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In: Press Releases

Press Releases

For Immediate Release

April 20, 2020

SAN DIEGO, CA – WBB Securities acted as co-manager for a transaction on April 16 for Athersys, Inc., Gross proceeds to Athersys from the offering are approximately $57.6 million, before deducting the underwriting discount and estimated offering expenses.  Athersys intends to use the offering’s net proceeds for general corporate purposes, including funding toward its acute respiratory distress syndrome (ARDS) clinical program, which includes initiation of the Phase 2/3 pivotal “MACOVIA study” for COVID-19 induced ARDS patients, working capital and its process development and manufacturing projects. The offering consisted of 25,587,500 common shares of Athersys common stock with par value of $0.001 per share at a price to the public of $2.25 per share.  Included were 3,337,500 shares of Common Stock pursuant to the Underwriters’ option to purchase additional shares, which the Underwriters exercised in full on April 16, 2020.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.


About WBB Securities

WBB Securities is a leading investment banking, investment management and equity research firm in the healthcare field. Established in 2001 with headquarters in San Diego, California and offices in the metropolitan New York area. WBB Securities is a registered independent broker dealer and investment advisor with proprietary trading desks that have market-making capabilities.

WBB Securities maintains an investment banking, equity research, and asset management practice focused exclusively in the life sciences niche.  The firm also has built a nationwide team of respected senior investment and research professionals with a network of branches throughout the U.S. serving institutional and high net-worth clients.  www.wbbsec.com


About Athersys, Inc.

Athersys is a biotechnology company engaged in the discovery and development of therapeutic product candidates designed to extend and enhance the quality of human life. The company is developing its MultiStem® cell therapy product, a patented, adult-derived “off-the-shelf” stem cell product, initially for disease indications in neurological, inflammatory and immune, cardiovascular and other critical care indications and has several ongoing clinical trials evaluating this potential regenerative medicine product. Athersys has forged strategic partnerships and a broad network of collaborations to further advance MultiStem cell therapy toward commercialization. www.athersys.com