Investors are voicing their displeasure with a Tennessee company, after it failed to get approval for one of its products to be sold in the US. Stock in Wright Medical Group took a pounding when the FDA rejected a clinical trial for its bone graft substitute.
Post Tagged with: "Augment"
Sales and earnings are down at Memphis-based Wright Medical Group. The company is still waiting for its purchase of a Brentwood biotech firm to pay off.
For more than three years, BioMimetic has tried to get Augment approved for use in bone and ankle fusions. The new trial is taking a different approach, testing its effectiveness as a treatment for tendinosis (also known as tennis elbow).
The studies, tests, and research are done. Now, Franklin-based Biomimetic Therapeutics is ready to ask for FDA approval of its only product.