BSTG Stock Price, News & Analysis

Biostage, Inc. (OTCQB: BSTG) announced a court ruling in its favor against its insurance carrier, Medmarc, which breached its duty by stopping payment for Biostage's legal defense in a case involving a deceased patient treated with a Biostage Tracheal Implant. The court affirmed Medmarc's unlawful conduct and required it to continue funding Biostage's defense until the dispute is resolved. The ruling includes an award for Biostage's attorneys' fees. Biostage is now focused on the Biostage Esophageal Implant and aims to raise capital and uplist to NASDAQ.

Biostage, Inc. (OTCQB: BSTG) has announced a new publication in Nature Partner Journals Regenerative Medicine, demonstrating that its Biostage Esophageal Implant is safe and effective in regenerating esophageal tissue in piglets. The study showed that a continuous tube formed after three weeks, with complete mucosal lining by three months. This advancement offers a solution for treating esophageal birth defects in approximately 1,000 babies born with such conditions annually in the U.S. FDA approval for a pediatric trial is anticipated, enhancing Biostage's potential market opportunities.

Biostage, a biotechnology company focusing on esophageal treatments, has appointed David Green as its new CEO and Chairman. Mr. Green, who previously held these positions in 2015, is also investing $250,000 in the company. His compensation will largely consist of stock options tied to company milestones and will minimize cash burn. Biostage's Esophageal Implant has promising clinical outcomes, potentially addressing significant esophageal diseases and benefiting from orphan-drug status which could grant 7 years of market exclusivity.

Biostage (OTCQB: BSTG) reported its financial results for the third quarter of 2021, showing a net loss of $0.8 million ($0.08 per share), up from $0.7 million in Q3 2020. Despite the loss, the company experienced a $1.7 million year-over-year reduction in losses compared to the first nine months of 2020. Operating cash increased to $2 million, aided by a $2.6 million investment from private placements. Biostage aims to leverage its technology for esophageal implants, indicating optimism for future funding and development.

Biostage, Inc. (OTCQB: BSTG) has appointed Jerry He as an independent director, aiming to enhance its business strategy and innovation. He brings extensive experience, previously serving as CEO of Bright Scholar Education (NYSE: BEDU) and holding key positions at TStone Corp. and Noah Education Holdings. The company also secured $2.6 million from private placements to support its operations through 2021. Biostage is focused on developing regenerative esophageal implants using its patented technologies to address significant patient needs.

Biostage, Inc. (OTCQB: BSTG) reported its financial results for the second quarter of 2021. The company achieved a net loss of $0.4 million ($0.04 per share), significantly reduced from a $1.2 million loss in Q2 2020. For the first half of 2021, the net loss was $1.3 million ($0.13 per share), down from $3.2 million in 2020. The improvements were attributed to lower research and administrative expenses and a $0.4 million gain from PPP loan forgiveness. Operating cash remained flat at $0.5 million, sufficient to cover expenses into Q3 2021.

Biostage (OTCQB: BSTG) has released its financial results for Q1 2021, reporting a net loss of $0.9 million or $0.09 per share, a significant improvement from a $2.0 million loss or $0.24 per share in Q1 2020. This $1.1 million reduction in net loss primarily resulted from decreased research and development costs, lower administrative expenses, and increased grant income. As of March 31, 2021, Biostage had $0.5 million in cash and estimated additional cash from investors to sustain operations into Q3 2021.

Biostage, Inc. (OTCQB: BSTG) reported its financial results for the year ended December 31, 2020, revealing a net loss of $4.9 million, down from $8.3 million in 2019. The loss for Q4 2020 was $1.0 million, compared to $1.6 million in the same quarter of the previous year, attributed to reduced research and development and administrative expenses. Operating cash stood at $1.0 million, with net cash used in operations totaling $4.0 million. Additionally, the Company appointed Peter A. Pellegrino Jr. as Interim Vice President of Finance, emphasizing an urgent need for further fundraising by June 2021.