Aastrom Biosciences is in damage-control mode this morning after hackers broke into the company's Web site and posted a false press release announcing that the company was merging with biotechnology competitor Geron.
The false press release skyrocketed shares of both companies yesterday on Wall Street before the hack was exposed.
This morning, telephone inquiries to Aastrom's investor relations department were answered by a recording, informing callers that the information about the reported merger is "false and was not issued or authorized" by the company, which also had disabled its Web site.
Geron also posted a denial on its Web site. "There is no merger nor any strategic discussions with Aastrom," the company said.