BioStem Technologies Inc. (OTC: BSEM) Stock Surges After The Acquisition News
Placental-based biologics manufacturer BioStem Technologies Inc. (OTC: BSEM) could be one of the companies to track this morning following the development from Wednesday. The company came into focus yesterday after it announced the signing of a key letter of intent. Let’s take a closer look.
New LOI
The company announced that it inked a new letter of intent with regards to the potential acquisition of commercial stage technologies for products and development from ProgenaCare Global LLC. ProgenaCare is an innovative operator in the medical device space and specializes in deploying advancements in biomaterials to deliver affordable and effective, highly advanced wound care products.
In the news release, BioStem Technologies announced that it expected that the definitive agreements were going to be signed 60 days after the completion of due diligence proceedings. However, it should be noted that the transaction was going to be completed following consent from the board and regulatory approvals.
Further Information
It was further noted that the transaction could be a major new opportunity for BioStem Technologies to expand its portfolio meaningfully. The product from ProgenaCare was also described as being in alignment with the company’s larger goals. It remains to be seen how the market reacts to the development.
CEO Quote
Jason Matuszewski, CEO of BioStem, stated: “ProgenaCare represents a significant opportunity for us as part of our portfolio expansion initiatives. The products align perfectly with our goal to provide wound-care solutions across the entire continuum of care. The addition of ProgenaCare’s 510(k) cleared products will enhance our position in the hospital-based segments of the market, while ProgenaCare’s proprietary technology platforms and product pipeline offer significant opportunities for us to help drive future growth. With Revyve, we could address wounds early in the treatment continuum, greatly broadening the patient population BioStem supports and offering multiple opportunities for channel expansion. We believe this acquisition will not only strengthen our existing commercial activities but also position ProgenaCare for accelerated growth and operational efficiency. This partnership will enable both of our organizations to unlock new potential, fostering talent and innovation to deliver meaningful wound care solutions.”
Technicals
| +/- EMA(20) | 16.46 (-18.04%) |
| +/- SMA(50) | 13.78 (-2.10%) |
| +/- SMA(200) | 10.65 (+26.67%) |
| 5-Day Perf. | -22.52% |
| 1-Month Perf. | +15.6% |
| 3-Month Perf. | +22.64% |
| 6-Month Perf. | +74.18% |
| YTD Perf. | +130.2% |
| 1-Year Perf. | +387% |
| RSI(14) | 42.29 |
| ATR(14) | 2.43 |
| ADX(14) | 33.26 |
| Beta (5Y) | 0.20 |
