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AspenBio Pharma board approves $5 million buyback plan

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April 25, 2008

CASTLE ROCK, Colo.—AspenBio Pharma Inc., which develops drugs and diagnostics for humans and animals, said Friday its board authorized the repurchase of up to $5 million in stock.

The company plans to fund purchases with working capital, which currently totals about $25 million, and retire repurchased shares.

AspenBio Pharma has about 31.3 million shares outstanding.

In afternoon trading, the company's stock added 10 cents, or 2.5 percent, to $4.18. Shares have traded in a 52-week range of $3.75 to $15.16.

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