Q2/10 Results, Athersys (ATHX)
Net loss for Q/2/10 was $3.1M or $0.16 per share. Q2/10 revenues increased to $1.9M. Contract revenue increased $1.2 M primarily as a result of the collaboration with Pfizer Inc. Grant revenue increased $0.2 M due to the timing of expenditures that are reimbursed with grant proceeds. R&D expenses were $3.4 M and G&A costs were $1.5 M. As of 6/30/10, cash, cash equivalents and available-for-sale securities totaled $20.1 M.
Q2/10 Highlights:
- Announced positive top line data for the phase I clinical trial of MultiStem(R) in acute myocardial infarction (AMI);
- Advanced Pfizer collaboration to develop MultiStem, our patented, adult-derived “off-the-shelf” stem cell product platform, for the treatment of inflammatory bowel disease;
- Completed the first 2 dosing levels in the 1st arm of the phase I clinical trial for transplant support in leukemia or lymphoma patients; now enrolling patients at the third and highest dose level in this study, as well as treating patients in the multiple dose arm.
Categories: Independent Equity Research, Q2 Earnings
