BioMimetic Therapeutics Rallying After FDA PMA Submission

BioMimetic Therapeutics

is trading higher on the session following its announcement to submits Augment bone graft PMA amendment to the FDA. Augment bone graft is used as an alternative to autograft in hindfoot and ankle fusion procedures. Dr. Samuel Lynch, president and CEO of BioMimetic Therapeutics stated, “We are pleased with the quality and thoroughness of the information we have provided in our response to the FDA's requests. It is our view that the additional data provide sound scientific evidence, in many cases even stronger than that from the previously available data, demonstrating reasonable assurance of Augment's safety and effectiveness while sparing patients the pain and morbidity associated with procuring autograft.” BioMimetic Therapeutics is currently trading at $3.36, a gain of $0.56 or 19.97%.