Athersys, Inc. (ATHX) Stock Analysis
DELISTED 2023
What happened to Athersys, Inc. (ATHX) stock?
Athersys, Inc. (ATHX) no longer trades on public markets. It was delisted in October 2023. The figures below are historical and are not a current quote.
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Athersys, Inc. (ATHX) trades at $0.0135. Athersys, Inc. is a biotechnology company focused on regenerative medicine. Their lead product, MultiStem cell therapy, is in Phase III clinical trials for various conditions. Sector: Healthcare.
Last analyzed: May 9, 2026Analyst Coverage for ATHX: ATHX does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates ATHX against Healthcare peers across nine fundamental dimensions and assigns a neutral fundamental signal based on the underlying data.
ATHX: the 2 scored disciplines are evenly split. Dominant signal: Seth Klarman bullish.
How is this calculated? →Athersys, Inc. (ATHX) Healthcare & Pipeline Overview
Athersys, Inc. pioneers regenerative medicine with its MultiStem cell therapy platform, targeting neurological, cardiovascular, and inflammatory diseases. Currently in Phase III trials, Athersys aims to address unmet medical needs through innovative allogeneic stem cell treatments, positioning it within the competitive biotechnology landscape.
What Is the Investment Thesis for ATHX?
Athersys's investment thesis hinges on the successful development and commercialization of its MultiStem cell therapy. The ongoing Phase III clinical trials for ischemic stroke and ARDS represent significant potential catalysts. Positive trial outcomes could lead to regulatory approvals and subsequent market entry, driving substantial revenue growth. The collaboration with Healios K.K. provides a strategic advantage through shared development costs and access to the Japanese market. However, the company's negative profit margin of -1278.1% underscores the high-risk, high-reward nature of investing in biotechnology companies, where clinical trial outcomes and regulatory approvals heavily influence valuation. Investors should closely monitor clinical trial data, regulatory milestones, and partnership developments to assess the viability of Athersys's long-term growth prospects.
Based on FMP financials and quantitative analysis
ATHX Key Highlights
MultiStem cell therapy is in Phase III clinical trials for ischemic stroke and ARDS, representing potential near-term catalysts.
- Collaboration with Healios K.K. provides financial support and access to the Japanese market.
- Focus on regenerative medicine addresses significant unmet medical needs in neurological, cardiovascular, and pulmonary conditions.
- Gross margin of 100.0% indicates strong potential profitability upon successful commercialization of MultiStem.
- Negative profit margin of -1278.1% reflects the high R&D expenses and lack of product revenue typical of clinical-stage biotechnology companies.
Who Are ATHX's Competitors?
ATHX is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| MESO Mesoblast Limited | $17.49 | +2.10% | $2.27B | 65 |
| CRSP CRISPR Therapeutics AG | $58.90 | -1.52% | $5.68B | 44 |
| BLUE bluebird bio, Inc. | $4.97 | +0.00% | $48.7M | 67 |
| VRTX Vertex Pharmaceuticals Incorporated | $540.26 | -2.14% | $137B | 98 |
| REGN Regeneron Pharmaceuticals, Inc. | $835.15 | -0.68% | $86.0B | 94 |
| ALNY Alnylam Pharmaceuticals, Inc. | $229.30 | -5.49% | $30.7B | 92 |
| RPRX Royalty Pharma plc | $60.58 | -1.86% | $26.9B | 75 |
| INCY Incyte Corporation | $127.80 | -0.53% | $25.9B | 99 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are ATHX's Key Strengths?
Proprietary MultiStem cell therapy platform.
- Phase III clinical trials underway for ischemic stroke and ARDS.
- Collaboration with Healios K.K. provides financial and strategic support.
- Focus on regenerative medicine addresses significant unmet medical needs.
What Are ATHX's Weaknesses?
Negative profit margin and reliance on external funding.
- High risk associated with clinical trial outcomes and regulatory approvals.
- Limited commercialization experience.
- Small number of employees.
What Could Drive ATHX Stock Higher?
Results from Phase III clinical trial for MultiStem in ischemic stroke.
- Results from Phase III clinical trial for MultiStem in ARDS.
- Potential for new partnerships and collaborations to expand the development and commercialization of MultiStem.
- Advancement of clinical pipeline with new product candidates.
What Are the Key Risks for ATHX?
Weak fundamentals — a Piotroski F-Score of 2/9 flags soft profitability, leverage or efficiency.
- Unfavorable results from clinical trials.
- Regulatory delays or rejection of MultiStem.
- Competition from other biotechnology and pharmaceutical companies.
- Dependence on external funding to support research and development.
- Negative profit margin and limited commercialization experience.
What Are the Growth Opportunities for ATHX?
- Expansion into New Therapeutic Areas: Athersys has the opportunity to expand the application of its MultiStem cell therapy into new therapeutic areas beyond its current focus on stroke and ARDS. This includes exploring its potential in treating other inflammatory and immune disorders, cardiovascular diseases, and neurological conditions. Successful expansion would diversify Athersys's product pipeline and reduce its reliance on a single indication.
- Geographic Expansion: Athersys can leverage its partnership with Healios K.K. to expand its geographic reach beyond the United States and Japan. The European market, in particular, represents a significant opportunity for MultiStem, given the aging population and increasing prevalence of chronic diseases. Securing regulatory approval in Europe and establishing distribution channels would enable Athersys to tap into a large and growing market for regenerative medicine therapies. This expansion could be facilitated through strategic partnerships or direct investment in European operations.
- Advancement of Clinical Pipeline: Athersys's growth is heavily dependent on the successful advancement of its clinical pipeline. Positive results from ongoing Phase III trials for ischemic stroke and ARDS are critical for securing regulatory approvals and launching MultiStem in these indications. Additionally, the company should continue to invest in preclinical and early-stage clinical development to expand its pipeline with new product candidates. A robust and diversified pipeline will mitigate the risk of setbacks in any single program and enhance the company's long-term growth prospects.
- Strategic Partnerships and Collaborations: Athersys can further accelerate its growth through strategic partnerships and collaborations with other biotechnology companies, pharmaceutical companies, and academic institutions. These partnerships can provide access to new technologies, funding, and expertise, as well as facilitate the development and commercialization of MultiStem. Collaborations with pharmaceutical companies, in particular, can provide access to established sales and marketing infrastructure, which is essential for successfully launching MultiStem in the market. These partnerships can also help to share the financial burden of clinical development and regulatory approval.
- Expansion into Veterinary Medicine: Athersys has the opportunity to leverage its MultiStem cell therapy platform to develop treatments for animal patients. The veterinary medicine market is growing rapidly, driven by increasing pet ownership and a greater willingness among pet owners to spend on advanced medical care for their animals. Athersys can develop MultiStem-based therapies for common conditions in dogs, cats, and other animals, such as osteoarthritis, spinal cord injuries, and immune disorders. This expansion would diversify Athersys's revenue streams and provide a new avenue for growth.
What Are ATHX's Competitive Advantages?
- Proprietary MultiStem cell therapy platform.
- Extensive clinical trial data supporting the safety and efficacy of MultiStem.
- Strategic partnerships with Healios K.K. and the University of Minnesota.
- Intellectual property protection for MultiStem and related technologies.
What Does ATHX Do?
Founded in 1995 and headquartered in Cleveland, Ohio, Athersys, Inc. is a biotechnology company dedicated to the research and development of regenerative medicine therapies. The company's primary focus is on addressing critical unmet medical needs through its MultiStem cell therapy, an allogeneic stem cell product. MultiStem is currently undergoing Phase III clinical trials for the treatment of ischemic stroke and acute respiratory distress syndrome (ARDS), as well as being explored for trauma complications and HSC transplant support. Athersys's approach centers on leveraging the potential of stem cells to promote tissue repair and healing across a range of conditions. Over the years, Athersys has strategically expanded its clinical development programs to target neurological conditions, cardiovascular diseases, inflammatory and immune disorders, and pulmonary conditions. The company has established key partnerships to advance the development and commercialization of MultiStem, including a significant collaboration with Healios K.K. This partnership focuses on developing and commercializing MultiStem for ischemic stroke, ARDS, ophthalmological indications, and diseases affecting the liver, kidney, pancreas, and intestinal tissues. Additionally, Athersys collaborates with the University of Minnesota to further develop the MultiStem cell therapy platform. Athersys continues to focus on advancing its clinical programs and exploring new applications for its MultiStem technology.
What Products and Services Does ATHX Offer?
- Develop regenerative medicine therapies.
- Focus on treating neurological conditions.
- Target cardiovascular diseases.
- Address inflammatory and immune disorders.
- Research treatments for pulmonary conditions.
- Develop MultiStem cell therapy.
- Promote tissue repair and healing.
How Does ATHX Make Money?
- Develops and licenses its MultiStem cell therapy platform.
- Generates revenue through collaboration agreements and licensing fees.
- Focuses on research and development to advance its clinical pipeline.
What Industry Does ATHX Operate In?
Athersys operates within the biotechnology industry, a sector characterized by intense research and development, high regulatory hurdles, and significant growth potential. The regenerative medicine market, in particular, is experiencing increased attention due to the rising prevalence of chronic diseases and the limitations of traditional treatments. Athersys's focus on stem cell therapy positions it within a competitive landscape that includes companies developing cell-based therapies, gene therapies, and tissue engineering products. Success in this industry requires robust clinical trial data, strategic partnerships, and effective navigation of regulatory pathways.
Who Are ATHX's Key Customers?
- Patients suffering from ischemic stroke.
- Patients with acute respiratory distress syndrome (ARDS).
- Patients with trauma complications.
- Patients needing HSC transplant support.
Financial Health
Athersys, Inc.'s Piotroski F-Score is 2/9, a 9-point checklist of profitability, leverage and efficiency — flagging fundamental weakness worth scrutiny.
Company Profile
Athersys, Inc. operates in the Biotechnology industry within the Healthcare sector. It is headquartered in Cleveland, US. The company is led by CEO Z. Kasey Rosado. ATHX has traded publicly since 2007.
ATHX Financials
Bull Case vs Bear Case
Bull Case
- Recent insider buying indicates confidence in the company's future and potential breakthroughs in regenerative medicine.
- Community sentiment has shifted positively as discussions around Athersys' innovative therapies gain traction among investors.
- Positive news on ongoing clinical trials has sparked optimism about the company's ability to deliver effective treatments.
- Increased engagement in social trading platforms suggests a growing interest in Athersys, reflecting a bullish outlook from retail investors.
Bear Case
- Concerns over the company's cash runway have surfaced, raising doubts about its ability to sustain operations without additional funding.
- Negative sentiment has emerged from discussions regarding past delays in clinical trial results, which may affect investor trust.
- Market perception remains cautious as some analysts question the scalability of Athersys' technology in a competitive landscape.
- Recent fluctuations in community sentiment highlight uncertainty, with some investors expressing skepticism about the long-term viability of the company.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
ATHX Latest News
No recent news available for ATHX.
Leadership: Z. Kasey Rosado
Unknown
Information about Z. Kasey Rosado's background is not available in the provided context. Without additional data, it is impossible to provide details about their career history, education, or previous roles.
Track Record: Information about Z. Kasey Rosado's track record is not available in the provided context. Without additional data, it is impossible to provide details about their key achievements, strategic decisions, or company milestones under their leadership.
Athersys, Inc. Healthcare Stock: Key Questions Answered
What happened to Athersys, Inc. (ATHX) stock?
Athersys, Inc. (ATHX) no longer trades on public markets. It was delisted in October 2023. The figures below are historical and are not a current quote.
Can I still buy ATHX shares?
No. ATHX stopped trading on public markets in October 2023, so the shares are not available through a broker. Anything you see quoted for ATHX elsewhere is historical data, not a live market.
Are the figures on this page current?
No. Every number here is the last value recorded before ATHX stopped trading. Nothing on this page updates, and none of it is a current quote.
Why does this page still exist?
Because people still search for what happened to Athersys, Inc.. An archived profile that states the delisting plainly is more useful than a dead link — provided it is labelled as history, which is what this page does.
What does Athersys, Inc. do?
Athersys, Inc. is a biotechnology company focused on the research and development of regenerative medicine therapies. Its lead product, MultiStem cell therapy, is an allogeneic stem cell product currently in Phase III clinical trials for treating neurological damage from ischemic stroke and acute respiratory distress syndrome (ARDS).
What do analysts say about ATHX stock?
Analyst sentiment on Athersys (ATHX) is currently unavailable due to lack of provided information. Key valuation metrics and growth considerations are not accessible within the provided data. Without analyst reports or consensus estimates, it is impossible to provide a neutral summary of analyst opinions or potential investment recommendations. Investors should consult independent research and financial professionals for the most up-to-date analysis.
What are the main risks for ATHX?
Athersys faces several key risks inherent to the biotechnology industry. The success of Athersys hinges on positive outcomes from its Phase III clinical trials for MultiStem in ischemic stroke and ARDS. Unfavorable results or regulatory delays could significantly impact the company's valuation. Additionally, Athersys relies on external funding, which exposes it to financial risks if funding sources become limited.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Information is based solely on the provided source data.
- Financial metrics are limited to profit margin, gross margin, beta, and dividend yield.
- CEO background and track record are limited by available information.