BioMimetic Therapeutics Preps For 2011

JP Morgan has published a research report on BioMimetic Therapeutics

as the company prepares for 2011 after reporting 3Q results last night after market close. In the report, JP Morgan writes "The company is optimistic it could receive an update from FDA on panel timing by year-end, and is currently preparing for the meeting. We continue to forecast Augment approval in the U.S. in 4Q11, and our estimates and sales trajectory are unchanged ($104M in 2013E). FDA will likely post its generic meeting schedule for 2011 in the late November/December time frame. Although we won't yet have specifics at that time, the sub-committee schedule could give some indication as to when we might anticipate the Augment panel." JP Morgan maintains its Overweight rating and has raised the price target from $15 to $16. BioMimetic Therapeutics closed yesterday at $11.54.