Osiris Therapeutics (OSIR) was notified that its PROCHYMAL received FDA ‘Fast Track’designation, expediting thedevelopment of the stem cell treatment for Crohn’s Disease that fails to respond to standard therapies. This takes it to Phase III clinical trials, which will be the last trial stage prior to seeking FDA Approval if resukts are successful. OSIR shares are up almost 5% at$26.30 in after-hours and shares traded 3-times normal volume; the 52 week trading band is $9.84 to $27.93. OSIR is a recently public company that is up some 150% since the August IPO and its market cap is $685 now million before the after-hours pop. Jefferies just downgraded this on valuation to a Hold last week, so much of this may already be refelcted in today’s prices.
Jon C. Ogg January 8, 2007
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