BioStem Technologies (BSEM) Takes Major Leap Towards Nasdaq Uplisting Amidst Record Revenue Growth, Targeting Enhanced Market Visibility and Global Liquidity
BioStem Technologies (OTC: BSEM) has filed a Form 10 registration with the SEC, marking a critical step toward its planned uplisting to Nasdaq. The Company aims to be a fully reporting entity within 60 days, complying with quarterly and annual reporting requirements.
Jason Matuszewski, CEO of BioStem Technologies, commented: “Our decision to pursue a major exchange listing marks a pivotal development during a period of continued revenue growth. Uplisting to Nasdaq aligns with our strategic initiatives to enhance market visibility, financial transparency and access to capital as we continue to expand through capital markets activities. BioStem is committed to driving revenue growth and market expansion for our products, and we will provide updates on our clinical trials and listing objectives as data becomes available. We look forward to working closely with Nasdaq and updating our stakeholders throughout this process as we pursue our listing objectives.”
Last month, BioStem received Institutional Review Board (IRB) approval for a clinical study evaluating Vendaje® for diabetic foot ulcers. This trial aims to compare the efficacy of Vendaje to the standard of care in non-healing diabetic foot ulcers. The study supports BioStem’s growth strategy by providing data to healthcare professionals and payers, potentially accelerating product adoption and securing broader coverage.
The global chronic wound care market was valued at USD 12.8 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 4.07% from 2023 to 2030.
In the first half of 2024, BioStem reported $116.4 million in revenue. As of September 30, 2024, the Company’s market cap stands at $165 million, with shares trading at $10.
About BioStem Technologies, Inc. (OTC: BSEM): BioStem Technologies, Inc. is a leading innovator focused on harnessing the natural properties of perinatal tissue in the development, manufacture and commercialization of allografts for regenerative therapies. The Company is focused on manufacturing products that change lives, leveraging its proprietary BioREtain® processing method. BioREtain® has been developed by applying the latest research in regenerative medicine, focused on maintaining growth factors and preserving tissue structure. The Company’s quality management system and standard operating procedures have been reviewed and accredited by the American Association of Tissue Banks (“AATB”). These systems and procedures are established per current Good Tissue Practices (“cGTP”) and current Good Manufacturing Processes (“cGMP”). BioStem’s portfolio of quality brands includes AmnioWrap2™, VENDAJE®, VENDAJE AC®, and VENDAJE OPTIC®. Each BioStem placental allograft is processed at the Company’s U.S. Federal and Drug Administration (FDA) registered and AATB-accredited site in Pompano Beach, Florida.
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