Aastrom Biosciences Regains Compliance With NASDAQ Equity Standard Listing Requirement
November 15 2013 - 9:00AM
Aastrom Biosciences, Inc. (Nasdaq:ASTM), the leading developer of
patient-specific, expanded multicellular therapies for the
treatment of severe, chronic cardiovascular diseases, announced
today that on November 14, 2013, the Company was notified that it
has regained compliance with the NASDAQ Capital Market and its
minimum market value of listed securities requirement. The Company
regained compliance with NASDAQ Marketplace Rule 5550(b)(2) and was
notified by NASDAQ that the delisting matter is now closed.
"We are very pleased to have successfully completed a series of
important financial restructuring initiatives in recent months to
regain compliance with NASDAQ Capital Market listing requirements,"
said Nick Colangelo, president and chief executive officer of
Aastrom. "We appreciate the support of our investors while we
worked to complete this process, and look forward to continuing to
advance our development programs and business strategy moving
forward."
About Aastrom Biosciences
Aastrom Biosciences is the leader in developing
patient-specific, expanded multicellular therapies for use in the
treatment of patients with severe, chronic cardiovascular diseases.
The company's proprietary cell-processing technology enables the
manufacture of ixmyelocel-T, a patient-specific multicellular
therapy expanded from a patient's own bone marrow and delivered
directly to damaged tissues. Aastrom has advanced ixmyelocel-T
into late-stage clinical development, including a Phase 2b clinical
trial in patients with ischemic dilated cardiomyopathy. For
more information, please visit Aastrom's website at
www.aastrom.com.
The Aastrom Biosciences, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3663
This document contains forward-looking statements, including,
without limitation, statements concerning clinical trial plans and
progress, objectives and expectations, clinical activity timing,
intended product development, the performance and contribution of
certain individuals and expected timing of collecting and analyzing
treatment data, all of which involve certain risks and
uncertainties. These statements are often, but are not always, made
through the use of words or phrases such as "anticipates,"
"intends," "estimates," "plans," "expects," "we believe," "we
intend," and similar words or phrases, or future or conditional
verbs such as "will," "would," "should," "potential," "could,"
"may," or similar expressions. Actual results may differ
significantly from the expectations contained in the
forward-looking statements. Among the factors that may result in
differences are the inherent uncertainties associated with the
closing of the offering described herein, Aastrom's intended use of
proceeds in connection with the offering, clinical trial and
product development activities, regulatory approval requirements,
competitive developments, and the availability of resources and the
allocation of resources among different potential uses. These
and other significant factors are discussed in greater detail in
Aastrom's Registration Statement on Form S-1 described above,
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and
other filings with the Securities and Exchange Commission. These
forward-looking statements reflect management's current views and
Aastrom does not undertake to update any of these forward-looking
statements to reflect a change in its views or events or
circumstances that occur after the date of this release except as
required by law.
CONTACT: Media contact:
Andrea Coan
Berry & Company
acoan@berrypr.com
(212) 253-8881
Investor contact:
Chad Rubin
The Trout Group
crubin@troutgroup.com
(646) 378-2947
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