Good and Bad news for Aastrom Biosciences today. Shares dropped heavily after Reuters reports that Aastrom's potential stem cell therapy did not meet a secondary endpoint for it's Phase II clinical trial for the treatment of Critical Limb Ischemia which can cause amputation in those who suffer from the disease. I have seen this a few times lately, where a stock receives generally positive news, only to come crumbling down. Aastrom simply rose too fast, too soon.
Yahoo Finance: Aastrom Biosciences--(ASTM)
Aastrom Ischemia Therapy Data Disappoint; Shares Tank
* Says study meets main safety and efficacy goal
* Did not show significant amputation free survival
* Shares fall 36 pct
Nov 18 (Reuters) - Aastrom Biosciences Inc (ASTM.O) reported its experimental ischemia treatment met its main goals, but the company's shares, which had soared in anticipation of the data, crashed as the secondary goal of the trial was not met.
The study met the primary goals of safety and efficacy in patients with critical limb ischemia (CLI), a cardiovascular condition that often leads to amputation of the limbs.
CLI is a painful condition caused by obstructions in the arteries that decreases blood flow to the limbs with no medical therapy available at present.
