Aastrom Biosciences, Inc. is engaged in the development of human cell therapy products intended for a broad range of medical applications, based on its patented process and device capabilities. 

Aastrom Biosciences, Inc. est engagé dans le développement de produits de thérapie de cellules destinés à une large gamme d' applications médicales, basée sur ses possibilités de processus et de dispositifs brevetées.

http://www.aastrom.com

Aastrom Biosciences Reports Third Quarter 2011 Financial Results

ANN ARBOR, Mich., Nov. 8, 2011 (GLOBE NEWSWIRE) -- Aastrom Biosciences, Inc. (Nasdaq:ASTM), the leading developer of patient-specific expanded multicellular therapies for the treatment of severe chronic cardiovascular diseases, today reported financial results for the quarter and nine months ended September 30, 2011.

 "Our recent financial results reflect the rapid advancement of our clinical programs this year, including plans to initiate the REVIVE-CLI Phase 3 clinical trial of ixmyelocel-T in the fourth quarter of 2011. This trial will enroll patients with critical limb ischemia who have no other treatment options available," said Tim Mayleben, president and CEO of Aastrom. "We also look forward to presenting the final results from the Phase 2b RESTORE-CLI clinical study on November 14, 2011 at the American Heart Association Scientific Sessions in Orlando, Florida."

 Aastrom reported a net loss of $1.9 million, or $0.05 per share, for the third quarter of 2011 compared to a net loss of $5.9 million, or $0.21 per share, for the same period a year ago. For the nine months ended September 30, 2011, Aastrom reported a net loss of $16.9 million, or $0.44 per share, compared to $12.4 million, or $0.45 per share for the same period in 2010.

 Research and development expenses for the quarter and nine months ended September 30, 2011 were $5.8 million and $15.4 million, respectively, versus $4.2 million and $10.6 million for the same periods a year ago. The increase in research and development expenses for both periods was primarily attributable to advanced preparations for the Phase 3 REVIVE-CLI clinical program for ixmyelocel-T as well as an increase in non-cash stock-based compensation expense.

 General and administrative expenses for the quarter and nine months ended September 30, 2011 were $1.7 million and $5.8 million, respectively, compared to $1.7 million and $4.6 million for the same periods a year ago. The increase in general and administrative expenses for the nine months ended September 30, 2011 was primarily due to an increase in consulting and employee-related expenses, including non-cash stock-based compensation expenses, as well as costs related to the previously announced restatement of the company's historical financial results in the first quarter of 2011.

 Other income (expense) for the quarter and nine months ended September 30, 2011 was $5.5 million and $4.3 million, respectively, compared to $(0.1) million and $2.8 million for the same periods a year ago. The fluctuations are due to non-cash changes in the fair value of the company's outstanding warrants, driven by the change in the fair market value of the company's common stock in these periods.