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GBS, Inc. (GBS) has received approval from the Harvard Longwood campus Institutional Review Board for a validation study targeting a COVID-19 antibody diagnostic test. This collaboration with Harvard's Wyss Institute aims to assess an electrochemical assay to detect IgG antibodies from clinical samples. The study will utilize anonymized samples from various hospitals, including Brigham and Women’s Hospital and Massachusetts General Hospital. GBS's diagnostic technology targets broad immunity monitoring against SARS-CoV-2, with potential implications for public health.
GBS Inc. (Nasdaq: GBS) has signed a sponsored research agreement with Johns Hopkins Bloomberg School of Public Health to enhance the development of saliva-based diagnostic tests. This collaboration aims to accelerate research in saliva testing for two POC diagnostics: the SARS-CoV-2 Antibody Biosensor and the Saliva Glucose Biosensor for diabetes. Promising research from 2020 showed comparable saliva antibody responses to blood tests for SARS-CoV-2. The partnership will focus on identifying new biomarkers and conducting epidemiologic investigations in at-risk populations.
GBS Inc. (NASDAQ: GBS) announced its financial results for Q4 and FY 2020, showcasing significant progress in developing non-invasive diagnostic tests. The company generated $21.6 million from its IPO in December 2020 and reported a net loss of $1.9 million for Q4 2020, compared to a $0.4 million loss in Q4 2019. Collaborations with Johns Hopkins University and the Harvard Wyss Institute aim to fast-track the development of COVID-19 tests. GBS's cash reserves reached approximately $19.8 million as of December 31, 2020, sufficient to sustain operations through Q2 2022.
GBS Inc. (Nasdaq: GBS) successfully closed its initial public offering (IPO) of 1,270,589 units, raising approximately $21.6 million. Each unit comprises one share of common stock, one Series A Warrant (exercise price: $8.50), and one Series B Warrant (exercise price: $17). The IPO was upsized by 20% from the original offering. The funds will be utilized for regulatory approvals, marketing, and distribution network establishment. Trading under the ticker symbol GBS commenced on December 23, 2020, while the warrants are not publicly traded.
GBS Inc. has priced its initial public offering (IPO) of 1,270,589 units at $17.00 each, aiming for gross proceeds of approximately $21.6 million. Each unit includes one share of common stock or Series B Convertible Preferred Stock, along with one Series A and one Series B warrant. The funds will be used for regulatory approvals, marketing, and working capital. The offering is expected to close on or about December 28, 2020, with shares trading on the Nasdaq under ticker GBS.
GBS Inc. has priced its initial public offering (IPO) at $17.00 per unit, offering 1,270,589 units which will consist of common stock and warrants. The gross proceeds expected from this offering are approximately $21.6 million, aimed at regulatory approvals, marketing, and working capital. The units will begin trading on the Nasdaq under the ticker GBS on December 23, 2020, with shares separating from the units immediately.
The offering is managed by Dawson James Securities, Inc., and closing is projected for December 28, 2020, pending customary conditions.
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