Best Penny Stocks To Buy [or avoid]: Athersys, Inc.
Athersys, Inc. (ATHX-Free Report) saw its first big day of trading all year. Shares of the penny stock soared to highs of $1.93 on some of its highest volume days ever. While there was no news to speak of, March will likely be a month of note for those watching ATHX stock. On March 16 the company reports its financial results for the fourth quarter and full-year 2019.
Again, this may be another example of speculation from the coronavirus. While there hasn’t been any formal announcement, the company’s pipeline could have signaled a reason for investors to take a closer look ATHX. The company currently has a Phase 2 treatment in its pipeline to treat Acute Respiratory Distress Syndrome. This can be triggered by pneumonia, sepsis, or trauma. Since COVID-19 is an upper respiratory virus, it makes sense as to why Athersys has gotten more attention this week.
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The company explains on its site that “there are limited interventions and no effective drug treatments for ARDS, making it an area of high unmet clinical need with high treatment costs. Given ARDS high treatment costs, a successful cell therapy could be expected to generate significant savings for the healthcare system by reducing days on a ventilator, days in the ICU and total days in the hospital, and importantly, could reduce mortality and improve quality of life for those suffering from the condition.”