UPDATE: Loewen, Ondaatje, McCutcheon Initiates BioMimetic Therapeutics at Buy on Regulatory Tailwinds

Loewen, Ondaatje, McCutcheon initiated its coverage on BioMimetic Therapeutics

with a Buy rating and a $7.50 price target. Loewen, Ondaatje, McCutcheon commented, "BioMimetic Therapeutics is a development-stage regenerative medicine company focused on the $1+ billion orthobiologics market. Its lead product candidate is Augment which is designed as an alternative to autograft in foot and ankle fusion surgery. While Augment has endured a challenging regulatory review, the recently submitted PMA amendment provides us with a higher degree of confidence it will receive FDA approval." BioMimetic Therapeutics closed at $3.82 on Wednesday.