BioStem Technologies (OTC: BSEM)
BioStem Technologies Reports Fourth Quarter Revenue of $11.5 Million, 14-Fold YoY Increase
-Project Continued Growth from Sales of AmnioWrap2®- -Financial Results Conference Call and Webcast on Monday, April 1, 2024 at 4:30 pm EDT- POMPANO BEACH, Fla., April 01, 2024 (GLOBE NEWSWIRE) -- BioStem Technologies Inc. (OTC: BSEM), a leading regenerative medicine company focused on the development, manufacture, and commercialization of placental derived biologics, today reported financial results for the fourth quarter and twelve months ended December 31, 2023. Jason Matuszewski, CEO of BioS
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Jason Matuszewski, CEO of BioStem
“BioStem had an outstanding fourth quarter. Revenue reached $11.5 million, nearly 14 times higher than revenue of roughly $0.8 million for last year’s comparable quarter.”
Jason Matuszewski, CEO of BioStem
“The launch was supported by the fourth quarter publication of local MAC (Medicare Administrative Contractor) pricing by CMS (Centers for Medicare and Medicaid Services). Gross margin reached 95% of revenue compared to 84% last year, reflecting the increase in sales and the benefit from our distribution agreement with Venture Medical.”
Jason Matuszewski, CEO of BioStem