It is sad Enrique, but it's the company's fault, if they had kept their investors informed, This would not be happening, I expect this to continue to fall into the .40's SADLY
As a biomarker researcher, I also believe that we need multiple biomarkers to separate complex patients, and heart failure patients certainly are complex in the way they present with concomitant kidney disease, lung disease, diabetes, etc. So, the one biomarker that we all use is the natriuretic peptides. I like the fact that galectin-3 and the natriuretic peptides seem to be synergistic. You have a marker for fibrosis: the natriuretic peptides, markers of cardiac stress, and the fibrosis marker galectin-3 are relatively stable. BNP, to an extent, then tells you how much volume you need to remove to get back to baseline, dry BNP levels. When you look at prognosis, galectin-3 clearly adds to what you get from BNP. Galectin-3 can identify between 10% and 20% more patients at additional risk for adverse events.
for you guys
I don't blame the shorts for taking it down, That's their game and right now they're winning, I never liked shorting, it goes against my grain. That being said, news is the only out we have.Seems the company knows that the Abbott Assay is their only hope short term, I know that if that fails, This is going to be a very long haul, They will basically have to start all over with CardioScore and another 510K,they will have to raise more money and delete the stock further, Also most likely do a reverse split to stay listed on nasdaq CM. Good thing is we have a Mir of 6 months from there, And possibly up to 1year, You nailed this one from the start, I got greedy and wanted to hit this up for the 4th time,
Delayed reaction, thank God I managed to dump a good chunk , or I would be in world of carp, unfortunately this will keep dropping at an alarming rate IMHO, Without news this will be in the mid .50's or 40's by months end without news.
The concentration of sdLDL-C was highest in the pre-dialysis group and lowest in HD patients CKD patients with increased galectin-3 concentrations had significantly higher relative proportions of cholesterol in sdLDL than their counterparts with lower galectin-3 levels Relative proportion of sdLDL-C was shown to be an independent determinant of galectin-3 concentration. Conclusions. Our results demonstrated alterations in concentrations and proportions of sdLDL-C according to the stages of CKD. The observed independent associations of % sdLDL-C and galectin-3 provide further insight into their complex interaction during the progression of atherosclerosis in CKD.
I'll help you out here, Many companies make and sell Gal 3 ELISA kits, So we dont know whos kits they're using, La Jolla just happens to use BGMD's kit
Association of small, dense low-density lipoprotein cholesterol and galectin-3 in patients with chronic kidney disease.
The aim of this study was to analyze concentrations and relative proportions of sdLDL-cholesterol (sdLDL-C) and galectin-3 in patients with CKD, with respect to the stage of the disease. Also, we sought possible independent associations of galectin-3 and sdLDL-C. Methods. The study involved 100 hemodialysis (HD) and 50 pre-dialysis patients, together with 94 healthy individuals. SdLDL-C was measured by heparin-magnesium precipitation method. Galectin-3 was measured by ELISA technique. Results. Galectin-3 levels were higher in pre-dialysis and HD patients than in the control group (p
That extends how far their cash will go into 2015
Enrique, I don't know where you've come up with information that th 8k has been kicked back to Abbott, there is no indication of that whatsoever, When Abbott submitted the 8k they addressed the issue by the FDA that was from the 2012 submission, So as far as I'm concerned the FDA. Never kicked it back, the only problem I see is it taken longer then normal.
King, This has nothing to do with my eyes, it has to do with the company, without Abbott's Automated Architect Assay, IMHO. It will be very hard to recover, there is also some hope in Cardioscore and results from BioImage study, but in order to get any traction with those 2, they will need more funding, hence more dilution, it's gonna be tough without Abbott, I must say that I've dumped 70pct of my holdings lately, so I'm not confident that they can pull this off.
You can take everything the CEO says with a grain of salt, Thats his wish list of what he hopes will happen, He also said in Q1 2014 " Our first question comes from Kevin DeGeeter with Ladenburg.
Kevin DeGeeter - Ladenburg Thalmann
Hey, good morning guys. Thanks for the update. A few quick questions here. Can you just—one of them sort of housekeeping. You talk about doubling the U.S. field sales force. Can you put some numbers on that – where were we in 2Q ’13 and what’s the target for 2Q ’14?
Paul Sohmer - President, Chief Executive Officer
Yeah, we expect to be at approximately 10 field sales people in the field by the end of the quarter. "
That didnt work out, It was just a waste of much needed cash.
King, Thats not a date issued, Its what he hopes will happen if its cleared by the FDA, And so far its NOT cleared
" we are in the process of shifting our focus to begin setting the stage for the anticipated U.S. market introduction of galectin-3 automated testing by our partners Abbott and bioMerieux. "
Kevin DeGeeter - Ladenburg
So as I think about that in the context of your guidance, does the guidance assume no introduction of an automated test at least or at least no commercial revenues from an automated test for 2014?
Paul Sohmer - President and Chief Executive Officer
So basically Thats what was said in the 8K yesterday, So IMHO Nothings changed !!!!!
You can't have this both ways, many here were saying " myself included " that the increase in sales people was a positive sign , now you're saying it's a positive sign that they're cutting sales and save cash, I'm confused. IMHO, This news is NOT GOOD
Also Notice od delisting,
On September 11, 2014, BG Medicine, Inc., the developer of the FDA-cleared BGM Galectin-3� Test (the "Company"), implemented a reduction of approximately 55% of the Company's workforce, or 12 people (the "Restructuring"), leaving 10 employees. The Company took this step in order to reduce its operating expenses and extend its cash runway in anticipation of the commercial launch of automated versions of the Company's galectin-3 test. The automated galectin-3 tests are being developed and commercialized by the Company's diagnostic instrument manufacturing partners and will be performed on the partners' automated platforms. The first automated galectin-3 test is expected to be launched in the United States in 2015.
The Restructuring primarily eliminated the Company's sales and marketing organization and removed certain positions in other functional areas, while preserving some senior management and other critical roles to support the clinical and commercial adoption of galectin-3 testing by generating, publishing and publicizing data derived from clinical research studies and by expanding the BGM Galectin-3 Test's labeling indications for use through additional clinical studies and clearances by the FDA.
Employees affected by the Restructuring were notified on September 11, 2014 and are being provided with severance arrangements including outplacement assistance. The Company expects to complete the Restructuring during the third quarter of 2014.
As a result of the Restructuring, the Company expects to record one-time charges with respect to severance payments and benefits continuation, which are estimated to be approximately $0.3 million and are expected to be recorded in the third quarter of 2014. As a result of the Restructuring, the Company estimates it will generate annualized expense savings of approximately $1.9 million primarily from savings in employee salaries and benefits.
They don't answer emails, they don't answer phone calls, They don't issue press releases, they don't file 8k when required, makes you wonder if there is anyone is still working ???? And this is not a joke !!!!!
Under SEC rules, the company must inform investors within 4 days of receiving notice in the form of an 8k that they are not compliant with nasdaq s listing rules,