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Why Athersys Stock Jumped Today

TheMotleyFool

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Shares of Athersys (NASDAQ: ATHX) were jumping 10.9% higher as of 3:17 p.m. EDT on Wednesday. The solid gain came after the company announced that its partner Healios completed enrollment in a clinical study being conducted in Japan evaluating regenerative stem cell therapy candidate MultiStem in treating acute respiratory distress syndrome (ARDS) caused by pneumonia.

Completion of enrollment in a clinical study doesn't always serve as a catalyst for biotech stocks. In this case, though, investors seem to be optimistic that Healios' study will be positive and that Athersys will also be successful with its own study of MultiStem in treating ARDS.

Image source: Getty Images.

Source Fool.com

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