McNicoll Lewis & Vlak on Aastrom Biosciences' (ASTM) Phase II Results; Ixmyelocel-T Autologous Stem Cell Therapy Improves Heart Function
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Price: $0.57 -3.39%
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade ASTM Now!
McNicoll Lewis & Vlak maintains a 'Buy' on Aastrom Biosciences (NASDAQ: ASTM) price target of $7.50.
MLV analyst says, "This morning at the annual meeting of the 15th Annual Heart Failure Society of America Scientific Meeting in Boston, MA, Dr. Amit N. Patel, associate professor of surgery at the University of Utah School of Medicine, presented 12-month follow up results from Aastrom’s Phase II IMPACT-DCM clinical trial in a poster presentation."
"Twenty-one of 25 (84%) patients in the ixmyelocel-T group and seven of 15 (47%) patients in the control group completed the 12-month visit. An additional 5 of 15 (33%) patients in the control group enrolled into the extension phase of the study and received ixmyelocel-T treatment. The effect of ixmyelocel-T treatment on IDC was quite variable, with no apparent benefit or harm. In contrast, ixmyelocel-T treatment reduced the major adverse cardiac event rate (MACE) to 50% from 71.4% in the control group. Two of these events were perioperative. More patients in the treated group also had improved NYHA scores, an increase in the 6-minute walk test, and an increase in septal thickness."
"In our view, these results, taken together with previously reported results of ixmyelocel-T treatment of patients with critical limb ischemia, provide compelling evidence that Aastrom’s processed autologous stem cells are capable of regenerating tissue such that a clear clinical benefit can be achieved. Based on these results, we expect the next trial to enroll only the more responsive ICM patients, with ixmyelocel-T delivered by catheter to avoid the risk of perioperative adverse events."
For more ratings news on Aastrom Biosciences click here and for the rating history of Aastrom Biosciences click here.
Shares of Aastrom Biosciences closed at $2.59 yesterday, with a 52 week range of $1.42-$4.45.
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MLV analyst says, "This morning at the annual meeting of the 15th Annual Heart Failure Society of America Scientific Meeting in Boston, MA, Dr. Amit N. Patel, associate professor of surgery at the University of Utah School of Medicine, presented 12-month follow up results from Aastrom’s Phase II IMPACT-DCM clinical trial in a poster presentation."
"Twenty-one of 25 (84%) patients in the ixmyelocel-T group and seven of 15 (47%) patients in the control group completed the 12-month visit. An additional 5 of 15 (33%) patients in the control group enrolled into the extension phase of the study and received ixmyelocel-T treatment. The effect of ixmyelocel-T treatment on IDC was quite variable, with no apparent benefit or harm. In contrast, ixmyelocel-T treatment reduced the major adverse cardiac event rate (MACE) to 50% from 71.4% in the control group. Two of these events were perioperative. More patients in the treated group also had improved NYHA scores, an increase in the 6-minute walk test, and an increase in septal thickness."
"In our view, these results, taken together with previously reported results of ixmyelocel-T treatment of patients with critical limb ischemia, provide compelling evidence that Aastrom’s processed autologous stem cells are capable of regenerating tissue such that a clear clinical benefit can be achieved. Based on these results, we expect the next trial to enroll only the more responsive ICM patients, with ixmyelocel-T delivered by catheter to avoid the risk of perioperative adverse events."
For more ratings news on Aastrom Biosciences click here and for the rating history of Aastrom Biosciences click here.
Shares of Aastrom Biosciences closed at $2.59 yesterday, with a 52 week range of $1.42-$4.45.
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