BioStem Technologies Inc. (OTC:BSEM) Stock Trends Higher: What’s the Buzz?
There are a number of industries that investors ought to look into at this point due to the potential long-term payoff, and one of those is perhaps the biologics niche. A company in that space that could be worth tracking at this point is BioStem Technologies Inc. (OTC:BSEM). It is one of the leading players in the regenerative medicine space and works on the manufacturing, development, and commercialization of placental-based biologics for the purpose of wound care.
On September 29, the company was in the news after it publicly supported the decision from the Centers for Medicare and Medicaid Services (CMS) to be in the best interests of patients. The company revealed that Three Medicaid Administrative Contractors had announced that it had been decided to withdraw final local coverage determinations (LCDs) for cellular or tissue-based products meant for treating Venous Leg Ulcsers (VLU) and Diabetic Foot Ulcers (DFU). The LCDs had actually been scheduled to go into effect on October 1, 2023.
The Chief Executive Officer of BioStem Technologies, Jason Matuszewski, spoke about the latest development as well. He observed that it was a significant development for those patients whose treatment options would be positively impacted thanks to the resolution, which could have far-reaching implications. He went on to note that over the past months there had been considerable uncertainty, and treatment plans for many patients had been disrupted as a consequence.
Hence, everyone at BioStem Technologies was delighted at the fact that all doctors and hospitals had come back on board following the interruption. In the news release, the company also announced that in September it had been awarded the approval of the Investigational Review Board pertaining to a clinical study that would look to find out the utilization as well as the effects of its wound care products, Vendeje, in treating DFU.
The company had been in the news on September 26 when it provided the details of the approval of a clinical study sanctioned by the Investigational Review Board (IRB). BioStem revealed that the study would look to find out the effects of the treatment with its product, Vendaje, on diabetics who also suffer from foot ulcers. Jason Matuszewski, the CEO, noted that it was going to be a landmark study for BioStem. He went on to note that the company’s proprietary BioREtain process was distinctive since it was not greatly invasive and was gentle on the tissues.
Such a combination helped in keeping the placenta in its natural components. That, in turn, helps in healing wounds, which may be difficult. He went on to note that the company had already been successful in showing that its product and process were both exceptional.
The demonstration had a sound scientific basis. The study would also help in further boosting the scientific understanding of its process and product through critical data, which would make it easier for the wider medical community to accept. It may be the right time to add BioStem stock to your watch list.
