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Here's Why Athersys Rose 26.5% in May

TheMotleyFool

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Shares of Athersys (NASDAQ: ATHX) rose over 26% last month, according to data provided by S&P Global Market Intelligence. The stem cell stock's movement in May can primarily be described as a recovery from a lousy April, but two business updates certainly helped.

In the first week of May, Athersys announced the U.S. Food and Drug Administration (FDA) had authorized the initiation of a phase 2/3 trial in COVID-19-induced acute respiratory distress syndrome (ARDS). The development was followed by additional business updates packed into the discussion of first-quarter 2020 operating results. That was enough to fuel the ascension of this small-cap stock -- for now.

Image source: Getty Images.

Source Fool.com

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