Aastrom seeks to raise $12.5 million in stock and warrants exercise:
This article was originally published in Clinica
Aastrom Biosciences (Ann Arbor, Michigan) yesterday announced a common stock placement worth around $9.1m. 8 million shares are being placed with institutional investors at $1.14 per share. The company will also issue warrants that could generate a further $3.4m in revenues. Aastrom and its wholly-owned subsidiary Zellera are optimistic that a second bone-graft trial announced last week will demonstrate the effectiveness of the group's tibial repair technology.
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