Athersys, Inc. (ATHX) Down, Maybe An Opportunity?

| January 31, 2017

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At the end of last week, Athersys, Inc. (NASDAQ:ATHX) announced a public offering that will see it distribute just shy of 20 million shares at $1.01 a share. Gross proceeds are expected to be around $20 million, meaning the company should net around $18 million on the raise. As we might’ve expected, Athersys has taken a hit on the release. With pretty much any stock issue, and especially as it relates to this end of the market (and even more so with biotechnology) there is a resultant dilution of the current shareholder base. As such, the immediate response to the announcing of a capital raise is one of negative sentiment. Companies take a hit as markets revalue their capitalization to incorporate the shares set to flood the current base.

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DIAGNOSTICS

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