Biostem Tech Stock Price, News & Analysis

BioStem Technologies (OTCQB: BSEM) commends a recent report by the U.S. Department of Health and Human Services Office of Inspector General, highlighting the failure of the Centers for Medicare and Medicaid Services (CMS) to ensure accurate Average Sales Price (ASP) reporting for skin substitute products. The report reveals compliance issues that could affect payment accuracy. CEO Jason Matuszewski emphasizes the importance of accurate ASP reporting for patient access to effective treatments and fair reimbursement for providers. BioStem is committed to regulatory compliance and has implemented measures to ensure transparency in reporting.

BioStem Technologies Inc. (OTCQB: BSEM) announced its acquisition of the majority assets from Auxocell Laboratories, Inc., a leading manufacturer in solid tissue processing equipment. This acquisition includes all assets excluding the AUX003 patent family, which will be licensed to BioStem. The deal encompasses 45 patents and 11 trademarks related to human placental tissue applications. The acquisition aims to enhance BioStem's intellectual property portfolio and manufacturing capabilities while accelerating growth in regenerative medicine. CEO Jason Matuszewski emphasized the strategic value of Auxocell's technology in producing regenerative products without enzymatic digestion.

BioStem Technologies Inc. (OTCQB: BSEM) announced on February 14, 2023, a Share Exchange Agreement with M.W. Jens Realty Investments, LLC to acquire 10% of the issued shares of its subsidiary, Blue Tech Industries, Inc. The agreement comes after a four-year partnership aimed at developing BioStem's tissue allograft division. In exchange for the shares, BioStem will issue 500,000 new shares of its common stock. CEO Jason Matuszewski expressed commitment to the company’s direction through this agreement, highlighting its focus on regenerative therapies and innovative manufacturing processes.

BioStem Technologies Inc. (OTCQB: BSEM) has announced the appointment of Michael Sylvester as Vice President of Sales and Neal Bhattacharya as Vice President of Marketing, marking a strategic move for growth in the regenerative medicine sector. Sylvester brings over 20 years of experience in sales, having worked with notable organizations like Johnson & Johnson, while Bhattacharya has a strong marketing background with major brands such as Novartis. CEO Jason Matuszewski emphasized that this leadership enhancement aims to solidify BioStem's presence in advanced wound care and drive sales growth through effective market penetration and communication of product efficacy.

BioStem Technologies (OTCQB: BSEM) announced that the Center for Medicare Services has established national pricing for its product VENDAJE^TM, effective January 1, 2023. This change allows all Medicare providers across the U.S. to offer VENDAJE^TM for reimbursement, enhancing access for patients with non-healing lower extremity wounds. Previously, reimbursement was limited to select MAC regions. The national pricing streamlines the reimbursement process and may accelerate payment timelines. The company expressed optimism regarding payer coverage and the product's market rollout, which utilizes proprietary 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.