BioMimetic Therapeutics Reports 2008 Fourth Quarter and Year End Results

Share this story with your network

BioMimetic Therapeutics, Inc. (NASDAQ: BMTI) today reported its financial results as of and for the three and twelve months ended December 31, 2008. For the three months ended December 31, 2008, the Company reported a net loss of $12.2 million or $(0.65) per share, compared to a net loss of $6.9 million, or $(0.37) per share, for the same period in 2007. For the twelve months ended December 31, 2008, the Company reported a net loss of $8.0 million, or $(0.43) per share, compared to a net loss of $24.6 million, or $(1.37) per share, for 2007. The net loss for the three months ended December 31, 2008 includes a $3.2 million non-cash impairment charge on the Company’s investments in auction-rate securities. The net loss for the twelve months ended December 31, 2008 includes a $13.4 million non-cash impairment charge on the Company’s investments in auction-rate securities. The charge is classified as other-than-temporary impairment investment loss in the consolidated statements of operations for the three and twelve months ended December 31, 2008. The Company ended the year with $97.4 million of cash and cash equivalents and investments, including $46.6 million in auction rate securities that are currently not liquid.

**READ MORE HERE**

Leave a Comment

Your email address will not be published. Required fields are marked *

*