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Big Mover; BioMimetic Therapeutics Inc. (BMTI)

By Warren Paige

Shares of BioMimetic Therapeutics Inc. (NASDAQ: BMTI), a biotechnology company engaged in the development and commercialization of products to promote the healing of musculoskeletal injuries and diseases, are soaring in trading today.

At last check, BMTI shares were trading 18.55% higher at $3.32 on above average volume of 630,076.

BMTI shares are gaining today after the company announced submission of additional data on its bone graft product, Augment, to the FDA. The company submitted the additional data to the FDA after the agency earlier this declined to approve marketing of Augment and asked for more safety and additional data from a late-stage trial.

BMTI expects the FDA to take a final decision on the product between April 2013 and January 2014.

Dr. Samuel Lynch, President and CEO of BioMimetic Therapeutics, said that the company is pleased with the quality and thoroughness of the information it has provided in its response to the FDA requests.

 

July 10th, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.