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Athersys (ATHX), Rape, Pillage And Plunder – SELL!

Where's the beef?

Athersys (NASDAQ: ATHX) has suffered substantial losses throughout 2012 due to a combination of slow progress for the clinical development of their stem cell line MultiStem, as well as share dilution due to the recent offering.

In the past year the stock price dropped more than … 50% and they diluted the share count more than … 60%. ATHX's stock has lost … 90% of the value in … 5 years.

With ATHX's stock going nowhere - the Board of directors voted bonuses for their executive:

  • Dr. Gil Van Bokkelen Chief Executive Officer $107,500;
  • William Lehmann, Jr. President and Chief Operating Officer $77,000;
  • Dr. John Harrington Executive Vice President and Chief Scientific Officer $77,800;
  • Dr. Robert Deans Executive Vice President, Regenerative Medicine $62,300;
  • Laura Campbell Vice President of Finance $40,500.

The Bottom Line: So … rewards are for what - increasing dilution on top of their exorbitant salaries and - some call this a BUY! Shame … no wonder the RegMed universe is going … where? If this isn't a SELL - what is?

ATHX is trading at $1.18, down -$0.02 or -1.66%.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.