|Day Low/High||3.10 / 3.14|
|52 Wk Low/High||2.55 / 5.39|
Results From Phase 2a IMPACT-DCM and Catheter-DCM Studies Published in Circulation Research
Experienced Senior Sales Professional Brings Wealth of Marketing, Strategic Planning and Brand Management Expertise to Aastrom
Accomplished Industry Veteran Brings Extensive History of Successful Corporate Development, Fundraising and Capital Management to Aastrom
Conference Call May 15, 2014 at 4:30 PM Eastern Time
Aastrom Biosciences (ASTM) soared Monday after the company announced its acquisition of Sanofi's Cell Therapy and Regenerative Medicine, or CTRM, business for $6.5 million. Aastrom will pay $4 million in cash and $2.5 million in a promissory note for the business. The company expects the acquisition to close in approximately three weeks. The acquisition gives Aastrom global commercial rights to three marketed autologous cell therapy products called Carticel, Epicel and MACI. Revenues of those three products totaled $44 million in 2013. Aastrom will also acquire manufacturing and production centers in the U.S. and Denmark. The stock was up 32.1% to $46.5 at 11:15 a.m., by which point it had eclipsed its average volume of 380,200 with more than 1.6 million shares traded for the day. Aastrom hit a high of $4.95 for the day as of that time.
Acquisition of Landmark Autologous Cell Therapy Portfolio and Manufacturing Centers in U.S. and Europe Positions Aastrom as a Global Leader in Regenerative Medicine
Globally Recognized Industry Veterans Bring Extensive R&D and Product Development Experience in Regenerative Medicine and Multiple Therapeutic Areas
Conference Call March 13, 2014 at 4:30 PM Eastern Time
These under-$10 stocks look ready to trade higher from current levels.
The biotech sector closed 2013 up 65%, greatly outperforming the broader markets.