Athersys is planning a stock sale to raise operating cash

Athersys Inc. said Monday that it intends to sell common stock and warrants in a public offering to raise operating capital as it pursues licensing and other business development opportunities for its proprietary technology.

For months, the Cleveland-based regenerative medicine company has been restructuring its operations and trying to raise the cash it needs to complete the testing and commercialization of its adult stem cell therapy, MultiStem.

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Story excerpt provided by Cleveland Inno.

Written by Mary Vanac.

Originally published November 7, 2022.