SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K/A
Amendment No. 2

þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

The fiscal year ended June 30, 2007

OR

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

Commission File Number 0-22025

AASTROM BIOSCIENCES, INC.

(Exact name of registrant as specified in its charter)

Michigan	94-3096597
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

24 Frank Lloyd Wright Drive
P. O. Box 376
Ann Arbor, MI 48106
(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (734) 930-5555

Securities registered pursuant to Section 12(b) of the Act:

Title of Class	Name of Each Exchange on Which Registered
Common Stock ($0 par value)	The Nasdaq Stock Market, Inc.

Securities registered pursuant to Section 12(g) of the Act:
None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes o No þ

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes o No þ

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No o

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. þ

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer — o	Accelerated filer — þ		Non-accelerated filer — o	Smaller reporting company — o
		(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes oNo þ

The approximate aggregate market value of the registrant’s Common Stock, no par value (“Common Stock”), held by non-affiliates of the registrant (based on the closing sales price of the Common Stock as reported on the Nasdaq Capital Market) on December 31, 2006 was approximately $147 million. This computation excludes shares of Common Stock held by directors, officers and each person who holds 5% or more of the outstanding shares of Common Stock, since such persons may be deemed to be affiliates of the registrant. This determination of affiliate status is not necessarily a conclusive determination for other purposes.

As of August 31, 2007, 120,874,063 shares of Common Stock, no par value, were outstanding.

DOCUMENTS INCORPORATED BY REFERENCE

None.

TABLE OF CONTENTS

	ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULE
SIGNATURES
EXHIBIT INDEX
EXHIBIT 10.96
EXHIBIT 31.1
EXHIBIT 32.1

EXPLANATORY NOTE

     We are filing this amendment to our Annual Report on Form 10-K for the year ended June 30, 2007, originally filed with the Securities and Exchange Commission on September 13, 2007, solely for the purpose of filing a certain exhibit (Exhibit 10.96) that we inadvertently omitted from that filing and that is set forth below in Item 15.

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULE

(a) The following documents are filed as part of this Report:

3. Exhibits:

See Exhibit Index.

SIGNATURES

     Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.

Aastrom Biosciences, Inc.
By:	/s/ George W. Dunbar, Jr.
	George W. Dunbar, Jr.
	Chief Executive Officer and President (Principal Executive Officer)

EXHIBIT INDEX

Number	Notes
3.1	K	Restated Articles of Incorporation of Aastrom, as amended.
3.2	H	Bylaws, as amended.
10.1#	A	Form of Indemnification Agreement.
10.2#	A	Amended and Restated 1992 Incentive and Non-Qualified Stock Option Plan and forms of agreements thereunder.
10.3#	A	1996 Outside Directors Stock Option Plan and forms of agreements thereunder.
10.20#	A	Form of Employment Agreement.
10.21	A	License Agreement, dated July 17, 1992, between J.G. Cremonese and Aastrom and related addenda thereto dated July 14, 1992 and July 7, 1993.
10.26	A	License Agreement, dated March 13, 1992, between Aastrom and the University of Michigan and amendments thereto dated March 13, 1992, October 8, 1993 and June 21, 1995.
10.27#	A	Employee Proprietary Information and Invention Agreement, effective June 1, 1991, between Aastrom and R. Douglas Armstrong.
10.72#	B	Aastrom Biosciences 2001 Stock Option Plan.
10.76	C	Master Supply Agreement with Astro Instrumentation, LLC
10.77	E	Supply Agreement between Aastrom and Moll Industries, Inc., dated December 16, 2003.
10.78#	F	Employment Agreement with James Cour dated June 11, 2004.
10.80#	F	Employment Agreement with R. Douglas Armstrong dated August 27, 2004.
10.81#	F	Amended and Restated Employment Agreement with Brian Hampson dated August 27, 2004.
10.82#	F	2004 Equity Incentive Plan.
10.83#	G	Employment Agreement with Robert Bard dated March 1, 2005.
10.84#	H	Form of Option and Restricted Stock Award Agreements for Grants under 2004 Equity Incentive Plan
10.85	H	Employee Compensation Guidelines.
10.86#	H	Employment Agreement with Gerald D. Brennan, Jr. dated June 10, 2005.
10.87	H	Amendment dated December 5, 2002 to License Agreement with the University of Michigan.
10.88#	I	Revised Employment Agreement with R. Douglas Armstrong dated December 27, 2005.
10.89#	I	Revised Employment Agreement with James A. Cour dated January 12, 2006.
10.90#	J	Employment Agreement with George W. Dunbar, Jr. dated July 17, 2006.
10.91#	J	Consulting Agreement with R. Douglas Armstrong dated July 17, 2006.
10.92#	J	Separation Agreement with James A. Cour dated July 14, 2006.
10.93#	M	Summary of Changes to Employee Compensation Guidelines.
10.94#	L	2004 Equity Incentive Plan, as amended.

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Number	Notes
10.95#	L	Forms of Grant Notice and Stock Option Agreement for Grants under
10.96		Standard Lease between Aastrom and Domino’s Farms Office Park, L.L.C. dated January 31, 2007.
21		Subsidiaries of Registrant.*
23.1		Consent of Independent Registered Public Accounting Firm.*
31.1		Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1		Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

A	Incorporated by reference to Aastrom’s Registration Statement on Form S-1 (No. 333-15415), declared effective on February 3, 1997.
B	Incorporated by reference to Aastrom’s Annual Report on Form 10-K for the year ended June 30, 2002.
C	Incorporated by reference to Aastrom’s Annual Report on Form 10-K for the year ended June 30, 2003.
D	Incorporated by reference to Aastrom’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2005.
E	Incorporated by reference to Aastrom’s Annual Report on Form 10-K for the year ended June 30, 2004.
F	Incorporated by reference to Aastrom’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2004.
G	Incorporated by reference to Aastrom’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2005.
H	Incorporated by reference to Aastrom’s Current Report on Form 8-K filed on September 12, 2007.
I	Incorporated by reference to Aastrom’s Quarterly Report on Form 10-Q for the quarter ended December 31, 2005.
J	Incorporated by reference to Aastrom’s Current Report on Form 8-K filed on July 18, 2006.
K	Incorporated by reference to Aastrom’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2006.

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L	Incorporated by reference to Aastrom’s Current Report on Form 8-K filed on November 8, 2006.
M	Incorporated by reference to Aastrom’s Quarterly Report on Form 10-Q for the quarter ended December 31, 2006.
#	Management contract or compensatory plan or arrangement covering executive officers or directors of Aastrom.
*	Previously filed.

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