BioMimetic Therapeutics Pops 10% on Positive Trial Results
Shares of BioMimetic Therapeutics (NASDAQ: BMTI) are seeing increased strength during Friday's trading session after a clinical trial met its primary endpoint.
Dr. Timothy Daniels, professor of orthopedic surgery at the University of Toronto, presented today the results of a Canadian registration study comparing Augment Injectable Bone Graft to autograft in foot and ankle fusion surgery. Augment Injectable is an injectable bone graft developed by BioMimetic Therapeutics.
As presented by Dr. Daniels, the trial met its primary endpoint of non-inferiority of AIBG to autograft as assessed by CT scan at six months.
Dr. Daniels reported that assessment of the primary endpoint revealed that 53/63 (84.1%) of the AIBG-treated patients and 100/154 (64.9%) of the autograft-treated patients were fused as determined by six month CT scans (p<0.001). Patients were followed clinically for 52 weeks, at which time 57/63 (90.5%) of the Augment Injectable patients and 120/154 (77.9%) of autograft patients achieved clinical success (p<0.001).
Currently, shares of BioMimetic Therapeutics are trading up over 7% at $3.40 per share.
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