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Fly News Breaks for April 17, 2015
ATHX
Apr 17, 2015 | 11:04 EDT
Piper Jaffray says that while Athersys's Phase II MultiStem stroke trial missed both the primary and secondary endpoints, it sees an opportunity for the company and Japanese partner Chugai to continue to develop MultiStem in stroke. Piper points out that when the analysis was restricted to patients receiving MultiStem within 36 hours, the response was "substantially improved" on the primary endpoint and proportion of patients achieving an "excellent outcome." It halved its price target for Athersys shares to $2 from $4 but keeps an Overweight rating on the stock. Athersys is down 87c to $1.31 in morning trading.
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