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 (OTC PINK: BSEM) is expanding its national sales force to boost sales of its perinatal tissue allografts. This strategic move comes as elective surgeries resume post-COVID-19 shutdowns, increasing demand for regenerative therapies. BioStem will add experienced sales representatives in key regions: Northeast, Midwest, and Mountain Region. The company specializes in utilizing perinatal tissue for regenerative medicine, leveraging proprietary technologies to enhance patient outcomes and shareholder value.
BioStem Technologies, Inc. (OTC PINK: BSEM) reported significant growth in Q4 2020 with sales of $1,037,823, up 147% from $420,389 in Q4 2019. For fiscal 2020, total sales reached $2.5 million, down slightly from $2.6 million in 2019, while net loss improved to $2.4 million from $6.3 million. Operating expenses decreased by 44.2% due to reduced stock-based compensation, despite increased direct sales costs. The company anticipates continued revenue growth associated with the vaccine rollout and a positive response from the FDA regarding its amniotic membrane allograft, VENDAJE™.
BioStem Technologies, Inc. (OTC PINK: BSEM) has engaged D. Brooks and Associates CPA's, P.A. as its PCAOB registered accounting firm for the fiscal years 2020 and 2019. The audit is expected to conclude in Q2 2021, after which the company may pursue full SEC reporting. CEO Jason Matuszewski emphasized that hiring a PCAOB auditor aligns with their capital market goals. BioStem focuses on regenerative therapies using perinatal tissue, demonstrating a commitment to enhancing shareholder value through innovative biotechnological approaches.