Aastrom Files At-the-Market Offering and New Shelf Registration Statement

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Aastrom Biosciences, Inc.
ASTM
today announced that it has filed a prospectus supplement to sell shares of its common stock, no par value per share, at an aggregate offering amount of approximately $20 million through an "at-the-market" offering. If utilized, the shares would be offered through McNicoll, Lewis & Vlak LLC as sales agent who, at Aastrom's discretion and instruction, will use its commercially reasonable efforts to sell the shares at market prices from time to time, including sales made by means of ordinary brokers' transactions on the NASDAQ Capital Market. Aastrom currently intends to use the proceeds from any sales related to the ATM offering to support general corporate purposes including the Phase 3 REVIVE clinical program for ixmyelocel-T, the company's expanded multicellular therapy. Sales in the ATM offering, if any, would be made pursuant to the prospectus supplement dated June 16, 2011, which supplements the company's prospectus dated November 12, 2010, filed as part of the effective shelf registration statement that Aastrom filed with the Securities and Exchange Commission (SEC) on November 12, 2010. The ATM offering will exhaust the November shelf registration statement. As a result, Aastrom has filed a new shelf registration statement with the SEC that will allow the company, from time to time, to offer and sell up to $100 million of its securities.
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Posted In: NewsOfferingsBiotechnologyHealth Care
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