The independent Data & Safety Monitoring Board for the Phase IIb trial of Aastrom Biosciences' (ASTM) ixmyelocel-T for the treatment of advanced heart failure has recommended that the study continue without any changes.
The recommendation follows an interim review of safety data.
Aastrom expects to complete enrollment for the trial in H2.
The split will become effective on Oct. 16. Aastrom (ASTM), which closed today at $0.23, says it's making the move to satisfy the Nasdaq's $1/share minimum bid requirement. Shareholders will receive cash in lieu of fractional shares. (PR)
Aastrom Biosciences (ASTM -4.1%) slips today despite posting a Q1 net loss of -$0.15, which was narrower than the prior year and beat analysts estimates for a loss of $0.19 per share. The company also reported cash guidance, saying that it had a total of $9.2M in cash and cash equivalents, compared to $13.6 million in cash and cash equivalents in December. The cash used for operations during Q1 came to $6.8M.