Oppenheimer Reiterates Perform Rating for Aastrom Biosciences

In a company update published earlier today, Oppenheimer Holdings reiterated its Perform rating for Aastrom Biosciences, Inc.

, but did not name a price target. Oppenheimer said in its report “Yesterday, Aastrom reported financial results for 1Q12 and provided a clinical update. The financial results were not significant in our view. With recent financing, Aastrom recently commenced the REVIVE-CLI study, in line with guidance. The company estimates enrollment in 18 months, and plans to provide detailed quarterly enrollment updates. Additionally, just yesterday the company presented final results for the DCM program, and plans to launch a Phase IIb study in mid-2012. We believe that management is executing well on the clinical development plan and maintain our Perform rating at this time.” Aastrom Biosciences, Inc. closed yesterday at $2.51.