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Henry McCusker
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Analyst, Journalist and Publisher ... Henry enters his tenth (10) year at Scimitar Equity -Regenerative Medicine Investors which aggregates, curates and creates bottom-line content weeding of regenerative medicine and cell therapy news to provide a customized, vetted selection of relevant and... More
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  • Aastrom (ASTM) Drops CLI Program Focus On Dilated Cardiomyopathy 0 comments
    Mar 27, 2013 9:31 AM

    Strategic change in its R&D programs

    ASTM will stop enrollment and end the P3 REVIVE clinical trial in patients with critical limb ischemia (NYSE:CLI).

    ASTM will now also execute a corporate restructuring that will reduce staff and operating expenses by approximately 50%.

    ASTM will begin treating patients in the P2b ixCELL-DCM clinical study within the next few weeks. The ixCELL-DCM trial is a randomized, double-blind, placebo-controlled Phase 2b study. Approximately 108 patients will be enrolled at about 30 sites in the U.S.

    The Bottom Line: Focus shifted to dilated cardiomyopathy and stop enrollment and end P3 REVIVE CLI study following strategic program review. A restructuring will significantly reduce operating expenses and capital requirements. In an earlier P2a DCM clinical trial, ixmyelocel-T was well-tolerated and efficacy observations were consistent with improved function of impaired myocardium in patients with DCM.

    ASTM closed at $1.15 and will get hammered today - so much for shareholder value as ASTM joins the crowded … multiple of companies focused on heart related disease. An extremely sad status … after all the CLI promises … 3 equity offerings and a preferred financing by MLV <Dart family>. Expect … blow back devastating the stock pricing! Do I see a $050 -$0.75 share pricing … SELL. Just when I thought a day off was due for the Easter holiday weekend … a lot more to follow …!

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