BioMimetic Therapeutics (BMTI) Plunges on FDA Approval Concerns

Shares of BioMimetic Therapeutics Inc. (NASDAQ:BMTI) took a beating Tuesday, ending up the biggest loser as measured by percentages on the day.

The company lost over a 35 percent of its share value on over fears that a Food and Drug Administration panel will vote against approving the company's Augment bone graft.

BioMimetic Therapeutics, Inc., a biotechnology company, participates in the development and commercialization of regenerative protein therapeutic-device combination products for the treatment of musculoskeletal injuries and conditions affecting bones, tendons, ligaments, and cartilage.

BioMimetic Therapeutics (BMTI) ended the session at $8.66, plunging $4.73, or 35.32 percent.