BioMimetic looks to build war chest

Franklin biotech files $150M shelf

BioMimetic Therapeutics has filed papers with the Securities and Exchange Commission to raise up to $150 million from the sale of equity or debt.

The Franklin-based company said the proceeds from offerings under its shelf registration could be used for a wide range of purposes, including working capital, marketing and sales, clinical trials and R&D spending. The company has in recent months been making strides on the clinical front, where it is running trials and working with regulators to get its Augment bone graft treatment to market.

BioMimetic has the ability to sell up to 15 million shares of preferred stock and some 70 million common shares. The company also has no long-term debt on its balance sheet, although it does have $13 million in deferred revenue on its books.

Shares of BioMimetic (Ticker: BMTI) closed Tuesday at $3.24, up about 1 percent on the day. Year to date, they've risen about 14 percent.