I have no idea what you are talking about. The delisting process is set in motion when a company trades for 30 consecutive "business days" under one dollar. How many consecutive days trading under a 1 as of July 23? None. Then they get 180 calendar days to fix it not counting appeals.
The Abbott Architect automated Galectin-3 immunoassay has been in use in Europe for over a year now. The current BGMD Galectine is already FDA cleared. Several studies have shown automated version just as effective as current BGMD Galectine. This should be easy for FDA. It is not like it is a totally new immunoassay with nothing to compare it to. Should hear something within 6 weeks a latest. IMHO
I agree. These guys know what they are doing. The higher the price the more money they can raise. On the lasy CC they also said they would have sales force doubled by end of 2nd quarter, also. Coincidence?? They like to issue more shares on pops.
Jess, this is a different company than a year ago. Earnings per share were -.18 and -.13 when this stock traded to its low of .55. Last earnings per share was -.08. Stock dilution is factored in PPS. Price targets are not set by insider buying and what a stock traded to last year. This stock bounced around from .55 to .76 until we got some good news. FDA speculative approval is not factored in current price. I doubt we take any hit or very little at the .90 price range. Current earnings support current evaluation.
Call your broker since they are the ones doing it and ask them to explain what they are doing.
But it is not a new assay. BGM Galectin-3 Test already 510(k) cleared and studies were submitted with the automated Galectin-3 assay 510(K) that showed measurement values obtained with the automated Galectin-3 assay to be in excellent agreement with those obtained with the BGM Galectin-3 Test (Reference Method).
No but there are some revenue issues. How did the company have about a 70% CMS reimbursement rate increase for Galectin-3 effective 2014 but no increase in revenues even when accounting for lost revenues due to the weather? Company bragged about the increase on conference call but no analyst asked how come no increase in revenues. The only thing that improved was the cost cutting from same quarter last year. The point being is that it all sounds nice, but no positive result on revenues since same time last year. Hope they are not losing big on this market due to competitors who can deliver the science more cost effective. That is the disadvantage these small companies have.
On April 29, 2013 the registrant filed, and on May 20, 2013 the registrant amended (on a pre-effective basis), a Registration Statement on Form S-1 (Registration No. 333-188211) with the Securities and Exchange Commission, or the SEC, which was declared effective by the SEC on May 24, 2013 (as amended, the Registration Statement). This Post-Effective Amendment No. 1 to Form S-1, or this Post-Effective Amendment, is being filed by the registrant pursuant to the undertakings in Item 17 of the Registration Statement to update and supplement the information contained in the Registration Statement to include the information contained in the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (the Annual Report) that was filed with the SEC on March 27, 2014 and, in some cases, to reflect disclosure as of and through a more recent practicable date. No additional securities are being registered under this Post-Effective Amendment. All applicable SEC registration fees were paid at the time of the filing of the original Registration Statement.
In December 2013 and December 2012, this stock went up 300% both times on news of CMS rate increase and CardioScore news in Europe. From .60 to 1.80 and 1.33 to over 4. This stock trades in extremes. GLTA
FDA conducts substantive review usually within 60 days and asks for additional info if needed. Last 510k submission in late July 2012 elicited request from FDA for additional info in August 2012 per 10k/q filed afterwards by BGMD.
They have 90 days to review from date received. They can clear it or not or ask for additional info.
Since this is a resubmission and it took 1.5 years to get it ready for resubmission, it has been in use in Europe for over a year now, Architect is performing other assays (substantially equivalent), people believe the odds are in their favor. GLTA
Look at Abbott ARCHITECT i1000SR and i2000 SR instruments and what they do. Abbott's diagnostic products offer customers quick processing of results, automation, convenience, cost effectiveness and flexibility on a leading laboratory platform. One machine does many tests and is already set-up to do Galectine-3. Just need FDA greenlight and off to races. Abbott has more than 69,000 institutional customers in more than 100 countries.
BGMD strong life science discovery research program combined with Abbott's scientific and development leadership will enable BGMD to most effectively bring important new tests to patients and laboratories.
According to earnings transcript they don't keep up with it. Contact Abbott.
Any thoughts? That is baffling.
424(B)(5) filed by BGMD dated 4-3-14 confirms there were 27,937,062 oustanding shares before offering.
SC 13G filed by BGMD dated 4-11-14 confirms 7.4% ownership by Heights Capital Management, Inc., the investment manager to Capital Ventures International, with purchase of 2,550,000 shares on 4-3-14.
Closing of offering was supposed to be aroung April 8 and computer systems reflect increase in oustanding share shortly thereafter.
Good detective work! Sometimes you just have to put the pieces of the puzzle together.