ATHX - Earnings call transcript Q4 2017

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Operator

Good afternoon. My name is Erica and I'll be your conference operator today. At this time, I would like to welcome everyone to the Athersys' Fourth Quarter Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. you. Thank Instructions] [Operator Ms. may conference. you begin Campbell, your Laura

Laura Campbell

Thank Senior Athersys. Vice good afternoon, Thank Laura Campbell, everyone. I'm President for today's you joining and you call. of Finance for

materially as to of our call's replay important we subsequent press outlook access not hours BJ forward-looking our be will and and Van it under information approximately may the indicated is results call filings. President of conclusion statements replay anticipate two via differ to call. corporate Operating and about for on make today's forward-looking press Litigation may SEC Executive may will also for Any the for do and to If Chief you XX release. XX-K Harbor our of The Securities host athersys.com, website receive We available Bokkelen, Act e-mail. available Officer and statements XX-Q, minutes, expectations, A Chief a and developments Celesnik cause will may Officer; question-and-answer purposes close change. Reform market, also at will I it future after those call prospects that the available the last Lehmann, XX is the expected provision update. Safe Forms events follow XXXX. including the Matt plans, those be constitute you Chairman of and to athersys.com. and a Actual release have at be by issued Gil various today's in of or accessed Athersys' Dr. that copy session XXX-XXX-XXXX our in may at at result remarks from the factors, disclosed other public the is Private that

any forward-looking to these so. to we the in future, at elect specifically may we While point obligation some disclaim do statements update

March call please discussed, be recorded was made For related recent to topics Since most then, we this may our replay, SEC and have may the on releases held so XX the benefit reference of of and announcements listening the press filings. those XXXX. to who

quarter update Now, financial the Gil corporate by then and question-and-answer annual our to turn I'll for period. briefly call the and followed a over review results fourth XXXX

our the quarter for XXXX. XXX,XXX, revenues were fourth For of the XXXX, to contract period XXX,XXX compared of same

We expect any RTI collaboration revenues from associated to with of potential comprised royalty and future our proceeds potential payments contract revenues new with and primarily our Healios, commercial from milestone collaborations. be payments Surgical,

grant fluctuate and the year. December of Our net quarter. the activities of was prior After the net to grant process in the quarter the XXX,XXX to Grant XX.X expiration of development related this with compared million costs, from million intellectual three quarter a XXX,XXX increased were X.X the of stock X.X expense expenses we XXXX ’XX of important Garnet increased relatively which based grants. longstanding and last non-cash of consistent period XX, of clinical timing to in expenses Research difference X.X fourth of revenue primarily million the on a XXXX BioTherapeutics underway, this million months pre-clinical compared quarter manufacturing increased Athersys’ settlement to XXXX. was the of and loss to trials It's fourth from fourth the We XX.X resolve to in remaining and issuance fourth to in in year’s and XXXX XXX,XXX and with revenues in to factoring activities. at and related from the award period expensed million General of as to of fourth amount, in note license fourth the and dispute. to X.X that ended of as million quarter XXXX, due the non-recurring X.X and development property charge, agreement respectively. charge million and Furthermore, a part license settlement $X.X with quarter a for loss of clinical administrative the development XXXX same million had million period for one-time agreement. period X.X period vary in the

previously, this X.X related As with stated the increase million the was fee to due license agreement to expense of one-time Garnet.

liabilities. a had gain warrant in no corresponding a non-cash of or XXXX. in expired from of fourth X.X quarter early our either million warrants XXXX fair since quarter change We XXXX activity in exercised the in warrant fourth the We value the the were also had

and administrative sponsor decrease to X.X General supplies research the year and million Japan, the primarily Research proceeds the XXXX. spending contract on RTI million in $XXX,XXX of XX.X from to variance legal Japan, [ph] by increased X.X XXXX, increase December due non-cash, Healios. in in offset million the factoring costs payment increase professional million increased the XX.X million Healios a XX.X this was or these XXXX in $XXX,XXX primarily After to relates million of difference milestone gain The whereby from personnel following. and million increased of expense other with other $XXX,XXX in Healios December To were the million X.X $XX fee stroke million Cash and and in X.X from the in our The million XXXX liabilities service in million approximately Net Garnet results XX.X million in for research reduced XXXX. expired XX, XX a from charge activities one-time in partially full XXXX XXXX warrant year, $XXX,XXX $XX.X in to ended and was in and XXXX million Garnet compared the with account million either services. related was in described for $XX XXXX, million ’XX loss XX.X exercised XXXX. of million revenue revenues which and into X.X collaboration XXXX. $XXX,XXX This referred which and to and XXXX value XXXX of year to related the were our sizable January XXXX XXXX recap, the in in X.X XXXX revenues $X.X X.X development year for of the from to collaboration Turning and manufacturing from X.X agreement million used reflects non-recurring fee million license stroke expenses operational collaboration in the of X Healios of XX, variances warrants XXXX was full $XX in and for payment expenses operating and in million Surgical research flood XXXX in XX.X development and respectively. the of were to relatively license in fair variances the a insurance proceeds to respectively, ended earlier, previously. at XXXX year million our million early takes and consistent from damage full discussed. for and Grant the year-over-year primarily the in expenses from

December had compared cash XX.X December of XXXX, to and cash XX.X million we equivalents in As XX, at XX, million XXXX.

turn a additional which Gill our describe sheet. an Gil? that, collaboration balance next, expansion we update. corporate to Healios Gil As to announced like this for to With the capital our to provide I’d also will morning over call will

Gil Van Bokkelen

Thanks Laura. afternoon, call Good today. everyone. joining the Thanks, for

the announced we've recently, During achievement earlier made today, key towards goals. our the significant we progress fourth of quarter and some more as

recent position ischemic is stroke, evaluating initiation Japan, Japan in trial call, Healios last MultiStem evaluating partnerships clinical and and will to study of MultiStem our financial the a America the conduct which media been the evaluate awareness critical the solid Europe, ischemic of to pivotal new need. for TREASURE These financial activities the preparing to investor our of strengthening of in through a balance strengthen achieving company Phase cells in clinical relations, said overarching to X successfully substantial earnings and supporting capabilities. relations therapy we establish as are the position, developing have Athersys with in corporate stroke advance goal and our patients areas establishing building As innovative our in to the address suffered and maintaining biopharma administration administration portfolio therapies our priorities communications collaborations potential and patients and have unmet of an MASTERS-X our leading and programs, of that trial, by expanding the North our sheet that to objectives

focus As have intent were we heavily I recent mentioned on collaboration expand our potential earnings evaluating significantly to a has letter today, on we of and collaborative Healios. binding in call commercialization been November, development and our announce the with last that entered into Earlier concentrated activities. pleased partnering existing to

TREASURE design time, investment Japan at study. the connection In XX collaboration MultiStem began initial treatment equity Our yesterday's Healios the expansion, develop to registrational that trial closing Healios a $X.XX via closely we our of with on envisioned XX% worked per share and in with ongoing the Japan. common price. of launch million million Healios XXXX price is stock, as of a And have of license in for ischemic of their and the stroke a purchase in shares a reflecting with referred premium the to $XX.X to making since

on basis Japan, license license license escrow addition, additional over indications represents next for rights. in related obtain bud that In a a a MultiStem disease global weeks. of are to for the April develop to their other the trauma and to work expansion million respiratory by to to treatment actively account acute us, for as of into collaboration in and agreement terms deposit among and the and a that use or including fee the intend MultiStem an ARDS ophthalmological an would the finalize $XX working XX, indications of we MultiStem well broad expanded guaranteed we develop while organ several distress specific collaboration will certain Under Healios agreements as the exclusive expansion on complete Healios payment syndrome for to organ technology

and are combination is exclusive the payments, option April a by the in develop required the occur option to million guaranteed agreement into the XX, pay a option of payments its In over China becomes or exchange initial stroke, the license and Healios payment million which to each in in by also terminated license payments on abrogated trauma be basis. trial, not China. we million Athersys payments although Healios of If $XX for payments $XX royalties against a These broader and license funding from the Once could license China. and rights, ARDS for agreement Healios would the in obligation licenses China, May to under escrow in and enter required paid would time. million and option the profit for indication XXXX credit account, the fees. $XX exercise additional as due broader quarterly from in or expansion treatment milestone trauma And quarterly MultiStem including the payment for obtain any to would execution Healios these installments Ischemic milestone a Athersys by for a used be TREASURE collaboration the X, reflecting is and nonrefundable, option broader in in Importantly, include for collaboration elects payment the documents, license payments of effective license may which fees, certain the license ARDS for receive an share be and following or associated otherwise MultiStem of result stroke, expansion or and commercialize thereof upon collaboration expansion an fees, collaboration the $XX the escalating Japan.

such moment ARDS, the if the for escrow. a for and be of conjunction execution of or the addition fund license of XX, certain associated is buds collaboration the investment, a with to required As organ with LOI to payments expanding on of $XX for MultiStem the executed moment indications to agreement XXXX, the the in of the agreement either is described as in the include ophthalmological LOI, will under the released payment scope in expansion organ as That and before equity portion diseases. portion of I not execution the into to Healios April broad ago Athersys use Japan binding the or current $XX amount million million initial noted ago,

narrower escalates the to initial the effective In is Healios in addition warrant its Healios for Athersys’ right, but million recently is clear may the the of floor established license respect sufficient conduct a not expertise to with will to and importantly, Furthermore, is rapid, this this obligation key of purchase and purchase cap Japan expand they certain but the just acquire XXXX effective greater in stock. transaction see that that be additional stock Healios opportunities on conditions limitations, fixed as price our to expansion potential also us a competitive trial. our price to meaningful access with accelerate and warrant X, XX.X% MultiStem it collaboration other September commitment, multiple execute and It shares conditions term warrant of Athersys will time efficient develop to From signal indications A becomes over it and our exercise as on shares and based that that puts regenerative in if warrant The global a I under price Perhaps in other receive transaction the of including if the is mutual of price. to shares ability important shares ARDS respect provides have XXXX in exercisable to subject the is stock strong common an cost to becomes of agreement. current fail framework. total development where provides exercised also a position common market capital programs investment, shares a to with XX alignment. in that of the other give license minimum of then will of there respect a and of MASTERS-X warrant implemented the during position. under the medicine the only until Healios equity for a manner floating number goal development a including a common the strong perspective, initiatives, certain April, with not Athersys’ the Japan of we implemented and broader and outstanding and through the mentioned collaboration TREASURE us to

as Healios be for had collaboration years, election in as equity our accomplishments. of record election with subject Having XXXX. Hardy pleased into to of agreement if and to is the especially the CEO April, joining visionary highly shareholders, board Athersys nominated stockholders' would the Hardy Board he leader effective expansion will outstanding CEO Directors We scheduled directors to Dr. in of Healios of opportunity I work our with the to several a meeting by pleased are Kagimoto, of regard be part to at past next a the announce that of that entered investment, I'm be an over track him annual June

mentioned, move now in organizationally. additional level this move I summary, through and our alignment capital million meaningful resources Healios. in Athersys throughout provide XX.X of our us a is which substantial will with collaboration to visions expansion I strongly position. with information with are over As additional Healios commitment guaranteed weeks at organizational broader as provide strong collaboration earlier our of and enables announcement aligned, expansion Athersys the the to both with believe forward investments regards payments In the of and shareholder the leadership potential Healios a and perspective, financial Athersys stronger to enactment $XX.X for of today, million to even the meaningful and We’ll and between with these shareholders the equity companies. coming activities From forward we an complete establishes the it time confidence with

in the and collaboration, Healios clinical regarding TREASURE progress has further the additional been enrollment addition In the with with progress an our of expansion patients there our of of to sites. trial addition

a we as as commitment to there soon conveyed and of possible. completing previously, Healios enrollment the the As have is strong trial

as issues patient analyzed, months TREASURE we subsequently the and top the our shareholders of Lonza, February available Healios line placebo. to after the the and with sometime of approval data the timetable complete experienced the call, would will several results of manufacturer collected, for After suspension and the basis the be provide impact year for for enrolled earnings trial XXXX the due know, reflect the of fall the during enrolment and to assessed to trial the last their be a our manufacturing trial be the completion As already then adjusted intend temporary been some in the visit. PMDA. incorrect to last formulation last they at of contract To the the clear, has of their anticipate, verified are organized, line and hope will top results data submission we If XX-day is announced. line they top Healios

a a be the year and will of Some a of have approval. of for full our or shareholders results in evaluation been the confused the the patients for fact the that announcement by trial timing that what might on one potential impact year of have bit submission evaluated

data So to MultiStem a in double will the time, blind following or year patients evaluated MASTERS-X XX-day conditional basis they in during assessment submission as placebo received successful. whether These their the a nor endpoint either will patients was a is physicians primary manner for provide to neither be of the the study. or know full or clinical PMDA for and results if will while primary case will provide the that trial clarify, previously, for the enrolment the the approval basis the trial full for

until year the will evaluation approximately study the process that enrollment has the year continue expected projected of last is patient the the this trial one one While Healios and for in latter to earlier beyond will for analysis three part of data. and more primary final XXXX, collection, results the month the eight approximately verification several be visit the months available weeks from the then of TREASURE following trial and the continue

remained we challenges, keys is and in of That was and that result productive serves to the experienced to partnership. Throughout important issues also it our year, and of mutual a the to While Healios underscore are and decision needed necessary to strong as as obstacles led these a last this we one point. adjustment fully an address we the issues to aligned. coordinated and we’ve manner expand alignment work

also team with as of need Healios another area other is which to in engage PMDA in additional indications ARDS, common clinical of with few past Over unmet regarding the such the interest, considerable weeks, worked we've interactions Japan.

such As and well our the in results in believe gained of US we positioned the the that we're is from for ARDS will study already with the we Healios engaged effectively the subsequent to process. experts approached of the Healios and and that and engaging completion clinical knowledge conducted PMDA a Japan. that trial we trial preparing trial assisting them in in apply are has UK, actively ongoing by here be key a ongoing

Another is area interest in trauma. of common

the could Over MultiStem multiple with from trauma, the working years, that several past few groups, published reflecting be a in independent range studies leading we area. beneficial in research specifically models, how of neurological illustrate damage have

or Some individuals the the and members the The is or the and of for US it can million that three X disability XXX,XXX to traumatic hospitalizations. are related year for the the disability living most a -- third noticed more in reports are that each bleeding the being million inflammation response shock associated with people treatment well complications Among Disease of TBI three disability remaining US estimated more and and its XXXX, military. but cost swelling acute damage inflammatory tissue Of each especially that as and with visits XX% XXX,XXX TBI. CDC rate indicate $XX.X the serious injury injury the result collaborators thromboembolic suffer of respiratory company in among in young TBI that due failure, include to XX% systemic and complications, evaluated, department others of billion Centers X.X trauma. at the which death US kidney neurological secondary the recent infections. people our injury, over poor disease, leading inflammatory people After well from follow XX,XXX clotting of from TBI accounts it’s than and more relevance the in occur people injury, TBI in deaths blood or of X organ cause an in of syndrome trauma CDC, serious serious estimated initial Control for there of syndrome, suffer living in XX,XXX year million acute closely resuscitation. than deaths brain an disability, fatalities as of significant related as death -- and emergency that cause According multiple ARDS, year. immune for the US to trauma is related days, were broadly this after in trauma distress approximately and as the venous a first cause a are the vessel or after age the leading death annually. at a of and low, uncontrolled steady and cause under primarily leading of These potential occur XX days

end the cell injury. of X US plans one with soon evaluating severe with agencies and with therapy that announce the prevention provided initial funding after the the one the traumatic injury, including that Our it has both well treatment damage blood of collaborates the following as the as and of occurs complications for and we multiple and preclinical to the of injury MultiStem various believe working Athersys’ in new and in reduction cells, types complications the Phase of participating considerable We protection leading for data traumatic promote will independent consistently healing tissue cascade early such kidneys. center. and to the centers field experts inflammatory from inflammation mitigates Accordingly, to following causes clinical other the of as trauma in indicates recruitment that the level of ways, and organs to leading vessels of administration MultiStem cell potential repair and MultiStem stimulation respond and trial, conduct trauma support damage signals of injured consortium government lungs tissue the

work another earlier, support to our in development area included institutions This various expansion and part ability collaborators I be to work initiatives. collaboration as indications partners of as successfully of clinical followed our focused that to and funding is with trauma the serves pre-clinical the and would illustration described secure the As one with closely. Healios of as has who

another earlier, a as we've that been to Laura from a done some received This objective mentioned of minutes shareholders our we've me described sheet questions weeks. of ago, few maintain leads has in As some just to and that. the key recent solid balance

it financing we to vehicle or names obligation we've to last want effect, Aspire form choose many intent In each the backstop whenever questions could sell questions to additional the to, We use of received not The an the policy. I'm to if is that question, associated asked around, provides a sheet. and representative we answers. I so we vehicle from healthy it feel we're that we significance insurance whenever a can but shareholders the no balance in this shares recently need that of have call, Several yet. with under and people significance form maintain present is the going of facility whether to. the we Aspire time the Although of and have about corresponding a simply announced utilize Aspire vehicle used the

Over of the avoid balance maintain dilutive facility financing. an sheet we've quarters, stable prior to and past the a used the excessively doing several risk

$X shareholders appreciate appreciate thanked no. us have which is the Some the $X answer shareholders Aspire Other yet. have made of the upfront and new proactive asked investment, the we whether Other used per share, Aspire’s million that. steps that we interest protect have to than was their importance of taking our and recognize and at own our for and vehicle

used not it. have We

an to whether we Board we conduct Other or the feel no Our a the use plans asked banker given vehicle. no. financing. engage always or is to have investment but planning the no circumstances, intention option are retains is do to whatever immediate answer even appropriate, have rights shareholders financing or we an whether The we the currently institutional immediate such

immediate do We as such have always, it whatever board reserves to the our shareholders. term serve prudent conduct the appropriate financing, interest a feels is to to the right and of no plans but

comments, regards progress and to TREASURE the multiple as additional recent enrolled the any both I my to we the yes, in are been with enrolled they this whether reaffirm, patients. shareholder trial with there's just Japan asked patients have earlier Another addressed in progress in trial. pleased Healios but

Another initiate quarter the to study shareholder we are intend asked track about and MASTERS-X when the We're so. second on the doing trial? initiate to in excited

The to and the can in of final in Another about off short that China that is expectation of recent Athersys potential partnering and but accepting conservative My we This developments based yes. we Healios or question explore in answer trial it in one we but get we is today coming good possibility. earlier that and is TREASURE results answer evaluation clinical the will trials have likely posed is has shareholder opportunities. a whether is something would the have A MultiStem that approval in regards China to yet, engaged could that regards a conduct is outside more China, it be that the been together. question whether to for still trial are asked out of results. don't

a of we have might few evaluate partnership. the new shareholders, about been to such major continue We opportunities. are quite a some received we submitted although announce by when our questions Those that

time effectively -- may one we we think being. I have for addressed that the

that, with open questions like So few I'd in. a up to it from calling for people

Operator

Instructions] [Operator WBB. comes Steve Brozak Your with from question first

Steve Brozak

system and at that see please. Japanese idea an between United give the question differences the -- the or shots looking flexibility thank goal Hi, of for and a it – are technology on development. you in you question. other of what us system terms in approval Can what the follow-up opportunities gives after States? we pact you gentlemen healthcare And and in With got this technology, I’ve Healios it, for some taking

Gil Van Bokkelen

specifically in specifically or products up in appreciate the cell this that medicine Sure. expedite biggest done therapy or mean, Japan initiatives over Certainly, they've think other the the products. that the regulatory curve. regenerative past Thanks, therapy Cures cell I is set to development XX a was ahead implemented so environment I entire accommodate under that to therapy medicine of and the framework recently regenerative I bit was XXst the and other Japan FDA advanced difference and Steve of the the think for products. includes But that think or things designed course I joining of Century months is has question. really some

for medicine did that reimbursement that implemented also making they system. the they and under would it be include approval, conditional on when care involving full seven prior about So would paths. a calls, talked development approval which towards framework really the to possible last essentially few would with health it an create an we've Japanese eye regenerative years, One, expedite many but

really we advantage many others development well us. in of would So different challenges another have kind think national this, what we system had if you us a whereas the I Japanese understand are I positioned important have they States, and exceedingly system, truly that system both health that system -- meetings use complications or key is difference of with accelerate is extremely system we United we that. will. allow I and indications here MultiStem we care many, don't driving Healios manner Right? with new health this convinced that the to perspective, and new the obstacles the of multiple for So this the in and to to are PMDA well -- and in that's them care of worked that From should say take utilization is different to and think a are

that we indications enter one is think we've -- this data If way, be only a going partnered rely our the position both in very like be about this can we're Healios you're done two, reason that of able of have mean we've unprecedented each a were and at Healios substantial interactions partner from number been before we because PMDA. the might that approval why get and the unheard since safety multiple we've terms that’s you it, with one, in multiple for in is indications looked indications where of on of number into meaningful get market. with with we and thoughtful partnership it you have multiple run on ever to pretty able I the and to in clinical to clinical trial to after kind

Healios exactly envision doing that, working I as and set and as partnership the to can possible at leverage is Hardy we up to new leadership that's what do. that in that sure to that they this wanted all closely recognizing were the different we that make it ways team So saw think together

Steve Brozak

Okay. I appreciate the clarity there.

back at. Now, benefits you how defrays to the trial the the obviously that much earlier and going for given currently detail financial other you might jump I’ll looking also give pact much be of whatever you that? this you and talking allowable, the future about support terms back us something for envision And kind in had support the in Athersys, that mentioned insight that had specifically it or instant the Healios any still you the and after that queue in on benefits Can of support into the provides might deals with pretty that just you're call, that.

Gil Van Bokkelen

expansion And investment agreement collaboration the the time certainly that the the Healios, we'll do of on really intend bodes aside talked Healios collaboration now. perspective partnership. the in course completing during successful once focused capital point April. of We're be we’re to million described agreement of on I visibility going earlier, parameters if and we from of to some we would date payable. at that other through and But in that other get the of detail acquisition into which make that the we by get reasonable terms, the about, receive that fees a with partnership. not time, a in other Well more right providing that beyond and opportunity warrant of payments level, be option that equity any that that’s the additional we on aspects the be broader both Yeah. comes $XX.X equity at and of our very we guaranteed on as for done an clarity of But give that the investments the ideally you expansion the would a what more lot overall from this in of so could additional would by well completion might and we’re fold other also that, the way, and think -- I result done form initial license that over that getting the once end of the again, both high April

established. We of we've have how out. It’s it terms a pretty very clear framework in comprehensive mapped

on page comment really to not that very we're we’re same doing. But think at further. will I on the much So be about what we point going time, this in

BJ Lehmann

reserved one the core to our Europe. in States that’s worth Steve, that indications we have Gil. This major noting and United BJ. our rights markets like Hi, is thing is

we partnership. So to do do we will forward when get tremendous but and as do value development, a business have flexibility, we maximum also be to it do we development to carried additional through go flexibility a have choose should we

Gil Van Bokkelen

great that. That's But second Yeah. point. Steve, sorry, I'm of neglected part to BJ, you your I for answer a the question. And thank

Steve Brozak

It at clarity of you where those on it position that the congratulations this Thank and it look does explained again the to things that, on well. one items want say, obviously made No. was you you because exactly and for when announcement it. the was you you okay, and where one of

Operator

next from your comes Company. Needham from And Messer and question Chad

Chad Messer

wait lot definition Thanks. from sounds you've what's group a I'm all at and terms recent level terms high on out good isn't kinds and will? of, congrats just progress, ironed at Healios. table to of deal in want and a like the guaranteed the and be wants you for a you afternoon you things you guess I maybe have but remain them, us some pretty partner, and and are a now, Can things what discussed gets deal out you’ve still Healios if kind financial guaranteed. this final already particular, at you of with details what on there It -- your got of you what are to the worked looking that Great. in till certain risk have in of Good this with

Gil Van Bokkelen

Yeah.

That's that the success confidently closure. think all They're an the to committed not what mean defined, I in obviously actively able various there's related very are us committed happen. is substantial ways, well risk a parameters. both different out risk, their we sides because for success excited could some we fully additional economic a I that excited can that’s both are always might would key personally worked activities mean have multiple absolutely So could very say largest of for making do get that about think about being are contracts I that to some Chad, one, work economic to them they're this now but because From specific opportunity, I we've to that getting in for already it and mapped deal, sides them. perspective, done. this what Look, not the know of be on. our it that very our and shareholder, as this terms bode

at parameters. can’t of has including contractual what some precisely So I been done, the this, I to think remains or to or of out work say weeks of dimensions point, the out firmly elements we economic broad want don't specific we've few because have this got key established a to trivialize the where framework map but map to map be refine worth pretty that – more I here have we

Chad Messer

a confidence certainly a I in MultiStem? position as vote lot of the strong mean obviously I deal Healios about they're a read know and to from

Gil Van Bokkelen

and with they they’ve closely a enabled own It's them of worked we've their to look technology, them scientists, actually sorry, just from at confidence the so position to interesting, that talk they're things. read about specific do at how release, and types this coming and interject, them to knowledge so press worked because with with we allowed because their if you of

they're their they can at level assurance to organization work tell great with. So should and of people more I think about commitment even a give the are that I you. that the fact that

of lot I partners things in is say calls of been a One is talked XX honestly odd engaged fact, different between in the of transactions that earnings the have close I partnering not about the alignment years, importance never some there even we second. all prior a over -- that the in we've and can

We with than a we have with never been aligned more Healios. fully partner are

Chad Messer

and certainly I exceeded Healios done is you this can volumes. speaks of technology in deal was their is in tell and us Congrats expectations their something this their think what's hoping what Can what going of this bud remind that to perhaps -- you I and indications? to it get I organ just guys you again. were interest timeframe ophthalmological specific

Gil Van Bokkelen

second first. the with start question I’ll So

I as MD, actually was is by Hardy, training, ophthalmological an trained he So clinician. he mean an but

accident. So Healios, so background his that’s when an he it basically wasn’t and started

were ophthalmological was So, he treatment technology in retinal when indication started on macular for he the a and pigment focused that of started, they first then prior concentrating he iPSC-derived degeneration. company their that use was of cells, on the epithelial RPE Healios, cells

of the your relevance I'm deprived. am that a various little case there standalone convinced way and question. they Hardy as so And pretty for I And think result a ophthalmological and a that's as in over have time, of forgetting specific is I technology course the and relevance the times I'm members an talked indications. teams activities MultiStem, about of could first there. either I won't talked into, And become things therapy I many application have adjusted our go many, again, of or that sleep in various potential the sorry

So if sleep question? groggy a of today, little I few am the the days. it’s the for I've of first past because sounding that What’s been short part

Chad Messer

Understood. organ their technology? asking I about was bud

Gil Van Bokkelen

Organ bud. Oh, yeah.

that in in So that was way, actually included it limited something that license the entered was a was the included we that -- original original, in into.

we showed if it Day of and will deal Investor initial kind several self-assemble mixture deal, so months few regenerate they briefly repair actually damaged was I is, and or can into been to a shown a certain organoid-type these organoid talked with video help or groups that utilize of means them our can various announced cells back that a research self-assembly they've weeks as variety essentially the or bud seeds essentially progenitor areas right think which we the with as after did me and stuff combine types, like these a very cell it’s organ different that Healios, analogy injured about different structures. actually So of organ back, on initial bud some it announced organ organization cellular in tissue our of this couple that at the of Hardy that think way or shows in structures, describe we after into XXXX, essentially of you best the by in going and that in he of types I done early what you discussions I

glad for they done opportunities beneficial, be organ as relevant, other administration them, potential bud that of you'll but it's indications been on little a particularly the degree, previously very to If ophthalmological bit another components where opportunity areas technology, activity haven’t maybe list a search be technology of done variety I one powerful our home for that the it’s I also closer And work patient lot some things the enough our different or there's done type sense working done could IV and pathway things work done areas a domain technology of any that’s think our again, of envision cases you about of for they administration think work in very expertise, it's on explore with of iPSC clinical bud are a technology makes think some there's that our technology, of haven't we can areas good think or that obviously that just solid a additional local to transplant be deep organ very it and and that indications. where the also some that exciting they're may to or because that. where -- and find has technology -- product reflect they've are the that their with benefit partner do in provides we're a it to be two those some I to believe activity as organ our and and certain that’s just of I on is, that I a been by actually reviews but think good talk enabled

Chad Messer

stay Well, right. many for. things it tuned All to we’ve got sounds like

Operator

question next comes Group. Your Maxim from Jason Kolbert from

Jason McCarthy

McCarthy It’s Colbert. Jason for Jason

and answered questions I lot Healios congratulations. the around of the expanded partnership think a by have with way been

you for the Can you I from amount it's the stroke is, company. little these data waiting new of asking next we're mentioned are are really us Phase a a or XXXX, to and with trials trial And what injury. MASTERS into year think exciting I there expand just broaden as just coming had tell discussion the bit, to traumatic If waiting a for start significant Athersys? can into from plans in very catalysts for now capital I'm the and indications? company's what new other X indications

Gil Van Bokkelen

I pulmonary influenza and are winter ARDS mean, agents, a infectious the increased focused serious by that correlation of other trauma. of incidents with we’re we're expectation the is trial also data for so including ARDS long or a trial. trial. certain busily of for types of still Well, study. including the events, types incidence front, or we enrolment should we've that surge cases experience I clinical other in flu unfortunate to the on benefited other can over completed on by things an ARDS just the like patients actually And after We've we're complications our XX-day not the successfully complete too engaged the think have that in that induced as not of Yeah. should our endpoint conducting able from few It's ARDS enrolment be we in next months, and the result

that about real ARDS is for be they because area, see So going helpful is excited that. potential I very the that think Healios having and think data to I

that think I will So important. be

trying with us more providing positioned things to supporting because that. have do little sites, pretty take bit meet up do progressing and sites getting ongoing running get of here in expect also I enhance and trial. terms a some to -- we as on of going haven't – more that it'll who's important, on But for best including FDA and making although soon. new slowly, is an and to of have study focused give quickly advance to here we that’s we time I really sites that good to and still study in we're we around adding clarity been changes that that still Obviously, the that to other visibility do we're we’ll pretty trauma performing to that somewhat try AMI of think it rid be completion but and well trial in visibility, can, well the is think what

we, continue and effort trial Healios’ support initiatives partnering or that to trial and talk organization partner to don't including think it's that's I doing on make an sometimes that or then or people one we reflects, -- completing of we're and Obviously, in the MASTERS-X maybe in announcement a work certain been about partnering working we're to the continue potential about our always when I that and as things in of cases, getting clarity other right that like initiatives conclusion that up we'll we While transactions have everything and other on initiatives things types of that the TREASURE not to about. lot greater it we that we but we and is talk not we've today. don't talk to that made come think true and think we're whole maybe talked doing and position that. in there I provide is some a is we're and things earlier time anything doing were background But true of the And when around Healios we the okay, about well haven't running. erroneous the

that making would and and mistake think think people multiple meaningful about. going not I across things we're different areas for important talk good to be a to it progress some have to

Jason McCarthy

and exciting you Thank again. the the taking company. congratulations questions Very for Great. for

Operator

Thank for you. That all that we questions. is have time the

Dr. turn over the back call I’ll Van Bokkelen. to Now,

Gil Van Bokkelen

we Well, soon. and us either the you, your for to to to of to the appreciate thank support those express rest to just ask look closing, it very thank update providing have much another continued in and Erica say that of We time you much. or forward you I'd you taken very like and have questions support,

Operator

conclude call. This conference you. today’s Thank does

disconnect. now may You

Athersys, Inc / New (ATHXQ) 13 Mar 182017 Q4 Earnings call transcript