Aastrom Biosciences (ASTM) is Free Falling

Aastrom Biosciences (ASTM) hit a new 52-week low of $0.61 yesterday (02013.04.29). I looked for recent news and came across the headline: Aastrom files to sell $25M in common at stocktheflyonthewall.com. I did not find any follow-up news, but I suspect the headline is accurate. What a bummer to have to sell part of the company at such a low stock price. These days it is generally regarded as bad news when a company has to sell shares to raise money.

ASTM closed at $0.62 on 02013.04.29. 52-week range: $0.61 - $2.61.