Athersys continues to explore options, expects to file for bankruptcy

Athersys intends to continue exploring available strategic options. However, in the event Athersys is unable in the near-term to enter into a strategic transaction or obtain adequate financing, it expects to have to file for protection under the bankruptcy laws to allow the company to conduct an orderly wind down of operations. In the interim, the company is streamlining its operations to preserve its capital and cash resources.