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Aastrom Biosciences, Inc. Message Board

  • hwmccusker hwmccusker Mar 18, 2013 6:11 PM Flag

    New CEO has inherited a “big plate of issues”

    Q4 EPS of -$0.18 beats by $0.05 but, losses were 2.6 X FY11 primarily due to increased trial costs which are included in R&D expenses. ASTM’s new CEO is focused on … completing enrollment in the P2b ixCELL-DCM study which is … accelerating the rate of enrollments in the P3 REVIVE study with more viable sites , addressing its capital requirements initially through cost containment and controlling its clinical programs. The new CEO has inherited a “big plate of issues” and if you think he was hesitant on the call – he has … only had the “bulls eye” on his back for a few days and he understands his transition days are limited to his current 8 day a week schedule – investors WILL be well served!! ASTM was UP at the close … +$0.03 or +2.34% at $1.31 … pre the earnings announcement … this pricing STILL DOES NOT reflect a late stage P3 trial status and the potential of partnering initiatives. ASTM traded in a lower mid-day range of $1.25 – $1.31 with moderate 273 K volume … compared to Friday’s closing of $1.28 with moderate volume of 194.9 K shares. 9.4% of shares are held by institutions and 0.56% is held by insiders. The 50 day moving average is $1.28 while the 200 day average has trended to $1.41. Institutional holdings are running at 15.90% but, the short position is 7.5% of 43.78 M float of the 42.78 M shares outstanding. As usual $0.04 or -3.05% to $1.27. So hold on … still a “Speculative BUY” … but, a lot off issues – trials, cash and partnering need to be addressed by the new CEO!

    Sentiment: Buy

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