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Biotech / Medical : ASTM-AASTROM BIOSCIENCES: STEM CELL RESEARCH
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To: pat w. who wrote (3)9/23/1997 3:36:00 PM
From: DZOO   of 1084
 
FYI:AASTROM BIOSCIENCES INC (ASTM) 6 1/4 +2 1/8. A J.P. Morgan initial "buy" rating and 12-month target of $12 (upside 92%) has carried
shares of Aastrom Biosciences, a developer of cell therapy technology and devices for cancer patients who have had chemotherapy or radiation treatment, to
an intraday high of $6.687. Currently, the stock is trading 52% above yesterday's closing price, on more than 25 times 3-month average daily turnover of
40,000 shares. The upgrade comes two weeks after Aastrom reported 4th qtr net loss of $3.66 million, or $0.28 a share, compared to a year-ago loss of
$2.99 million, or $0.30 a share. Since completing its initial public offering in February, the company has reached several milestones: ASTM has
initiated a clinical trial in Europe to evaluate the use of the Aastrom CPS in the production of bone marrow stem cells to promote the recovery of white blood
cells in cancer patients; presented initial results of a study evaluating the first clinical use of the Aastrom CPS to produce cells necessary to restore bone
marrow tissue in breast cancer patients who have received aggressive chemotherapy to treat their disease; and received two patents and two notices of
allowance for tissue-repair technologies from the U.S. Patent and Trademark Office.. Going-forward, the company is seeking to complete manufacturing scale
up activities of the Aastrom CPS and to seek CE marking necessary for European sale of the product, continue current clinical trials and initiate pivotal trials to
further evaluate the use of the Aastrom CPS to support cancer patients who have undergone therapies that damage or destroy the cells of their blood and
immune systems. Cowen & Co, lead-underwriter of the company's IPO, currently rates the stock a "strong buy." ...... I just went long and will try to add to this thread as info becomes available.
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