Aastrom Biosciences (NASDAQ:
ASTM -
News) announced before the bell this morning that its Bone Repair Cells (BRCs) showed positive results in a compassionate use study. Patients in the study suffer from severe craniofacial defects. Dr. Jose Mendonca, Director of the Head and Neck Surgery Unit of Spain's Hospital POLUSA, called the outcome of the study "very satisfactory" in a press release. Dr. Mendosa continued, "We observed early bone formation in the afflicted areas that eventually resulted in a complete healing." Shares are flying by 27% on the news.