CLEVELAND, Jan. 14, 2010 (GLOBE NEWSWIRE) -- Athersys, Inc. (Nasdaq:ATHX) announced today that it has filed a shelf registration statement with the Securities and Exchange Commission ("SEC"). Athersys currently does not have any immediate plans to offer or sell the securities under this registration statement. The registration statement is intended to provide Athersys with financial flexibility to raise capital from the offering of up to 20,000,000 shares of common stock and/or warrants to purchase common stock, which could occur in multiple transactions conducted over an extended period of time. When declared effective, a shelf registration statement gives a company advance regulatory approval to sell securities in one or more separate offerings in amounts and at prices and terms to be determined at the time of the sale.
If the securities are issued, Athersys may use the proceeds for general corporate purposes, including, but not limited to, research and development costs, payment obligations and capital expenditures.
William Lehmann, J.D., President and Chief Operating Officer, stated, "This filing is a strategic, proactive measure that will give us flexibility over the next few years to access the capital markets in a timely and efficient way when we feel it is in the best interest of our shareholders to do so."
A registration statement relating to these securities has been filed with the SEC, but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute a solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. Any offer of these securities will be made solely by means of the prospectus included in the registration statement and any prospectus supplement that may be issued with respect to such offering.
A copy of the prospectus included in the registration statement may be obtained on the SEC's website at www.sec.gov. In addition, when available, copies of the prospectus, and any prospectus supplement relating to a particular offering, may be obtained by contacting Athersys, Inc., attention: Laura Campbell, 3201 Carnegie Avenue, Cleveland, Ohio 44115-2634, lcampbell@athersys.com.
About Athersys
Athersys is a clinical stage biopharmaceutical company engaged in the discovery and development of therapeutic product candidates designed to extend and enhance the quality of human life. The Company is developing MultiStem(R), a patented, adult-derived "off-the-shelf" stem cell product platform for multiple disease indications, including damage caused by myocardial infarction, bone marrow transplantation and oncology treatment support, ischemic stroke, and inflammatory bowel disease. The Company is also developing a portfolio of other therapeutic programs, including orally active pharmaceutical product candidates for the treatment of metabolic and central nervous system disorders, utilizing proprietary technologies, including Random Activation of Gene Expression (RAGE(R)).
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