Aastrom Biosciences (ASTM) craters 32% out the gate after saying it plans to cut its staff and...

|By:, SA News Editor

Aastrom Biosciences (ASTM) craters 32% out the gate after saying it plans to cut its staff and operating costs by 50%, and end Phase III trials of its ixmyelocel-T drug for patients with critical limb ischemia - when there is an sudden lack of blood flow to a limb - as it was unable to bring in a partner. Instead, Aastrom will focus on Phase 2b trials of ixCELL for treating dilated cardiomyopathy (heart muscle disease). (PR)