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.