BioMimetic Huge Gains Reverse Last Night Losses (BMTI)

Posted in after-hours, pre-market 
October 14th, 2009

BioMimetic Therapeutics, Inc. (NASDAQ: BMTI) was crushed after the close, yet we have shares trading higher this morning.  The company announced “positive top-line data from its Augment bone graft North American pivotal trial”… It seems last night to not be enough for what was expected.  Shares closed at $12.69 yesterday and fell by 8.5% to $11.61 as the biggest loser last night.  Yet this morning we have shares soaring by almost 13% at $14.30 on over 110,000 shares as of 8:16 AM EST.  Average volume is only about 95,000 shares.

UPDATE 9:06 AM EST: up 20% at $15.26 and on 655,000 shares of stock…. stay tuned here.

JON C. OGG

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