Aastrom reduces public offering of common stock to $15 million

Aegis Capital helps fund clinical development and preclinical studies

By Devika Patel

Knoxville, Tenn., July 25 - Aastrom Biosciences Inc. decreased its public offering of common stock to $15 million from $25 million, according to a Form S-1 filed Thursday with the Securities and Exchange Commission. The deal was announced April 29 and has a 45-day greenshoe.

Aegis Capital Corp. is the new bookrunner. JMP Securities was previously assisting.

Proceeds will be used for clinical development, preclinical studies and general corporate purposes, including internal development costs, working capital, general administrative costs and the prosecution and maintenance of intellectual property.

Aastrom is a biotechnology company based in Ann Arbor, Mich.

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