On July 30, 2012, Aastrom Biosciences, Inc. (the "Company") issued a press release announcing the results of its previously announced offer to exchange (the "Exchange Offer") any warrant to purchase shares of common stock, no par value per share, of the Company issued in connection with the Company's December 2010 public offering, that was tendered and accepted, for shares of the Company's common stock. Such Exchange Offer was made upon the terms and subject to the conditions set forth in the Company's offer to exchange, dated June 28, 2012, and in the related Exchange Offer materials filed as exhibits to the Tender Offer Statement on Schedule TO originally filed with the Securities and Exchange Commission on June 28, 2012, as amended. The Exchange Offer expired at 5:00 p.m., Eastern Standard Time, on Friday, July 27, 2012.

The press release is attached hereto as Exhibit 99.1 hereto and incorporated herein by reference.

(d) Exhibits.

Exhibit
Number                Description
   99.1   Press Release, dated July 30, 2012.