Athersys Inc., the Cleveland-based regenerative medicine company, needs to raise more capital so it can continue operating, CEO Dan Camardo told securities analysts late Thursday afternoon.
In June, Athersys embarked on a financial and operational restructuring — what Camardo has begun calling a "transformation" — to lower its cost and conserve cash while completing the testing and commercialization of its adult stem-cell therapy, MultiStem, to treat certain stroke patients.
The restructuring…
