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news.BioMimetic Therapeutics, a developer and marketer of regenerative protein therapeutic-device combination products, has reported a net loss of $12.2 million, or $0.65 per share, for the fourth quarter of 2008, compared to a net loss of $6.9 million, or $0.37 per share, for the same period in 2007.
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For the 12 months ended December 31, 2008, the company reported a net loss of $8 million, or $0.43 per share, compared to a net loss of $24.6 million, or $1.37 per share, for 2007.
For the three months ended December 31, 2008, the company reported revenues of $1.8 million, compared to $4.5 million for the three months ended December 31, 2007. For the 12 months ended December 31, 2008, total revenues were $3.15 million, compared to $7.03 million for 2007.
Samuel Lynch, president and CEO of BioMimetic Therapeutics, said: “We finished 2008 strong and are now well positioned to file the preclinical and manufacturing/quality pre-market approval modules for Augment very soon, followed by the clinical data package once our six-month patient follow-up is completed later this year.
“Further, the allowance of our patent last fall is a major step in building our intellectual property position and will enable us to exclude potential competitors from marketing similar or generic versions of Augment, Augment Injectable, GEM 21S and potentially other products the company has in development until at least June 2025.”