08:52 AM EDT, 03/27/2013 (MidnightTrader) -- Aastrom Biosciences (ASTM:$1.15,00$-0.03,00-2.54%) trading is halted and set to resume at 915 ET. The company says it is shifting its strategy in research and development to focus on the clinical development of its lead product, ixmyelocel-T, to treat dilated cardiomyopathy.
As a result, it will stop enrollment and end the Phase 3 REVIVE clinical trial in patients with critical limb ischemia (CLI). In addition, the company is executing a corporate restructuring that will reduce staff and operating expenses by approximately 50%.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.