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BioStem Technologies is a leading innovator in regenerative therapies, utilizing perinatal tissue to develop and commercialize allografts that change lives. Their proprietary BioREtain® processing method preserves tissue structure and growth factors, setting them apart in the market. With quality brands like AmnioWrap2™ and VENDAJE®, BioStem Technologies is at the forefront of regenerative medicine.
BioStem Technologies (OTC: BSEM) reported strong financial results for Q2 2022, with net revenue of $2.158 million, marking a 133% increase year-over-year. The company achieved a gross profit of $1.773 million, an 82% margin, up from 52% in Q2 2021. Net income improved to $0.203 million, compared to a loss of $0.372 million last year. Year-to-date, revenues reached $4.936 million, up 173%. However, net losses increased to $0.654 million. The company is transitioning to a direct salesforce and expanding its product offerings in advanced wound care.
BioStem Technologies (OTC: BSEM) will host a conference call to discuss its financial results for Q2 2022 on August 22, 2022, at 4:30 PM EDT. The company specializes in regenerative medicine with a focus on placental derived biologics. BioStem's proprietary BioRetain® processing method is key to its product development. The conference call will be available via webcast, with questions submitted online only. BioStem has faced significant losses since inception and may incur future losses, which are potential areas of concern for investors.
BioStem Technologies (OTC: BSEM) was featured on Benzinga's All Access show on June 17, 2022, at 10:20 AM EST. CEO Jason Matuszewski provided updates on the company's business growth and product portfolio. BioStem Technologies focuses on perinatal tissue's regenerative properties, utilizing the proprietary BioRetain® processing method to enhance growth factors and tissue structure. The company's manufacturing is FDA registered and AATB accredited, with products like VENDAJE® at its Pompano Beach, Florida site.
BioStem Technologies Inc. (OTC: BSEM) reported a 212% increase in net revenue for Q1 2022, totaling $2.749 million, compared to $0.882 million in Q1 2021. Despite this, the net loss rose to $0.879 million from $0.130 million year-over-year, marking a 578% increase in losses.
Adjusted EBITDA improved to $1.479 million (54% of revenue) from $0.225 million (25% of revenue) in the prior year. Gross profit was $2.345 million, or 85% of revenue, reflecting strong demand for the Vendaje® product. The company aims to expand its product offerings and salesforce in 2022.
BioStem Technologies Inc. (OTC: BSEM) reported a strong financial performance for the year ending December 31, 2021, achieving net revenue of $4.341 million, a remarkable 80% increase from $2.415 million in 2020. The net loss shrank to ($1.408 million), down 44% from ($2.518 million) the previous year. The gross profit rose by 121% to $2.824 million. CEO Jason Matuszewski highlighted ongoing growth driven by the commercialization of the Vendaje product and anticipates continued growth in 2022, bolstered by product launches and an expanding commercial team.
BioStem Technologies (BSEM) reported impressive financial results for Q2 2021, with sales increasing by 306% to $970,511 compared to Q2 2020. Gross profit surged 1,348% to $455,723, representing 47% of sales. The net loss decreased by 47% year-over-year to $373,651. For the first half of 2021, sales rose 89% to $1,923,019 with a gross profit of $1,191,817, or 62% of sales. The company attributed this growth to an expanded sales force and increased adoption of its amniotic product portfolio.
BioStem Technologies (OTC PINK: BSEM) has partnered with Biologics Consulting to advance its investigational new drug (IND) candidates through the regulatory pipeline. With nearly 30 years of experience, Biologics Consulting has aided over 3,500 companies globally and contributed to more than 50 original INDs in the past four years. The collaboration aims to navigate the FDA’s Biologics License Application (BLA) process, enhancing BioStem's potential for product development in regenerative therapies.
BioStem Technologies, Inc. (OTC PINK: BSEM) announced that the Centers for Medicare and Medicaid Services (CMS) has approved a new Healthcare Common Procedure Coding System (HCPCS) Q-code (Q4252) for its VENDAJE product. This decision, effective October 1, 2021, enables Medicare claims processing for the product, enhancing reimbursement strategies. CEO Jason Matuszewski emphasized that this Q-code is a crucial step for providing better billing options for healthcare providers and patients, potentially leading to significant growth opportunities.
BioStem Technologies, Inc. (BSEM) reported its first quarter 2021 results, showcasing a 22% increase in sales to $952,508 compared to $777,365 in Q1 2020. The cost of sales decreased to $216,414, significantly improving the gross margin to 77.23%, up from 45.5% year-over-year. Net losses also fell by 25% to $292,782. Recent highlights include receiving FDA TRIP response for their VENDAJE™ allograft and expanding their scientific advisory board.
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