Shares of Great Basin Scientific (OTCQB: GBSN) are up 7% mid-day on news that the company has received U. S. Food and Drug Administration (FDA) 510(k) clearance for its Stool Bacterial Pathogens Panel (SBPP). FDA clearance now allows the company to begin actively marketing SBPP to its current customer base of over 230 hospitals and labs, as well as new customers. “We are excited to begin actively marketing this panel, which is priced below likely reimbursement rates, and expect demand for SBPP to add additional revenue for the company, with significant revenue growth from the product expected later in 2017 and early 2018. We also anticipate that with its higher ASP and strong gross margins, SBPP will be a key contributor to Great Basin’s profitability goals,” Great Basin Scientific co-founder and chief executive officer Ryan Ashton stated in the news release.
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About Great Basin Scientific
Great Basin Scientific is a molecular diagnostics company that commercializes breakthrough chip-based technologies. The company is dedicated to the development of simple, yet powerful, sample-to-result technology and products that provide fast, multiple-pathogen diagnoses of infectious diseases. The company’s vision is to make molecular diagnostic testing so simple and cost-effective that every patient will be tested for every serious infection, reducing misdiagnoses and significantly limiting the spread of infectious disease. For more information, visit www.gbscience.com.
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