Welcome to our dedicated page for Biostem Tech news (Ticker: BSEM), a resource for investors and traders seeking the latest updates and insights on Biostem Tech stock.
BioStem Technologies, Inc. (OTC: BSEM) generates news that reflects its role as a MedTech company focused on placental-derived allografts for advanced wound care and regenerative therapies. Coverage of BSEM often centers on clinical trial milestones, reimbursement developments, financial reporting, and operational updates related to its BioRetain®-processed product portfolio, which includes brands such as AmnioWrap2™, VENDAJE®, VENDAJE AC®, VENDAJE OPTIC®, American Amnion™, and American Amnion AC™.
Investors and healthcare professionals following BSEM news can expect updates on randomized controlled trials and other clinical studies evaluating BioRetain-preserved placental allografts in chronic wound indications like diabetic foot ulcers and venous leg ulcers. The company has reported top-line clinical results from a multicenter randomized controlled trial in non-healing diabetic foot ulcers, as well as comparative studies versus standard of care and competitor products, and these types of announcements are key components of its news flow.
Another major theme in BioStem’s news is reimbursement and policy. The company regularly comments on Centers for Medicare & Medicaid Services (CMS) rules and Local Coverage Determinations affecting skin substitutes and cellular and tissue-based products. News items have addressed the placement of VENDAJE and VENDAJE AC in a “12-Month Status Quo” category under certain LCDs, the withdrawal of specific LCDs, and the inclusion of these products on Florida Medicaid’s list of covered skin substitutes, along with coverage in multiple state Medicaid programs.
Financial and corporate developments also feature prominently. BioStem has issued press releases on quarterly financial results, restated financial statements related to the treatment of bona fide services fees in a distribution agreement, and the appointment of a new independent registered public accounting firm. Operational news has included the purchase of land in the Research Park at Florida Atlantic University in Boca Raton, Florida, for a future headquarters, as well as partnerships to serve the U.S. Department of Veterans Affairs and community initiatives supporting veterans.
By monitoring this news page, readers can follow BioStem’s clinical evidence generation, reimbursement positioning, financial reporting, and strategic initiatives as they relate to its placental-derived advanced wound care products and BioRetain processing technology.
BioStem Technologies Inc. (OTCQB: BSEM) has successfully up-listed its shares from the OTC Pink Sheet to the OTCQB Venture Market on December 16, 2022. This milestone reflects the company's commitment to transparency and corporate governance, enhancing visibility and accessibility for U.S. investors.
CEO Jason Matuszewski emphasized the significance of this achievement in expanding their shareholder base and providing value to current shareholders. BioStem specializes in placental derived biologics and aims to leverage innovative processing methods to advance regenerative therapies.
BioStem Technologies (OTC: BSEM) announces its sponsorship with Kill Cliff Fight Club, one of the largest MMA training centers globally, located in Southern Florida. This partnership highlights BioStem's regenerative therapy products, aiming to enhance athlete recovery. Kill Cliff FC is home to over 80 professional fighters, including UFC champions. The collaboration intends to promote BioStem’s innovations in regenerative medicine, further integrating the company into the MMA community. Both parties express enthusiasm for the mutual benefits this partnership brings to athlete wellness and performance.
BioStem Technologies (OTC: BSEM) revealed its Q3 2022 financials, reporting net revenue of $1.145 million, a 13% decline from Q3 2021. Despite this, the gross profit margin improved to 74%, up from 59% last year, yielding a gross profit of $0.843 million. The net loss widened to $1.742 million compared to a loss of $0.622 million in the same period last year. Notably, the company is expanding its direct sales force and has added three new Medicare Administrative Contractors, increasing its market coverage to 50% of the U.S. The leadership team also experienced changes, including the appointment of a new CFO.
BioStem Technologies Inc. (OTC: BSEM), a regenerative medicine company, announced a conference call for November 15, 2022, at 4:30 pm EST to discuss its financial results for the quarter ending September 30, 2022. The call will include a corporate update and will be available via webcast. BioStem focuses on placental-derived biologics, utilizing its proprietary BioRetain® processing method. The company operates under strict quality management and is accredited by the American Association of Tissue Banks, ensuring compliance with industry standards.
BioStem Technologies Inc. (OTC PINK: BSEM) has appointed Michael Fortunato, CPA, as Chief Financial Officer, transitioning from his role as Controller. Fortunato brings over 28 years of experience in financial accounting, SEC reporting, and IPOs, notably participating in Alibaba's $22 billion IPO. CEO Jason Matuszewski highlights this as a pivotal moment for the company, emphasizing Fortunato's expertise in advancing BioStem's mission in wound care. The company is engaged in developing placental-derived tissue allografts using its proprietary BioRetain® method.
BioStem Technologies Inc. (OTC PINK: BSEM) announced that CEO Jason Matuszewski will present at the Dawson James Securities 2022 Small Cap Growth Conference on October 12, 2022, from 1:30-1:55 PM EDT. The event will take place in the Preserve Ballroom B. Management will also hold one-on-one meetings with investors throughout the conference. A live webcast of the presentation will be available, along with an archived recording accessible for 90 days on the company’s website. BioStem focuses on regenerative medicine, particularly placental-derived tissue allografts.
BioStem Technologies (OTC: BSEM) announced a guidance paper on growth factor standardization published in Health Science Reports. The paper highlights a new method to quantify growth factors in its Vendaje® and Vendaje AC® allografts, emphasizing the inadequacy of current reporting methods. The proprietary BioRetain® processing method retains the integrity of placental tissues and their growth factors. The CEO stated the commitment to advancing knowledge in wound care, while the R&D VP noted the significance of growth factor standardization for assessing product efficacy.
BioStem Technologies Inc. (OTC: BSEM) announced the appointment of Brandon Poe as an Independent Board Member and Chair of the Audit Committee as of September 7, 2022. CEO Jason Matuszewski emphasized Poe's extensive leadership experience in the biotech sector, expecting his insights to enhance their financial and regulatory frameworks. Poe brings over 25 years of financial experience from companies like Jumpcode Genomics and Illumina. The company aims to leverage his expertise to expand sales capabilities and product offerings in regenerative medicine.
BioStem Technologies (OTC: BSEM) reported strong financial results for Q2 2022, with net revenue of $2.158 million, marking a 133% increase year-over-year. The company achieved a gross profit of $1.773 million, an 82% margin, up from 52% in Q2 2021. Net income improved to $0.203 million, compared to a loss of $0.372 million last year. Year-to-date, revenues reached $4.936 million, up 173%. However, net losses increased to $0.654 million. The company is transitioning to a direct salesforce and expanding its product offerings in advanced wound care.
BioStem Technologies (OTC: BSEM) will host a conference call to discuss its financial results for Q2 2022 on August 22, 2022, at 4:30 PM EDT. The company specializes in regenerative medicine with a focus on placental derived biologics. BioStem's proprietary BioRetain® processing method is key to its product development. The conference call will be available via webcast, with questions submitted online only. BioStem has faced significant losses since inception and may incur future losses, which are potential areas of concern for investors.