Why Athersys Stock Jumped Today
Shares of Athersys (NASDAQ: ATHX) were jumping 11.2% as of 3:30 p.m. EST on Monday. The solid gain came after the company and the University of Texas Health Science Center at Houston announced the enrollment of the first patient in a phase 2 clinical study evaluating the company's MultiStem cell therapy as a potential early treatment for traumatic injuries.
The enrollment of one patient in a phase 2 study doesn't always cause a biotech stock to jump. But there are some reasons that investors were especially excited about Athersys' announcement.
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Source Fool.com