BioMimetic Therapeutics Up $24.28% on July 10


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BioMimetic Therapeutics Inc. is up 24.28%, or $0.68 per share, after the company announced that it has submitted information to the FDA related to its application for approval of its bone-graft product, Augment. Previously, the Food and Drug Administration had declined the marketing of the product, asking for additional safety data from a late-stage trial. At the bell, BTMI was up 14%, to $3.19.

BioMimetic Therapeutics is a biotech company utilizing recombinant human platelet-derived growth factor as its primary technology platform. Biomimetic Therapeutics Inc. has a market cap of $79.8 million; its shares were traded at around $3.3 with and P/S ratio of 46.3.

CEO Samuel Lynch increased his positions in BMTI during the first quarter of 2012. In total, he purchased about $83,000 shares of the company at an average price of $2.40. Additional, the company's CFO also increased his positions in the company in the first quarter of 2012.

No gurus currently hold any stakes in BMTI.

Since BMTI went public in 2006, the company has consistently negative earnings per share. Revenue per share has seen dramatic decreases, from $0.26 in 2006 to $0.06 in 2011. The company reported a loss in 2011 of $1.19 per share. The company has $61 million in cash and no long-term debt.

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This article appears in: Investing

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