ATHX Bulls vs Bears 10/18/15

Bulls vs Bears updated 8/6/2015

Bullish

• Even though exploratory Phase 2 stroke trial failed to meet prim. endpoint, study indicate promising result at earlier time-point( < 36 h );
• Completed additional analyses of data from Phase 2 clinical study of MultiStem^® therapy to treat ischemic stroke 
• Advanced launch activities for grant-supported Phase 2 clinical study to evaluate the administration of MultiStem cells to patients who have suffered a severe, non-ST-elevated AMI;target remains to generate top-line data in 2016;
• Acute MI favorable phase 1, plan Phase 2 in Q2 2015;
• Received FDA authorization for grant-supported clinical study exploring MultiStem treatment of acute respiratory distress syndrome ("ARDS")
• Hematopoietic Stem Cell Transplant for radiation patients, Ph 1 completed
• Director Traub bought 30K@$1.27 on 6/10/15

Bearish

• Exploratory Phase 2 trial failed to meet prim. endpoint on 4/14/15
• No near term price catalyst
• As of 6/2/15 Insider sell 3 mo (-128611_Sell/Tot 17/0; 12 mo (-12673, Buy/Tot 57/63 net trades) 
• Inflammatory Bowel Syndrome - Phase 2 results show no efficacy. Pfizer to terminate effective July 2015 
• Will Chugai pay $7M to continue collaborate on ischemic stroke?
• From Q1 2015 call, stroke Phase 2b trial will happen after summer