Aastrom’s Q4 Revenues Decline

Aastrom Biosciences has reported revenues of $69,000 consisting of product sales for the fourth quarter ended June 30,2009, a decrease when compared to $149,000 for the fourth quarter of 2008. Revenues for the twelve months ended were $182,000, a decline when compared to $522,000, for the same period in fiscal year 2008.

Net loss for the fourth quarter ended June 30, 2009 was $3.95m or $0.03 per share, a decreased when compared to a net loss of $4.86m or $0.04 per share for the same period in fiscal year 2008.

The company has reported a net loss of $15.94m or $.11 per share for the twelve months ended June 30, 2009, a decrease when compared to a net loss of $20.13m or $0.16 per share for the same period in fiscal year 2008.

George Dunbar, president and CEO of Aastrom, said: “Since focusing our clinical development efforts on cardiac and vascular indications 15 months ago, we have made steady progress recruiting and treating critically ill patients who have limited therapeutic options available to them. We are pleased to learn that several patients treated in our open-label cardiac regeneration trial have been sharing their experiences through reports in the media.

“These human interest stories are very encouraging, and we look forward to analyzing and reporting interim clinical data from all patients enrolled in the trial. We still anticipate completing patient enrollment in our Imapct-DCM trial by the end of December 2009.”

Aastrom is a developer of autologous cell products for the repair or regeneration of human tissue. The company’s proprietary Tissue Repair Cell (TRC) technology involves the use of a patient’s own cells to manufacture products to treat a range of chronic diseases and serious injuries.