Athersys ATHX Stock News

Athersys Inc (NASDAQ: ATHX) is heading up in the market this morning even while overall equities are having a hard time in the premarket. The gains come after the company announced that the first clnical site for the MACOVIA clinical trial, a trial in COVID-19 patients, has opened. Here’s the scoop:

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ATHX Stock Is Up On MACOVIA Clinical Trial Opening

Athersys said that University Hospitals Clleveland Medical Center has opened the first clinical site for its trial in COVID-19 patients. During the trial, the company is assessing the clinical benefit of MultiStem therapy in COVID-19 patients with Acute Respiratory Distress Syndrome, or ARDS.

The company said that UH Cleveland is currently screening COVID-19 induced ARDS patients for inclusion in the MACOVIA clinical trial.

ATHX said that Dr. Frank Jacono, MD, Associate Professor of Medicine and Pulmonary and Critical Care Medicine at UH Celeveland and Cleveland VA Medical Center will serve as the principal investigator on the trial.

Ultimately, the goal of the trial is to show improvement in COVID-19 induced ARDS patients and reduce time on ventillators. In fact, the primary endpoint of the trial is the number of ventilator-free days through day 28 when compared to placebo. The company will also be assessing pulmonary function, mortality, tolerability, and other endpoints.

In a statement, Dr. Anthony Ting, PhD, Vice President of Regenerative Medicine and Head of Cardiopulmonary Programs at ATHX, had the following to offer:

Progressing from an FDA authorization to a site activation in just a few weeks is a tremendous achievement This was only possible due to the diligent effort performed by UH Cleveland and its dedicated staff.

Based on our prior clinical results, we are optimistic that MultiStem may be able to provide meaningful therapeutic benefits to critically ill patients with COVID-19 induced ARDS.

Why The News Is So Exciting

There are a few very clear reasons that investors are so excited about Athersys stock at the moment. First and foremost, COVID-19 continues to change the shape of life as we know it. Although we are hearing discussions about reopening areas in the United States, consumers are going stir crazy, waiting for it to be safe for that to happen.

However, in order to get things back to normal from here, consumers have to feel comfortable in the fact that they will not get sick when they leave home and that if they do, there will be treatment options. That’s where Athersys comes in.

ARDS s the leading cause of death in COVID-19 patients. Should the company’s MultiStem technology prove to be successful in this patient population, they could have a treatment for those who are most sick. If this is the case, it will prove to be an important weapon in the fight against the novel coronavirus pandemic.

Of course, that means that there’s potential for potential value growth here, making ATHX a stock that’s hard to ignore.

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