Osiris Therapeutics, Inc. Shares Rose On Nod For Wound Treatment Reimbursement-Reuters

Reuters reported that shares of Osiris Therapeutics, Inc. rose 15% on May 30, 2012, after U.S. health regulators said the stem cell technology company's wound treatment was eligible for reimbursement when used in hospitals in out-patient settings or in ambulances. The Center for Medicare & Medicaid Services also cleared the pathway for a permanent reimbursement code for Grafix, Osiris's wound-care matrix containing stem cells, on May 29, 2012. A permanent code makes reimbursement for the treatment faster and easier, thus increasing the chances of a physician prescribing it. Osiris said if the permanent reimbursement code for Grafix was approved, it could become effective from January next year.