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<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of earliest event reported): November 10, 2008</B>

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<P align="center" style="font-size: 24pt"><B>Athersys, Inc.<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
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    <TD style="border-bottom: 1px solid #000000"><B>Delaware</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>001-33876</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>20-4864095</B></TD>
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<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
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    <TD style="border-bottom: 1px solid #000000"><B>3201 Carnegie Avenue, Cleveland, Ohio<BR></B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>44115-2634</B></TD>
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    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
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<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(216) 431-9900</B>


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    <TD nowrap>(Former name or former address if changed since last report.)</TD>
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<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

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<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


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<P align="left" style="font-size: 10pt"><B>Item&nbsp;2.02. Results of Operations and Financial Condition.</B>


<P align="left" style="font-size: 10pt; text-indent: 3%">On November&nbsp;10, 2008, Athersys, Inc. issued a press release announcing financial results for its third quarter
ended September&nbsp;30, 2008. A copy of this press release is attached hereto as Exhibit&nbsp;99.1.


<P align="left" style="font-size: 10pt; text-indent: 3%">The information contained in Item&nbsp;2.02 of this Current Report on Form 8-K, including Exhibit&nbsp;99.1 attached hereto,
is being furnished to the Securities and Exchange Commission and shall not be deemed to be &#147;filed&#148; for the purposes of
Section&nbsp;18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section. Furthermore,
the information contained in Item&nbsp;2.02 of this Current Report on Form 8-K shall not be deemed to be incorporated by
reference into any registration statement or other document filed pursuant to the Securities Act of 1933.


<P align="left" style="font-size: 10pt"><B>Item&nbsp;9.01 Financial Statements and Exhibits.</B>



<P align="left" style="margin-left:4%; font-size: 10pt">(d)&nbsp;Exhibits.

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    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Exhibit Description</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release dated November&nbsp;10, 2008</TD>
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<P align="center" style="font-size: 10pt"><B>SIGNATURES</B>


<P align="left" style="font-size: 10pt; text-indent: 4%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.

<P align="left" style="font-size: 10pt">Date: November&nbsp;10, 2008

<P align="left" style="margin-left:41%; font-size: 10pt">ATHERSYS, INC.

<P align="left" style="margin-left:41%; font-size: 10pt">By: <U>/s/ Laura K.
Campbell</U><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Laura K. Campbell<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Vice President, Finance

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<P align="center" style="font-size: 10pt"><B>EXHIBIT INDEX</B>

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    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Exhibit No.</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000">Exhibit Description</TD>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">99.1
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Press Release dated November&nbsp;10, 2008</TD>
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Filed by Bowne Pure Compliance
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 10, 2008
Athersys, Inc.
(Exact name of registrant as specified in its charter)
Delaware
001-33876
20-4864095
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
3201 Carnegie Avenue, Cleveland, Ohio
44115-2634
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(216) 431-9900
(Former name or former address if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02. Results of Operations and Financial Condition.
On November 10, 2008, Athersys, Inc. issued a press release announcing financial results for its third quarter
ended September 30, 2008. A copy of this press release is attached hereto as Exhibit 99.1.
The information contained in Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto,
is being furnished to the Securities and Exchange Commission and shall not be deemed to be "filed" for the purposes of
Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section. Furthermore,
the information contained in Item 2.02 of this Current Report on Form 8-K shall not be deemed to be incorporated by
reference into any registration statement or other document filed pursuant to the Securities Act of 1933.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No.
Exhibit Description
99.1
Press Release dated November 10, 2008
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.
Date: November 10, 2008
ATHERSYS, INC.
By:
/s/ Laura K.
Campbell
Name: Laura K. Campbell
Title: Vice President, Finance
3
EXHIBIT INDEX
Exhibit No.
Exhibit Description
99.1
Press Release dated November 10, 2008
4