The Franklin, Tennessee-based BioMimetic Therapeutics, Inc (NASDAQ:BMTI) reported on Monday that it submitted more data sought by health regulators for the marketing support of the corporation’s bone graft product, sending its shares high 14% after the bell.
The biotechnology corporation announced that it filed an amended application mentioning that the bone graft product, Augment, is not lesser to auto graft.
In January, the Food and Drug Administration refused to endorse marketing of BioMimetic’s bone graft product and requested more safety and efficacy data from a late-stage inquiry.
BioMimetic Therapeutics anticipates a final verdict from the controller between April 2013 and January 2014, though the Food and Drug Administration had a second round of queries.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Zimmer Holdings, Inc. (NYSE:ZMH) increased +1.75% to settle at $63.82, Stryker Corporation (NYSE:SYK) moved up +0.24% to end at $53.67 while Johnson & Johnson (NYSE:JNJ) jumped +0.21% to finish on Monday at $67.78.
BioMimetic Therapeutics, Inc. (NASDAQ:BMTI) last session volume of 128,630.00 shares was lower than its average volume of 275,243.00 shares. The stock after opening at $2.84 hit high price of $2.95 and then closed at $2.80 by scoring -1.06%.
BMTI generated revenue of 1.79 million in the following twelve months and earned -$31.35 million. The Company showed a negative -1749.04% in the net profit margin and as well as in its operating margin which remained -1753.65%. Company’s annual sales growth for the past five year was -16.04%.
The BMTI past twelve months price to sales ratio was 44.11 and price to cash ratio remained +1.45. As far as the returns are concern, the BMTI return on equity was recorded as -50.18% and dropped -40.67% return on investment while its return on asset stayed at -37.98%.
The stock showed weekly upbeat performance of +6.46% which was maintained for the month at +9.38%. Likewise the positive performance for the quarter was recorded as +4.87% and for the year was -38.05% while the YTD performance remained at -1.75%.
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