Henry McCusker's  Instablog

Notice of Failure to Satisfy a Continued Listing Rule or Standard

On 5/9/13, Aastrom Biosciences received a notification letter from NASDAQ 's Listing Qualifications Department advising that for the past 30 consecutive business days, the bid price for the common stock has closed below the minimum $1.00 per share requirement set forth in Nasdaq Listing Rule 5450(a)(1)

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Notice also stated that ASTM would be provided 180 calendar days, or until 11/5/13, to regain compliance with the Minimum Bid Price Rule. To do so, the bid price of the Company's common stock must close at or above $1.00 per share for a minimum of ten consecutive business days prior to that date.

The Bottom Line: Filed in an 8-k versus a press release? It couldn't have come at a <worse> time when so many issues are in play - i.e. their pending $25 million fund raising initiative(s). ASTM closed DOWN to -$0.60 on 166,997 share volume.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

BTX and its subsidiary Cell Cure Neurosciences has been awarded a grant of $1.5 M, from Israel's Office of the Chief Scientist (OCS) to help finance the development of OpRegen^®, a cell-based therapeutic product in development by Cell Cure Neurosciences for the treatment of age-related macular degeneration.

Cell Cure Neurosciences' plans for the development of OpRegen^® include completion of preclinical testing and filing an application to commence human clinical trials in 2014.

The Bottom Line: These grants are among the Israel's R&D Law's stated objective of creating new employment opportunities through the encouragement of domestic R&D projects. The OCS has previously provided grants to Cell Cure Neurosciences who will pay a 3.5% royalty to the OCS on revenues from OpRegen^® until total royalties paid equal 100% of the amount of the grant plus interest at a LIBOR rate.

BTX closed on 5/10/13 at $4.08 and the grant news is actionable … as any monies in effect valuation … +$0.02 to $0.05 - on this one.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

MedStar Georgetown University Hospital will use the services of PCT for processing and storage of peripheral blood progenitor cells, donor leukocytes, bone marrow and cord blood, as well as requested assaying and storage of cellular therapy product, and retrieval and transportation logistics.

The Georgetown Lombardi Comprehensive Cancer Center at MedStar Georgetown University Hospital is the Washington, D.C. metropolitan region's only comprehensive cancer center, a designation from the National Cancer Institute (NCI) demonstrating its scientific excellence and the capability to integrate multi-disciplinary, collaborative research approaches to focus on the problem of cancer. Since its founding, PCT has provided cell therapy products for infusion into over 6,000 patients.

The Bottom Line: Will enable PCT to provide cell products to MedStar Georgetown University Hospital <a very prestigious medical facility> and HackensackUMC to support their bone marrow transplant programs.

NBS closed at $0.56 on 4/10 on solid volume <1.01 M shares> which was UP +$0.03 from 4/9/13. I would rather see incremental movement in revenue … and share pricing than abrupt peaks and valleys as we anticipate a lower opening and DOWN day in the market.

Addendum: NBS is UP +$0.02 or +3.46% to $0.58.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.