{"id":27983,"date":"2014-08-12T08:21:35","date_gmt":"2014-08-12T12:21:35","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=27983"},"modified":"2014-08-12T08:21:35","modified_gmt":"2014-08-12T12:21:35","slug":"athersys-inc-nasdaqathx-reports-net-income-of-0-7-million-in-second-quarter-results","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/athersys-inc-nasdaqathx-reports-net-income-of-0-7-million-in-second-quarter-results-27983","title":{"rendered":"Athersys, Inc. (NASDAQ:ATHX) Reports Net Income Of $0.7 Million In Second-quarter Results"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 08\/12\/2014 (wallstreetpr) \u2013 <b>Athersys, Inc. (NASDAQ:ATHX)<\/b> released the financial <a href=\"http:\/\/money.cnn.com\/news\/newsfeeds\/articles\/globenewswire\/10094083.htm\">results<\/a> of the second-quarter on August 11, 2014. It reported the net income of $0.7 million in the second-quarter as compared to the net loss of $5.9 million in 2Q2013. The net income came higher due to an increase in non-cash income. It was affected by the change in the value of the warrant liabilities. Athersys closed the second-quarter with the cash and cash equivalents of $38.8 million as compared to $31.9 million at end of December 31, 2013. The cash utilized in operating activities came at $6.1 million which was lower than the cash utilization of $6.4 million in 2Q2013.<\/p>\n<p style=\"text-align: justify;\"><b>The other financial figures<\/b><\/p>\n<p style=\"text-align: justify;\">Athersys, Inc. (NASDAQ:ATHX)\u00a0reported the net revenues at $0.4 million comparable to $0.6 million in 2Q2013. There was a decrease in the grant and contract revenues. Contract revenues are related more to the royalty, license and milestone payments from the business collaborations while grant revenues depend upon the grant-related activities.<\/p>\n<p style=\"text-align: justify;\"><b>The expenses in second-quarter<\/b><\/p>\n<p style=\"text-align: justify;\">Athersys, Inc. (NASDAQ:ATHX)\u00a0reported the R&amp;D expenses at $5.8 million comparable to $5.1 million in the prior-year quarter. The higher expenses were a result of increased personnel costs, higher research supplies and the stock-based compensation. It also included the expenses related to sponsored research. However, there was a drop in the clinical and preclinical costs. The G&amp;A expenses rose to $1.8 million as compared to n $1.6 million in the prior-year quarter. Again, the rise was associated with the uptick in the personnel costs and other stock-based compensation.<\/p>\n<p style=\"text-align: justify;\"><b>The key highlights<\/b><\/p>\n<p style=\"text-align: justify;\">Chairman and CEO, Gil Van Bokkelen said that MultiStem cell therapy and the related technologies are effective and cost-efficient. Athersys, Inc. (NASDAQ:ATHX)\u00a0is working on the multiple programs. It is excited with the progress of enrollment in its Phase 2 ischemic stroke study. It confirmed the planned initiation time of its Phase 2 acute myocardial infarction study.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 08\/12\/2014 (wallstreetpr) \u2013 Athersys, Inc. (NASDAQ:ATHX) released the financial results of the second-quarter on August 11, 2014. It reported the net income of [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":27984,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[6149,6150],"stock_ticker":[],"class_list":["post-27983","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-athersys-inc-nasdaqathx","tag-nasdaqathx","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Athersys, Inc. 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