Print page
Email page
Download PDF
« Previous Release | Next Release »
Fourth Quarter and Recent Highlights:
"
"The proceeds from the recent equity financings will help us advance our promising clinical programs further into the development process, and also provide support for our ongoing partnering activities," concluded Dr.
Fourth Quarter Financial Results
Revenues for the three months ended
2011 Annual Financial Results
For the year ended
Conference Call
As previously announced,
| Date |
|
|
| Time |
|
|
|
Telephone access: U.S. and |
800-273-1254 | |
| Telephone access: International | 973-638-3440 | |
| Access code | 61213552 | |
| Live webcast | www.athersys.com, under the Investors section | |
A replay will be available for on-demand listening shortly after the completion of the call until
About
The
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. These forward-looking statements relate to, among other things, the expected timetable for development of our product candidates, our growth strategy, and our future financial performance, including our operations, economic performance, financial condition, prospects, and other future events. We have attempted to identify forward-looking statements by using such words as "anticipates," "believes," "can," "continue," "could," "estimates," "expects," "intends," "may," "plans," "potential," "should," "suggest," "will," or other similar expressions. These forward-looking statements are only predictions and are largely based on our current expectations. A number of known and unknown risks, uncertainties, and other factors could affect the accuracy of these statements. Some of the more significant known risks that we face that could cause actual results to differ materially from those implied by forward-looking statements are the risks and uncertainties inherent in the process of discovering, developing, and commercializing products that are safe and effective for use as human therapeutics, such as the uncertainty regarding market acceptance of our product candidates and our ability to generate revenues, including MultiStem for the treatment of inflammatory bowel disease, acute myocardial infarction, stroke and other disease indications, and the prevention of graft-versus-host disease. These risks may cause our actual results, levels of activity, performance, or achievements to differ materially from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking statements. Other important factors to consider in evaluating our forward-looking statements include: our ability to raise additional capital; final results from our MultiStem clinical trials; the possibility of delays in, adverse results of, and excessive costs of the development process; our ability to successfully initiate and complete clinical trials; changes in external market factors; changes in our industry's overall performance; changes in our business strategy; our ability to protect our intellectual property portfolio; our possible inability to realize commercially valuable discoveries in our collaborations with pharmaceutical and other biotechnology companies; our ability to meet milestones under our collaboration agreements; our collaborators' ability to continue to fulfill their obligations under the terms of our collaboration agreements; our possible inability to execute our strategy due to changes in our industry or the economy generally; changes in productivity and reliability of suppliers; and the success of our competitors and the emergence of new competitors. You should not place undue reliance on forward-looking statements contained in this press release, and we undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise.
(Tables Follow)
|
|
|||
| Condensed Consolidated Balance Sheets | |||
| (In thousands) | |||
|
|
|
||
| 2011 | 2010 | ||
| (Unaudited) | (Note) | ||
| Assets | |||
| Cash, cash equivalents and available-for-sale securities | $ 12,784 | $ 15,181 | |
| Other current assets | 1,622 | 2,763 | |
| Equipment, net | 1,267 | 955 | |
| Other long-term assets | 28 | 207 | |
| Total assets | $ 15,701 | $ 19,106 | |
| Liabilities and stockholders' equity | |||
| Accounts payable and accrued expenses | $ 4,280 | $ 3,297 | |
| Deferred revenue | 3,140 | 6,804 | |
| Warrant liability | 983 | -- | |
| Total stockholders' equity | 7,298 | 9,005 | |
| Total liabilities and stockholders' equity | $ 15,701 | $ 19,106 | |
|
Note: The Condensed Consolidated Balance Sheet Data at |
|||
|
|
||||
| Condensed Consolidated Statements of Operations | ||||
| (In thousands, except share and per share data) | ||||
| (Unaudited) | ||||
| Three months ended | Twelve months ended | |||
|
|
|
|||
| 2011 | 2010 | 2011 | 2010 | |
| Revenues | ||||
| Contract revenue |
|
|
|
|
| Grant revenue | 262 | 1,162 | 1,329 | 2,254 |
| Total revenues | 2,565 | 3,332 | 10,344 | 8,939 |
| Costs and expenses | ||||
| Research and development | 5,570 | 4,210 | 18,930 | 14,779 |
| General and administrative | 1,195 | 1,138 | 4,916 | 5,387 |
| Depreciation | 76 | 68 | 278 | 284 |
| Total costs and expenses | 6,841 | 5,416 | 24,124 | 20,450 |
| Loss from operations | (4,276) | (2,084) | (13,780) | (11,511) |
| Interest income | 7 | 35 | 85 | 203 |
| Other expense, net | 17 | (2) | (51) | (69) |
| Net loss |
|
|
|
|
| Basic and diluted net loss per share |
|
|
|
|
| Weighted average shares outstanding, basic and diluted | 24,049,035 | 18,930,678 | 23,239,019 | 18,929,749 |
CONTACT: William (B.J.) Lehmann , J.D. President and Chief Operating Officer Tel: (216) 431-9900 bjlehmann@athersys.com Investor Relations:Lisa M. Wilson In-Site Communications Tel: (917) 543-9932 lwilson@insitecony.com
News Provided by Acquire Media
