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The biotech space staged a comeback in late 2023 and early 2024 as Big Pharma tapped into takeovers again. In mid-July biotech tech stocks even hit a two-year high.
One biotech company with exciting developments that looks to be going underfollowed is BioStem Technologies Inc. (OTC: BSEM), a leading MedTech company focused on the development, manufacture, and commercialization of placental-derived biologics for advanced wound care. The company is addressing two multi-billion dollar markets and has seen record breaking quarterly results all year.
BSEM recently reported that for the third quarter the company achieved another major milestone with its third consecutive quarter of record growth. In Q3 2024, the company posted revenue of $82.6 million for the quarter, totaling $199 million for the first nine-months of 2024.
This strong financial performance is a direct result of the continued success of our AmnioWrap2® allografts using the company’s patented BioREtain® technology, which is driving increased commercial acceptance across a wide range of non-acute sites of service.
Following these results, Zacks SCR updated its price target from $24.25 to $32.50!! AND ON ANOTHER EXCITING FRONT THAT COULD SERVE AS A CATALYST FOR GROWTH IS THAT A NASDAQ LISTING COULD BE AROUND THE CORNER FOR THE COMPANY!
BSEM recently announced that it has filed with the SEC to register its shares pursuant to the Securities Exchange Act of 1934, which is an important step in its plan to uplist to the Nasdaq stock exchange.
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