We have quarterly earnings Nov 14th. Their Galectin-3 test is under review to increase the rate they get for each product which at the moment is $17.80. They are trying to get $30.24 for each product. If there is any positive news released at their quarterly earnings expect a massive jump; if not they will hear before the end of 2013 if they will get a increased rate for their Galectin-3 which they most likely will. They went in to renegotiate as they were originally supposed to get much more for each product. I doubt the negotiation will leave them with the same $17.80 per Galectin-3 test. Negotiations tend to compromise so whether they get the $30.24 or not they are going to get a increase. When they do expect this to double from where ever it is at that point. Also we basically only have 2 more months before 2013 I would expect them to come back with an answer sometime in November maybe early December. Don't wait too long though!
My point is there is a back up plan if their quarterly earnings doesn't report anything exciting. I'm sure before the end of this December we will see $1.00 - $1.50 range.
I totally agree. BGMD is much better than MELA. MELA has quater earning of 145k and more common shares. But meal stayed 0.6 bottom for around 2 months. It went up to touch 1 yesterday. There is no doubt BGMD will be above 1.0 before year end.
Wasn't this trading close to a dollar before they announced the possibility of 30 dollars per test? Looks promising considering how the institutions reacted. I guess Gilde wasn't impressed since they dumped over half their holding last week.