Osiris Therapeutics counters report questioning sales
LORRAINE MIRABELLA, 23 January 2016
Its stock is off two-thirds from its summertime high, its auditor quit and it’s restating earnings. The past few months have not been friendly to Osiris Therapeutics, a Columbia-based company that’s considered one of the state’s most promising biotechnology firms.
Osiris, known for its stem cell-based products, is in the midst of transitioning from a research firm into a commercial enterprise and making strides with products such as Grafix, a human tissue product that treats chronic wounds such as foot ulcers. But after showing much promise, Osiris, which takes its name from the Egyptian god of death and regeneration, faces uncomfortable questions about its recent missteps. Several shareholders have sued and postings on financial advice websites voice continuing doubts about its sales and financial reports.
