Athersys disappointed by Phase II MultiStem study results in UC

US biotech firm Athersys (Nasdaq: ATHX) has announced that interim results from the Phase II clinical study of its MultiStem cell therapy show that it fails to demonstrate meaningful benefit in treating refractory ulcerative colitis (UC) patients. The company’s shares dropped 56.4% on Monday to close at $1.33.

The study, conducted by US pharma giant Pfizer (NYSE: PFE), shows favorable safety and tolerability for MultiStem through eight weeks following treatment but failed to show meaningful benefit, following a single administration, in patients suffering from chronic, moderate-to-severe UC who have failed other therapies.

These results reflect patient data 8 weeks following cell therapy or placebo administration and include the primary efficacy endpoints for the study. Additional 16-week results, including data about the impact from a second round of dosing for a subset of patients, longer term secondary clinical endpoints, and biomarker evaluation will be available after additional analysis has been completed.