Global Hunter Securities Starts Aastrom Biosciences (ASTM) at Speculative Buy; Ixmyelocel-T a Potentially Significant Driver
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Price: $2.77 --0%
Rating Summary:
8 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 3 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Global Hunter Securities initiates coverage on Aastrom Biosciences (NASDAQ: ASTM) with a Speculative Buy. PT $6.00.
Global analyst says, "ASTM is developing cell-based therapies for use in the repair and regeneration of damaged tissue. The company’s lead drug candidate is ixmyelocel-T, an autologous multicell therapy derived from a patient's bone marrow. If successful, we believe ixmyelocel-T could represent an important advance for difficult-to-treat diseases such as critical limb ischemia (CLI) and dilated cardiomyopathy (DCM). Preliminary data from both indications suggest signals of efficacy on multiple endpoints. The company recently reached an agreement with the FDA on an SPA for the first of two planned phase III CLI trials. We anticipate that the first trial will begin in 4Q11 and a second trial could begin in 1H12. If the trials succeed, ASTM could be in a position to launch ixmyelocel-T in the 2015 timeframe, by our estimate. We estimate U.S. ixmyelocel-T sales of approximately $440MM in 2019."
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 $2.23 yesterday.
Global analyst says, "ASTM is developing cell-based therapies for use in the repair and regeneration of damaged tissue. The company’s lead drug candidate is ixmyelocel-T, an autologous multicell therapy derived from a patient's bone marrow. If successful, we believe ixmyelocel-T could represent an important advance for difficult-to-treat diseases such as critical limb ischemia (CLI) and dilated cardiomyopathy (DCM). Preliminary data from both indications suggest signals of efficacy on multiple endpoints. The company recently reached an agreement with the FDA on an SPA for the first of two planned phase III CLI trials. We anticipate that the first trial will begin in 4Q11 and a second trial could begin in 1H12. If the trials succeed, ASTM could be in a position to launch ixmyelocel-T in the 2015 timeframe, by our estimate. We estimate U.S. ixmyelocel-T sales of approximately $440MM in 2019."
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 $2.23 yesterday.
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