Maxim Group’s healthcare analyst Jason Kolbert weighed in with a few insights on Athersys, Inc. (NASDAQ:ATHX), after the company held a comprehensive call with Stroke trial investigators, Dr. David Hess, stroke specialist and Chairman of the Department of Neurology at the Medical College of Georgia at Georgia Regents University, and Dr. Lawrence Wechsler, Professor of Neurology and Chair of the Department of Neurology at the University of Pittsburgh.

Kolbert noted, “Gil Van Bokkelen PhD, CEO again reviewed the data, but highlighted that the comparison of stroke size, location and deficit were in fact balanced between the sub-group comparisons (24-36 hour groups). This was a key finding as the skeptics has claimed that Athersys selected favorable data in the post hoc-analysis. Not true!”

“Those patients who received both TPA and were mechanically re-perfused recovered much better when they received saline injections (placebo). That makes no sense and suggests an anomaly in the data. When this group is excluded the data becomes normalized.”, the analyst added.

Bottom line: “We see a strong signal at 24-36 hour window. We expect to see Athersys announce plans to move forward in a PIIb /III global trial in the US, EU, and Japan.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a total average return of 2.6% and a 40.1% success rate. Kolbert has a -18.6% average return when recommending ATHX, and is ranked #1224 out of 3587 analysts.

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