Updating, Aastrom Biosciences (ASTMD) Regains NASDAQ Listing Compliance
ASTMD has regained compliance with the $1.00 minimum bid price requirement under the NASDAQ Listing Rule.
- On 2/18/10, ASTMD affected a reverse stock split to increase the per-share trading price of its common stock to meet the NASDAQ requirement,
- The ticker symbol for Aastrom Biosciences will revert from ASTMD to ASTM on 3/18/10.
ASTMD reported results (2/24/10) from interim analysis of the multi-center, randomized, double-blind, placebo-controlled U.S. Phase 2b clinical trial designated RESTORE-CLI.
- According to the interim analysis the results were both positive and encouraging. ASTMD believes the results provide a strong signal of the potential efficacy and safety of their autologous cell therapy in patients with Critical Limb Ischemia (CLI),
- ASTMD can now move ahead with plans to advance this program into Phase 3 clinical testing,
- CLI is typically identified as the end stage of peripheral arterial disease. People with CLI face a high risk of amputation and in some cases death. Approximately 1 M patients in the U.S. suffer from CLI. The disease results in more than 160,000 amputations each year.
ASTMD closed at $1.48, down 2.63% with a market cap of $41.82 M in these days of volitile markets. The share pricing will be up and down as markets better respond and shareholders define their risk issues short-term but, ASTMD is a near-term “BUY”. Also, the sector is responding to the visibility of initiated trials and multiple interim trial results which should help these equities.
Categories: Independent Equity Research
