The blended valuation model implies a pricing of $4.40 given the fully diluted shares outstanding. The Sum of the Parts estimation of $5.62 is discounted 10% and is significantly above this stocks current price of $1.49.
A BUY ranking believing that ASTM’s stock is held at an extremely low stock price relative to market comparables but should appreciate as partnering opportunities and the regulatory pathway evolves. Shares of ASTM offer upside in near term but, trading remains volatile based on the rollercoaster of market dynamics.
Conducting 3 late staged trials; IMPACT-DCM trial, a Phase 2 (cardiac regeneration) with surgical delivery of TRCs in patients with dilated cardiomyopathy (DCM) leading to severe chronic heart failure); DCM P2 trial with catheter delivery of TRCs and the RESTORE-CLI trial, a Phase 3 (vascular regeneration) in patients with CLI (critical limb ischemia).
Click: Rome Wasn’t Built in a Day, But Aastrom is Crossing the Rubicon http://scimitarequity.com/upload/ASTM-Q4935167.pdf