell therapy for patients with ischemic stroke and other neurological, inflammatory, immune and lung conditions.
10-K for FY2022, filed Apr 3, 2023
How Did They Make Money?
License fees, milestones and product supplies bring one-time payments from Healios; service fees are earned over time. Federal and nonprofit grants pay for qualified research as the work is performed.
10-K for FY2022, filed Apr 3, 2023We recognize license-related amounts, including upfront payments, exclusivity fees, additional disease indication fees, and development…View ↗
Under our collaboration with Healios to develop and commercialize MultiStem for the treatment of certain indications in Japan, Healios has…View ↗
Grant revenue, which is not within the scope of Topic 606 for our grant arrangements, consists of funding under cost reimbursement programs…View ↗
$5.3M
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10-K for FY2022, filed Apr 1, 2023
$5.3M ↗
Who Were Their Customers?
Healios is a licensee for MultiStem and related technologies in Japan and receives clinical product and manufacturing services from Athersys.
10-K for FY2022, filed Apr 3, 2023Under our collaboration with Healios to develop and commercialize MultiStem for the treatment of certain indications in Japan, Healios has…View ↗
Did Revenues Turn Into Profits?
No. It lost $72.5M in FY2022.
10-K for FY2022, filed Apr 1, 2023
How Were They Changing?
- Net income
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Sources
10-Q for Q3 FY2023, filed Nov 16, 2023
−$3.8MView ↗
- ▼ −72% (Loss)
- vs −$13.7M in Q3 FY2022
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Apr 5, 2024
Athersys completed sale of substantially all assets to Healios
The purchase price was increased to $2,250,000, plus applicable contract cure costs.
Sources
8-K, filed Apr 5, 2024
Pursuant to negotiations during the Cases, on March 14, 2024, the Debtors entered into the First Amendment to the Asset Purchase Agreement…View ↗
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Jan 8, 2024
Athersys filed for Chapter 11 bankruptcy
The company and its subsidiaries filed voluntary petitions under Chapter 11.
Sources
8-K, filed Jan 8, 2024
On January 5, 2024 (the “Petition Date”), Athersys, Inc. (the “Company”) and its direct and indirect subsidiaries, ABT Holding Company…View ↗
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Dec 22, 2023
CEO Daniel Camardo’s departure was announced
The company expected to terminate its remaining employees, including the CEO, at year-end.
Sources
8-K, filed Dec 22, 2023
On December 15, 2023, Athersys, Inc. (the “Company”) terminated four of its employees. Effective December 31, 2023, the Company anticipates…View ↗
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Oct 18, 2023
Nasdaq determined that Athersys would be delisted
Trading was set to be suspended, with the securities removed from Nasdaq listing and registration.
Sources
8-K, filed Oct 18, 2023
On October 16, 2023, the Company received a delisting determination letter from Nasdaq advising the Company that the Panel had determined…View ↗
Shrank. Revenue fell 78% in 4 years, from $24.3M in FY2018 to $5.3M in FY2022, about 32% a year.
Narrower development focus
The older report covered ARDS, heart-attack and graft-versus-host disease studies and animal-health exploration; the latest limits current development work to stroke and a trauma study.
10-K for FY2019, filed Mar 16, 2020 10-K for FY2022, filed Apr 3, 2023In January 2019 and January 2020, we announced summary results and one-year follow-up results, respectively, from our exploratory clinical…View ↗
In addition to these programs, we had been conducting a Phase 2 clinical study for the administration of MultiStem cell therapy to patients…View ↗
Additionally, in a completed Phase 1 clinical study, we evaluated the safety, efficacy and potential for MultiStem cell therapy to prevent…View ↗
While development of our clinical programs for human health indications remains our priority, based on our research to date and work…View ↗
In addition to the workforce reductions, in an effort to conserve cash and maintain adequate liquidity, we suspended operations in a number…View ↗
Who Did They Compete With?
Competes with Mesoblast, SanBio, Vericel, Caladrius Biosciences, Johnson & Johnson, Cryo-Cell International, Brainstorm Cell Therapeutics, ReNeuron Group, Cynata Therapeutics, and Pluristem Therapeutics
10-K for FY2022, filed Apr 3, 2023Mesoblast Limited, or Mesoblast, is currently engaged in clinical trials evaluating the safety and efficacy of Revascor, an allogeneic stem…View ↗
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