Aastrom (ASTM): Reports the Quarter, JMP Makes Positive Comments

Tuesday, March 13, 2012 at 9:32PM
DDE Editor in Regenerative Medicine, astm, cymx, kool, psti

Aastrom (ASTM): Reports the Quarter its great to have the cash but...

Highlights As follows:

1. The company ended 2011 with cash of $5.5MM which, together with $40MM raised last week should fund current operations through mid 2013.
2. The Phase III trial for ixmyelocel-T in critical limb ischemia (CLI) has begun. Enrollment will be monitores (this is a large trial, how long will it take ?).
3. Aastrom is planning to move ahead with a phase IIb trial in dilated cardiomyopathy (DCM) by this summer. Reesults from the Phase 1b trial are expected this quarter.

Daily Dose Conclusion: Its great that Aastrom is financed but we convertible debt is atypical for Biotech's and raises the importance of the CLI trial. We believe the trial is highly powered and if all goes well will show good results but as mentioned previously, the "B" in binary just got a bit Bigger.  CLI is an unmet medical need. Aastrom does appear to have the jump on the field (versus Pluristem (PSTI) and Aldagen / Cytomedic

Article originally appeared on Daily Dose Equities - Wall Street Analysis for Biomedical Research (http://dailydoseequities.filmannex.com/).