BioStem Technologies Inc. (OTC:BSEM) Stock Extends Rally: Here is Why
There were some stocks that emerged as notable gainers on Tuesday, and one of those was the BioStem Technologies Inc. (OTC:BSEM), which ended up with gains of 5%. The rally came about following a key announcement from the medical technology company.
BioStem Technologies Establishes National Pricing for Vendaje AC® from the Center for Medicare Services and Provides Reimbursement in All MAC Regions
The company announced yesterday that the CMS (Center for Medicare Services) set up national pricing for Vendaje AC, its allograft offering, in all the MAC (Medicare Administrative Contractor) regions. The pricing announcement had gone into effect on October 1 and would allow BioStem Technologies to start the marketing of its product in all the MAC zones.
Key Information
The company would work on the commercialization of the Vendaje AC product through Venture Medical LLC. Venture Medical is a leading commercialization services provider operating in the United States wound care market and boasts of a dedicated sales team in the wound care space. It is also important to note that currently it is involved in collaboration with BioStem Technologies for the successful launch of the product AmnioWrap2.
Through the pricing approval, Vendaje would instantly become more accessible to a larger pool of patients across the United States. The development was also in alignment with BioStem Technologies’ mission to improve the level of wound care in the United States. It is going to be interesting to see if the stock records more gains today or not.
CEO Quote
Jason Matuszewski, CEO of BioStem Technologies Inc., commented: “With CMS’s national pricing approval, Vendaje AC is now accessible to more patients across the country, representing a major milestone in our mission to improve advanced wound care. We are thrilled to partner with Venture Medical to bring Vendaje AC to a broader audience. Their expertise in the wound care market will be invaluable as we continue to deliver innovative solutions for patients in need.”
Fundamentals
| P/E Ratio | 38.30 |
| PEG Ratio | 0.16 |
| Price to Book | 13.90 |
| Price to Cash Flow | 36.9405 |
| Price to Free Cash Flow | 39.4549 |
| Total Sales (TTM) | 131.44 M |
| Revenue per Share (TTM) | 6.28 |
| Shares Outstanding | 16.338 M |
| Share Float (%) | 11.82 M (72.36%) |
