This quarter’s loss is less than the net loss during the first quarter of 2010, which was reported at $8.5 million. The company expects to increase its revenue outlook if the U.S. Food and Drug Administration approves its application for a Augment Bone Graft for the treatment of foot and ankle fusions. There will be an FDA advisory panel meeting this week to review the product’s premarket approval.
During this quarter, the company also initiated patient enrollment in its North American trial to evaluate Augment Injectable in hindfoot fusion indications. Research and development expenses for the first quarter totaled $4.1 million, slightly less than the same period last year.
Read the report on the first quarter financial results for BioMimetic Therapeutics.
Related Articles on BioMimetic Therapeutics:
BioMimetic Therapeutics Posts Flat 4Q Revenue at $400K
FDA to Review Premarket Approval Application for BioMimetic Therapeutics’ Augment Bone Graft
Millennium Research Group: Bone Graft Substitute Market to Reach $2.3B by 2015
