Great Basin Scientific, Inc. (NASDAQ: GBSN)
Great Basin Scientific is a molecular diagnostics company that specializes in breakthrough chip based technologies. Their Group B Streptococcus test (GBS) is available to laboratories and hospitals across the US. GBS was cleared by the U.S. Food and Drug Administration in April 2015. Shares opened at $3.11, however at press time they are being traded at $2.95.
Great Basin’s CEO Comments
GBSN’s CEO & co-founder, Ryan Ashton said, “Initial response to our GBS test has exceeded our expectations. We believe this speaks to an unmet need in the market that Great Basin addresses by delivering simplified workflow, at appropriate cost, and the sensitivity, specificity and speed of molecular testing that our lab customers demand. Our unique business model, we believe, enables us to launch products efficiently, and we will continue to work diligently to deliver against our product roadmap of tests that assist clinicians in better diagnosing and managing their patients’ infectious disease early and effectively.” Business Wire
Testing Has Exceeded Expectations
The Centers for Disease Control (CDC) continues to report that a high proportion of early onset GBS disease cases are occurring among infants born to women with negative prenatal GBS culture screens. Great Basin brings innovative technology to molecular diagnostic testing with the relative sensitivity of its assay over traditional culture method being 97.9 percent versus 42.3 percent. Additionally, the Company’s GBS assay has a simple workflow that saves critical time for lab clinicians and Great Basin’s no-cost instrumentation and low per-test costs streamlines entry into molecular testing.
The Company also announced today the GBS test has been released as a CE-IVD Mark under the European Directive on In Vitro Diagnostic Medical Devices, making the test commercially available to more than 32 countries in Europe through the Company’s European distributor network. This is the second CE marked molecular diagnostic assay designation for Great Basin following its test for C. diff. Business Wire
GBSN Technical Analysis
GBSN hit an all time high when it skyrocketed 54.83% to $5.48 on April 22, 2015, the date the U.S. Food and Drug Administration approved its molecular diagnostic test for Group B Streptococcus (GBS). Unfortunately since that date, the stock has been fading. However, with today’s gap up in price it spiked above the 8 and 20 day moving average. Going forward, we can see if it holds the moving averages and the price continues to rise or if it continues to fade. The Street
Company Profile
Great Basin Scientific, Inc., a molecular diagnostic testing company, doing business as Great Basin Corporation, develops and commercializes molecular diagnostic systems that are designed to test hospital-acquired infections. The companys platform provides C. diff test, a rapid medical diagnostic test for the detection of C. diff, a gram-positive bacteria that causes severe diarrhea and other intestinal disorders. It also provides Group B streptococcus test, which is used to detect Group B streptococcus from an anal/vaginal swab of a pregnant woman. The companys assays in clinical trials include Staphylococcus identification and resistance blood infection panel that is designed to identify species of Staphylococcus infections, detect the mecA gene that confers drug resistance directly from positive blood cultures, and provide information on the antibiotic resistance profile of the bacteria; and Shiga toxin producing Escherichia coli (E. coli) test that identifies shiga toxin produced by E. coli. Its assays under development include Staphyloccocus aureus (SA) pre-surgical nasal screen, a rapid test for the presence of SA in the nasal passages of a pre-surgical patient; food borne pathogen panel, which is designed to detect the causes of food poisoning; and Candida blood infections panel that is designed to identify the five species of Candida directly from positive blood cultures. The company sells its diagnostic tests through a direct sales force in the United States, as well as through distributors in the European Union and New Zealand. The company was formerly known as Diagnostic Micro Arrays, Inc. and changed its name to Great Basin Scientific, Inc. in April 2006. Great Basin Scientific, Inc. is headquartered in Salt Lake City, Utah. Yahoo Finance
