Athersys, Inc. (ATHX) swung to a net loss for the quarter ended Mar. 31, 2017. The company has made a net loss of $5.63 million, or $ 0.06 a share in the quarter, against a net profit of $4.75 million, or $0.06 a share in the last year period.
Revenue during the quarter plunged 90.49 percent to $1.47 million from $15.46 million in the previous year period.
Operating loss for the quarter was $6.40 million, compared with an operating income of $6.71 million in the previous year period.
Bokkelen, chairman & chief executive officer at Athersys. "Recent publications and presentations continue to illustrate how we might be able to extend the treatment window for stroke patients out to 36 hours with MultiStem, beyond the narrow window for treatment that exists today, and also the important biological mechanisms that our cell therapy may provide to help patients recover from a debilitating stroke event. Stroke remains the leading cause of serious disability, yet many people are still unaware of the signs and symptoms of stroke, or the need to take action right away, and we are committed to building public awareness in this area."
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