Wright Medical Group, Inc. CVR (WMGIZ)

[renoldman]

You guys are kind of funny hoping randomly for $0.40 ... Especially when you don't know what the CRV is based on ....

Here is the information .... so you can have a clue as to what you are looking at.

http://phx.corporate-ir.net/phoenix.zhtml?c=129751&p=irol-newsArticle&ID=1760038&highlight=

"Any contingent milestone payments will be paid in cash. The CVR payments to BioMimetic shareholders are structured as follows:

$3.50 per share upon FDA approval of Augment® Bone Graft;
$1.50 per share upon the achievement of $40 million in trailing twelve month sales for all products contributed by BioMimetic;
$1.50 per share upon the achievement of $70 million in trailing twelve month sales for all products contributed by BioMimetic."

Today: "Wright Medical Group, Inc. Announces Receipt of FDA Not Approvable Letter for Augment® Bone Graft"

Could be a bit of time before $3.50 is realized, if at all.