Aastrom Biosciences Inc., a biotech company which focuses on regenerative medicine, said Wednesday its fiscal fourth-quarter loss widened as costs and expenses expanded by 39 percent.

The loss for the quarter ended June 30 was $4.3 million, or 4 cents per share, compared with $3.36 million, or 3 cents per share. Average diluted shares outstanding amounted to 117.1 million versus 102 million a year ago.

Revenue grew to $328,000 from $96,000 on higher grant revenue, while total costs and expenses rose to $5.13 million from $3.7 million, reflecting more spending on research and development as well as higher staffing and legal costs.

On average, three analysts surveyed by Thomson Financial forecast a loss of 4 cents per share and revenue of $160,000.

For the fiscal year, the loss widened to $16.5 million, or 15 cents per share, on revenue of $863,000.

At June 30, Aastrom Biosciences had $43 million in cash, cash equivalents and short-term investments, an improvement from $32.4 million last year.