This is from my Blue Cross and Blue Shield policy.
"Galectin-3 testing is considered experimental, investigational and unproven for all indications including but not limited to, selection of individuals for biventricular testing and to determine prognosis of heart failure."
Remember, they already have a partnership. Probably 50/50. BGMD spent money on the scientific studies and literature validating the need for the test and Abbott spent money on automating the test and paying for the 510(K) filings. BGMD needed Abbott for survival as they were losing sales to competitors on the manual version.
So for starters they would be buying out their partners half.
I agree. The test is FDA approved to use in an effort to keep people from coming back for heart failure (readmisson purposes). Not diagnosis purposes. Like a routine blood pressure test. Don't forget about pressure from Insurance companies.
Fom what I gather is no. Just re-admission at this time. But I believe the thinking is that over time the use for the test will expand, to include for other conditions.
It is already on the Architect. They are already partners with BGMD. Abbott has been working with BGMD for over 5 years on the automated version for US and paid for the 510(k). They wouldn't be wasting their time and money if they didn't see value. Abbott is calling the shots on this and not BGMD. Market is waiting on Abbott.
On November 20, 2014, BG Medicine, Inc. (the "Company") received written notice from the Listing Qualifications Department of The NASDAQ Stock Market LLC ("NASDAQ") indicating that the Company did not meet the minimum $2.5 million in stockholders' equity ("Stockholders' Equity Deficiency"), required by NASDAQ Listing Rule 5550(b)(1), which is one of the alternative tests for continued listing on The NASDAQ Capital Market. In the Company's Form 10-Q filed on August 14, 2014, the Company reported stockholders' equity of $1,696,000 for the period ended September 30, 2014. In addition, the notice indicates that the Company does not meet the other alternative tests of market value of listed securities or net income from continuing operations and therefore, no longer complies with the continued listing rule. The notice has no immediate effect on the listing or trading of the Company's common stock and the common stock will continue to trade on The NASDAQ Capital Market under the symbol "BGMD" at this time.
The notice further provides that the Company has 45 calendar days, or until January 4, 2015, to submit a plan to regain compliance with the continued listing rule. If NASDAQ accepts the Company's plan to regain compliance, the Company may be granted an extension of up to 180 calendar days from the notice, or until May 19, 2015, to evidence compliance with NASDAQ's continued listing rule.
I am telling you. BGMD game has been played out. We will see the 30s.
This stock has no fundamentals. It trades on news and speculation. They have a burn rate of 2m a quarter and are not profitable. That is why they call it a spec stock.
Have been around this stock for years. I believe that it has no credibility. People get tired of hearing excuses over and over again. They really need to just sell. Their games have been exhausted. What ever happened to their royalties on automated version in Europe? Probably get the same thing with US version. Why do U think they do not disclose the terms of the agreements? I have heard the word is that BGMD isn't nothing but a shell company for Abbot. Just give me a dollar and I will be gone! That is my sceptic sides way of thinking. Not bashing. Still wish eveyone the best and hope I am wrong.
That is because they are partners. One of several.
From last 10Q
"Fujirebio Diagnostics, Incorporated, or Fujirebio, on behalf of Abbott, is the first of our automated partners to have filed for 510(k) regulatory clearance of an automated version of the galectin-3 test."
Good post. My thoughts, also. Why did they decide to divvy up shares now? What makes this time any different from the last times major news was released. It signals to me a parting of ways from this stock when looking at everything together. GLTA
KMI is the better play. $1 decline in the price of oil per barrel equates to a $7 million decline in the company's cash flow -- a drop in the bucket for a company with over $4 billion in operating cash flow last year. only 15% of its asset base really exposed to crude price changes, it is more insulated than most. With a $2.00 per share dividend targeted for 2015, the stock would yield more than 5% based on the current share price.
According to the annual report filed by BGMD, 8.7 million shares belong to Entities affiliated with Flagship Ventures. Noubar was deemed to be the Beneficial owner for SEC purposes. He just transferred to his partner, Edward Kania, of Flagship Ventures, his due portion of the shares not on the open market for 0 dollars per share recently. Now they have 9.9 million combined. Keep up the good work!
The timing of this move is interesting.
Very well put. It really is all about the FDA at this point. Reminds me of giving my friend a hard time about buying PLUG at .26, especially when it traded down from like 2.30ish to .12 in a years time. GLTU
Noubar had owned 8,186,182 shares. Now he owns 4,840,775 shares (Indirect) and 175,718 shares (Direct) for a total of 5,016,493. Kania Edwin M Jr. now owns 5,549,792 shares (Indirect). A total of 10,566,285 shares between the two now.
2,484,192 transferring of shares not on the open market for $0 a per share.
703,655 transferring of shares not on the open market for $0 a per share.
98,570 transferring of shares not on the open market for $0 a per share.
98,352 transferring of shares not on the open market for $0 a per share.
(Remember, Kania Edwin M Jr was also granted 634,390 shares)
Kania Edwin was not a BGMD insider nor a 10% owner so he wouldn't have had to report owning any previous shares directly or indirectly.
Looks like he might have had about 1.5 million shares indirectly.
Insiders own 12.77 million shares now at 37 percent. Hope this helps some.
Check out ownership on Yahoo finance and holdings NASDAQ for BGMD
A lot of shares are trading hands among businesses Noubar Afeyan and Edwin M. Kania, Jr have a
NewcoGen Group, Inc. ("NG") is the manager of each of NewcoGen Group LLC ("NGG"), NewcoGen Equity Investors LLC ("NEI") and NewcoGen-Long Reign Holding LLC ("NGLRH", and together with NGG and NEI, the "NewcoGen Funds"). NG is also the general partner of AGTC Partners, L.P., which is the general partner of AGTC Advisors Fund, L.P. ("AGTCA") and Applied Genomic Technology Capital Fund L.P. ("AGTCF", and together with AGTCA, the "AGTC Funds"). NG is a wholly-owned subsidiary of Flagship Ventures Management, Inc. ("Flagship"). Noubar Afeyan and Edwin M. Kania, Jr. are directors of Flagship and may be deemed to beneficially own the securities held by the NewcoGen Funds and the AGTC Funds. Each of Messrs. Afeyan and Kania disclaim beneficial ownership of the securities except to the extent of his pecuniary interest therein
Although for purposes of determining status as a ten percent holder, a person is deemed to beneficially own securities over which that person exercises voting or investment control (see Rule 16a-1(a)(1)), for reporting transactions and holdings, a person is deemed to be the beneficial owner of securities if that person has the opportunity, directly or indirectly, to profit or share in any profit derived from a transaction in the securities (“pecuniary interest”). See Rule 16a-1(a)(2). See also Rule 16a-8 for the application of the beneficial ownership definition to trust holdings and transactions.