Item 8.01 Other Events.

As previously disclosed, Athersys, Inc. (the "Company") had received a written notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") that it was not in compliance with the requirement to maintain a minimum closing bid price of $1.00 per share, as set forth in Nasdaq Listing Rule 5550(a)(2 (the "Bid Price Requirement"), because the closing bid price of the Company's common stock (the "Common Stock") was below $1.00 per share for 30 consecutive business days. The Company had a period of 180 calendar days from the date of the Notice, or until June 20, 2023, to regain compliance with the Bid Price Requirement.

On January 24, 2023, Nasdaq notified the Company that the bid price of the Common Stock closed at or above $1.00 per share for a minimum of ten consecutive trading days and that the Company had regained compliance with the Bid Price Requirement. However, as previously disclosed, the Company is not in compliance with the requirement to maintain a minimum market value of listed securities of $35 million, as set forth in Nasdaq Listing Rule 5550(b)(2) (the "Market Value Standard"). The Company has until April 12, 2023 to regain compliance under the Market Value Standard. There can be no assurance that the Company will be able to regain compliance under the Market Value Standard, or will otherwise be in compliance with other Nasdaq listing criteria. While the Company is exercising diligent efforts to maintain the listing of the Common Stock on the Nasdaq Capital Market, there can be no assurance that the Company will be able to regain or maintain compliance with Nasdaq listing criteria.

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