02-05-2007 1:10 PM — Shares of BioMimetic took off early today, climbing to an all-time high of $17.07 this morning. Since that peak shares have fallen through the day, and they were changing hands at $15.80 as of 1:04 p.m., up 7.85 percent on the day. Trading volume is roughly twice the usual rate.
Though the share price in the Franklin biotech company has been notriously volatile, the general trend since the company's initial public offering last May has been positive. The stock, which hit its low point of $6.20 in July after coming out at an IPO price of $9.00, saw drastic gains in September through October. Since then the stock has seen more than its share of large price swings in both directions, but shares have remained above $11.
Recently the company has announced positive results for clinical trials testing the efficacy of its bone healing drug-device combo.
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