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Biostage, Inc. (OTCQB: BSTG) is a trailblazing biotechnology company at the forefront of developing bioengineered organ implants. These implants cater to critical needs in treating life-threatening conditions such as cancer, trauma, and congenital abnormalities, specifically targeting the esophagus, bronchus, and trachea. Central to Biostage's innovation is its proprietary Cellframe™ technology platform. This platform stimulates the body's innate signaling pathways and natural healing processes, fostering the regeneration and restoration of organ function.
The breakthrough Cellframe™ technology combines a synthetic scaffold with tissue engineering and cell biology to produce organ-specific Cellspan™ implants. These implants are strategically designed to facilitate in situ tissue regeneration by providing both stem cell-derived biological signals and three-dimensional structural support for cell growth and differentiation. A testament to its potential, recent large animal studies have shown promising results, notably in esophageal applications.
In an exciting development, Biostage has initiated its first clinical trial in the United States in collaboration with the Mayo Clinic, focusing on severe esophageal disease. This Phase 1, first-in-human study, approved by the FDA, aims to evaluate the safety and efficacy of the Cellspan™ esophageal implant in up to ten patients across five hospitals. The trial seeks to establish a continuous biological neo-conduit at three months post-implantation.
Biostage's commitment to advancing regenerative medicine is further emphasized by its robust intellectual property portfolio, which includes 13 issued U.S. patents, 2 issued in China, and 2 orphan-drug designations. These designations provide seven years of market exclusivity, reinforcing Biostage's competitive advantage.
The company's long-term vision is to provide next-generation solutions for organ restoration, eliminating the need for donor or animal transplants and avoiding the use of permanent artificial implants. This vision was notably realized in 2017 when Biostage successfully regenerated the esophagus in a patient with esophageal cancer, a milestone procedure that was later published in the Journal of Thoracic Oncology Clinical and Research Reports.
For the latest updates, Biostage regularly shares news on its website and through its social media channels, providing stakeholders with current advancements and financial performance.
Biostage, a cell-therapy biotechnology company, reported its financial results for Q3 2022, showing a net loss of $1.1 million, or $0.10 per share, compared to a net loss of $0.8 million, or $0.08 per share in Q3 2021. The increase in losses was attributed to legal costs and higher expenses related to share-based compensation and staffing. As of September 30, 2022, Biostage had $3.0 million in operating cash, expecting to fund operations until Q2 2023. Notably, the company received a U.S. patent for its Biostage Tissue Patch technology aimed at treating gastrointestinal conditions.
Biostage, Inc. (OTCQB: BSTG) announced the issuance of a U.S. patent for its Biostage Tissue Patch, extending its technology from hollow tubes to patches for treating gastrointestinal disorders. This innovation aims to address issues like fistulas and strictures in the esophagus, stomach, and intestine. The patch, made from patient-derived mesenchymal stromal cells, aids in tissue regeneration. With 10 U.S. patents and plans for NASDAQ uplisting, Biostage continues to advance in regenerative medicine.
Biostage, Inc. (OTCQB: BSTG) announced the appointment of Joseph Damasio as the new Chief Financial Officer. Damasio, with extensive experience in capital raising and operations, aims to aid Biostage's strategy for re-listing on NASDAQ and advancing its clinical trials for severe esophageal disease. The company has FDA approval for its Biostage Esophageal Implant and successfully completed a first-in-human trial. With eight U.S. patents and two orphan-drug designations, Biostage is positioned for significant growth as it embarks on its next clinical trial.
Biostage (OTCQB: BSTG) reported its second-quarter financial results for 2022, revealing a net loss of $1.3 million, an increase from the previous year's loss of $0.4 million. The company completed a private placement of $5.1 million to fund its FDA-approved clinical trial for the Biostage Esophageal Implant. Additionally, it settled legal proceedings with Harvard Bioscience, resulting in the issuance of convertible preferred stock. Biostage aims to uplist to NASDAQ and expects sufficient cash to fund operations through Q2 2023.
Biostage, a clinical-stage biotech focused on cell therapy, announced its Q2 2022 financial results release on August 4, 2022, followed by a conference call on August 5, 2022, at 9:00 AM ET. The company has reported success in treating esophageal cancer and has received FDA approval for clinical trials of its Esophageal Implant. Biostage holds 8 U.S. patents, 2 orphan-drug designations, and aims for NASDAQ uplisting while working to secure additional funding and advance clinical trials. The press release includes forward-looking statements regarding regulatory approvals and capital raising plans.
Biostage, a cell-therapy biotech company, reported its Q1 2022 financial results, posting a net loss of $2.2 million ($0.20 per share), up from $0.9 million ($0.09 per share) a year earlier. The increase in losses was attributed to higher legal costs associated with a settlement over a wrongful death complaint. On May 12, 2022, the company raised $5.1 million in a private placement to advance its lead product candidate, the Biostage Esophageal Implant (BEI). As of March 31, 2022, it had cash of $0.7 million.
Biostage, Inc. (OTCQB: BSTG) announced it raised approximately $5.1 million from investors to expedite clinical trials for its Biostage Esophageal Implant (BEI), approved for a phase one/two study in adults with severe esophageal disease. The FDA may expand this trial to pediatric patients pending safety results. The company is also exploring additional applications of its technology for treating lung cancer. The private placement involved 854,771 shares and warrants, with an exercise price of $8.88.
Biostage, Inc. (OTCQB: BSTG), a cell-therapy biotech company, announced it will release its Q1 2022 financial results on May 16, 2022, followed by a conference call on May 17, 2022, at 8:30 AM ET. The company focuses on treating esophageal cancer and has successfully performed the world's first esophagus regeneration surgery published in August 2021. Biostage holds 8 U.S. patents and has goals to secure capital, uplist to NASDAQ, and begin clinical trials for esophageal repair.
Biostage, Inc. (OTCQB: BSTG), a cell-therapy biotech company, reported a net loss of $5.9 million or $0.55 per share for Q4 2021, worsening from a loss of $1.0 million in Q4 2020. The annual net loss for 2021 reached $8.0 million, up from $4.9 million in 2020, mainly due to litigation-related charges of $3.3 million and increased legal costs. As of December 31, 2021, the company held $1.2 million in cash and used $2.6 million in operations, partially offset by $2.8 million raised from private placements. The company also announced plans for an upcoming conference call on April 1, 2022.
Biostage, a clinical-stage biotech company focused on cell therapy, announced a conference call on April 1, 2022, to discuss its fourth quarter and full year financial results. Interim CEO David Green will outline plans for an FDA-approved clinical trial of the Biostage Esophageal Implant, aimed at treating severe esophageal diseases including cancer. The company also aims to raise capital and uplist from OTC to NASDAQ. Biostage is known for its pioneering work in esophagus regeneration, previously conducted at the Mayo Clinic.
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