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Osiris Therapeutics (OSIR), trends higher Again

OSIR closed trading up $0.11 or 1.54% to $7.24 ….. having opened at $7.18 with a market cap of  $237.40M.                                                                       
  • The day range was $7.15 to $7.40 and volume was 121,077 shares compared to a 10 day average vole of 61,578 shares.

The Bottom Line: Referencing, our blogs of 2/2/11, 2/7/11 and 2/17/11: OSIR’s share price continues to appreciate with 4 Directors buying shares on 2/14/11. The likelihood of Prochymal for GvHD being Health Canada/FDA approved appears to have a  chance to succeed. No news is good news! Not being approved would not have a profound effect going forward with other indications. Until approval happens all things are possible in the short term. With approval they have the income to fund further development, without approval it’s a longer time period. The possibility exists that Sanofi might terminate the GENZ deal and OSIR goes it alone.

Disclosure: I have no positions in OSIR, and no plans to initiate any position.