BioMimetic Therapeutics higher despite Q4 loss
Shares of BioMimetic Therapeutics, Inc. (Nasdaq: BMTI) opened in the red but managed to climb into positive territory despite news of a wider fourth-quarter loss. The Franklin, Tenn.-based maker of products for the healing of musculoskeletal injuries and disease reported after the close on Wednesday that its loss for the three months ended Dec. 31, 2007, was $6.9 million or $0.37 per share, compared with a net loss of $5.3 million, or $0.34 per share, for the same period in 2006.
Six analysts polled by Thomson Financial were expecting a net loss of $0.31 per share.
At 1:34 p.m. ET, the stock was up $0.59, or 5%, to $13.49. For detailed price information and recent news stories about BioMimetic Therapeutics, click BMTI.
