Athersys Inc (NASDAQ:ATHX) shares are trading higher by 31.63% to $1.54 Friday morning after the company announced it entered into amended agreements to extend the exercise period of the warrants that were issued as part of a recent registered direct offering.
“We are pleased to have entered into this amendment with our new major investor which provides more financial flexibility going forward as well as a commitment for the investor that recently invested $12 million in Athersys to participate in future financings if requested,” stated Dan Camardo, Chief Executive Officer of Athersys.
“As Athersys continues to pursue licensing and other business development opportunities for our proprietary technology this amendment can help facilitate future transactions with financial and strategic investors. We are fortunate to have established a strong relationship with a prominent healthcare focused institutional investor that embraces the value of our MultiStem cell therapy and is responsive to our priorities,” Camardo stated.
“I am also pleased with progress we’ve made in our business transformation and I look forward to updating shareholders during a conference call to be held the week of October 3rd,” he added.
Athersys says the company intends to issue a separate news release that will provide further information on the date and time of the call, as well as instructions regarding how to participate.
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According to data from Benzinga Pro, Athersys has a 52-week high of $36.25 and a 52-week low of $1.13.