UPDATE: Wedbush Terminates Coverage on BioMimetic Therapeutics on Acquisition by Wright Medical

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In a report published Monday, Wedbush terminated its coverage on BioMimetic Therapeutics (NASDAQ: BMTI).Wedbush noted, “Wright Medical (WMGI:NASDAQ, Not Rated) announced that it has completed its acquisition of BMTI. Wright paid $1.50/share in cash and 0.2482 shares per share of BMTI. Future payments potentially totaling $6.50/share include $3.50/share for FDA approval of ABG, $1.50/share for 12 month trailing cumulative sales of $40 million for all BMTI products and $1.50/share for 12 month trailing cumulative sales of $70 million for al BMTI's products. BMTI's Q3:12 cash was $44.3M and we estimated YE:12 cash at $40 million.”BioMimetic Therapeutics closed on Friday at $9.49.

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