\nAthersys, Inc. (NASDAQ: ATHX) announced today its financial results for the three months ended June 30, 2021 and provided a corporate update.\n<\/p>\n
\n\u201cWe are happy about the positive topline results for the ONE-BRIDGE ARDS study in Japan reported by Healios last week,\u201d stated Mr. William (B.J.) Lehmann, Jr., Interim Chief Executive Officer of Athersys. \u201cThe results are consistent with results from our previous MUST-ARDS trial in the United States and the United Kingdom and provide further support for the potential therapeutic benefit for ARDS patients treated with MultiStem\u00ae<\/sup> cell therapy.\u201d\n<\/p>\n \n\u201cAdditionally, we were pleased to announce new agreements with Healios to improve our collaboration as the MultiStem therapy approaches commercialization following potential regulatory approvals in Japan,\u201d added Mr. Lehmann. \u201cHealios will take on greater responsibility and investment with respect to product supply in Japan, which we will continue to support, while we deepen our focus on advanced manufacturing technologies and higher volume manufacturing. In addition, by expanding the scope of the license in Japan, we have created opportunities for both parties to realize additional returns on their investments in this innovative therapy.\u201d\n<\/p>\n \nHighlights of the second quarter of 2021 and recent events include:\n<\/p>\n \n\u201cWe continue to advance our clinical programs with a priority focus on our MASTERS-2 ischemic stroke trial and on the establishment of core capabilities and partnerships necessary for driving commercial success following approval. With important read-outs ahead of us, including Healios\u2019 TREASURE stroke study and our MASTERS-2 study, we are planning and preparing for success,\u201d concluded Mr. Lehmann.\n<\/p>\n Second Quarter Results<\/b><\/p>\n \nThere were no revenues for the three months ended June 30, 2021 compared to $0.1 million for the three months ended June 30, 2020. Our collaboration revenues currently fluctuate from period to period based on the delivery of goods and services under our arrangement with Healios.\n<\/p>\n \nResearch and development expenses increased to $17.7 million for the three months ended June 30, 2021 from $13.8 million for the comparable period in 2020. The $3.9 million increase is associated with increases in clinical trial and manufacturing process development costs of $2.6 million, personnel costs of $0.8 million, facilities costs of $0.3 million and other costs of $0.2 million. Our clinical development, clinical manufacturing and manufacturing process development expenses vary over time based on the timing and stage of clinical trials underway, manufacturing campaigns for clinical trials and manufacturing process development projects.\n<\/p>\n \nGeneral and administrative expenses decreased slightly to $4.2 million for the three months ended June 30, 2021 from $4.4 million in the comparable period in 2020. The $0.2 million decrease was primarily related to decreased stock compensation expense.\n<\/p>\n \nNet loss for the second quarter of 2021 was $22.6 million compared to a net loss of $18.4 million in the second quarter of 2020. The difference primarily results from the above variances.\n<\/p>\n \nDuring the six months ended June 30, 2021, net cash used in operating activities was $37.2 million compared to $24.9 million in the six months ended June 30, 2020. At June 30, 2021, we had $56.7 million in cash and cash equivalents, compared to $51.5 million at December 31, 2020.\n<\/p>\n Conference Call<\/b><\/p>\n \nMembers of the management will host a conference call today to review the results as follows:\n<\/p>\n\n
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