Athersys stroke treatment fails study, shares slide

(Reuters) - Drug developer Athersys Inc said its cell therapy failed in a mid-stage study testing it as a treatment for a type of stroke, sending its shares down more than 50 percent in premarket trading. Athersys said on Friday patients given the cell therapy did not show a significant difference from those given a placebo as measured by the Global Stroke Recovery Assessment scale. The study, which was to test the safety and efficacy of the treatment given between 24 and 48 hours after a stroke, showed that MultiStem was not better than a placebo when given after 36 hours, the company said. The company's shares fell to $1.06 in premarket trading.



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