Aastrom Biosciences ends drug trial, to cut half its workforce

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Aastrom Biosciences ends drug trial, to cut half its workforce

By Vrinda Manocha (Reuters) - Aastrom Biosciences Inc said it would end the late-stage trial of its drug to treat critical limb ischemia (CLI), a form of peripheral arterial disease, and cut about half of its workforce, driving its shares to an all-time low. The stock was down 34 percent at 75 cents in morning trade on the Nasdaq. The company now plans to focus on developing the drug, ixmyelocel-T, as a treatment for a heart condition called dilated cardiomyopathy (DCM), in which the heart becomes weak and cannot pump blood efficiently. "... ...

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