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Why Osiris Therapeutics is up 50 Percent (OSIR)

Osiris Therapeutics (NASDAQ: OSIR) is up nearly 50 percent in premarket trading after the company announced that its wound closure device, Grafix, met the per-speficied stopping rules for overwhelming efficacy.

Graphix, which resembles a very thin, clear bandage, was tested on patients with chronic diabetic foot ulcers. The study found that 62 percent of patients receiving Graphix saw complete wound closure versus only 21 percent of those who did not. The trial also met secondary endpoints of demonstrating faster wound closure and a reduction in the number of treatments needed to reach that goal.

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“Today, Osiris has established a new standard in diabetic wound care and has demonstrated to the world the tremendous impact stem cell products can have in medicine,” said C. Randal Mills, Ph.D., Chief Executive Officer. “Diabetic foot ulcers afflict 25% of all diabetics and are responsible for more hospitalizations than any other diabetic complication. With 25 million diabetics in the United States, the cost to our health care system is enormous. Through this rigorous study we have shown that Grafix can heal more patients, in less time, and with fewer complications.”

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Disclosure: At the time of this writing, the author had no position in the company mentioned.

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