Stock Movers on FDA Decision (BMTI, AVII, PGNX, MRX)

BioMimetic Therapeutics, Inc. (Public, NASDAQ:BMTI) rose 3.30% to $9.47 on heavy volume after announced that it has completed a 100-day Premarket Approval Application (PMA) meeting with the Food and Drug Administration (FDA) regarding the review of Augment Bone Graft. Augment is used for the treatment of foot and ankle fusions in the U.S.

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The FDA has also completed review of the Company’s request for designation (RFD) for Augment Injectable Bone Graft.

AVI BioPharma, Inc. (Public, NASDAQ:AVII) rose 3.80% to $2.19 on heavy volume after the company announced today that they have received a patent from the USPTO which covers the use of phosphorodiamidate morpholino based oligomers (PMOs) as antibacterial agents.

According to the release: "The patent, titled Antisense Antibacterial Method and Compound (No. 7,790,694), contains broad claims for the use of peptide-conjugated phosphorodiamidate morpholino oligomers (PPMOs) to target the acyl carrier protein (AcpP), a gene considered essential for bacterial growth in both gram positive and gram negative bacteria."

Progenics Pharmaceuticals, Inc. (Public, NASDAQ:PGNX) rose 3.07% to $4.37.after the company said it initiates a 700-patient oral methylnaltrexone phase 3 in patients with chronic, non-cancer pain who are experiencing constipation as a result of their opioid-pain management regimens.

The goal is to evaluate the safety and efficacy of oral methylnaltrexone to treat opioid-induced constipation (OIC) in this patient setting.

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Medicis Pharmaceutical Corporation (Public, NYSE:MRX) rose 0.93% to $29.40 after it announced that the US Patent and Trademark Office has issued U.S. Patent No. 7,790,705 for the usage of SOLODYN® (minocycline HCI, USP) Extended Release Tablets. The new patent, entitled "Minocycline Oral Dosage Forms for the Treatment of Acne," relates to the use of dosage forms of SOLODYN which provide approximately 1 mg/kg dosing based on the body weight of the person, and expires in 2027.

Medicis Pharmaceutical Corporation (Medicis) is a specialty pharmaceutical company focusing primarily on helping patients attain a healthy and youthful appearance and self-image through the development and marketing in the United States of products for the treatment of dermatological and aesthetic conditions.

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