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Fly News Breaks for April 21, 2015
ATHX
Apr 21, 2015 | 09:45 EDT
Maxim analyst Jason Kolbert told investors today that he remains bullish on Athersys after the company announced Friday morning its stroke trial missed the primary and secondary endpoints. Kolbert says the data show MultiStem appears to be able to extend the treatment window in stroke from a few hours to 36 hours, which he calls "dramatic." He views the data as showing a "strong signal," and added "it seems that no one wants to hear or look" at it. The analyst expects Athersys to announce plans to move forward in a Phase IIb/III global trial in the U.S., Europe and Japan. He pointed out that Maxim hopes to announce next week a series of conference calls with Athersys management and experts. Kolbert kept a Buy rating on Athersys with a $9 price target. The stock is trading down 3c to $1.32 in early trading.
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