It’s a golden age in biotech and finding the next big winners is on savvy investors’ minds. One little-known biotech company is making waves and could be one of 2024’s most promising companies to have your eyes on. They have experienced a rapid rise over the past year. 2023 was a year of tremendous growth, progress, and achievement, attributed to their successful launch of the company’s Amniowrap2™, an innovative placental-derived allograft product designed to address a broad spectrum of wound applications. A significant factor contributing to this success has been the widespread acceptance and utilization of Amniowrap2™ by medical professionals, underscoring its effectiveness and growing prominence in the healthcare industry.
This company gained momentum in the second half of 2023 when the Centers awarded the company a valuable Q code for its Vendaje AC and AmnioWrap2 products for Medicare and Medicaid Services. Most recently, the company announced that its Healthcare Common Procedure Coding System code for Vendaje AC became effective and that the Center for Medicare Services established national pricing for AmnioWrap2 in all 50 states and territories. Additionally, the company isn’t resting on its success as management recently initiated a clinical trial evaluating Vendaje in diabetic foot ulcers—a market with enormous and growing potential! BioStem had an outstanding fourth quarter. Revenue reached $11.5 million, nearly 14 times higher than revenue of roughly $0.8 million for last year’s comparable quarter. The successful commercial launch into the private office setting of AmnioWrap2 drove this growth. They have so many positive developments and catalysts that Zack’s has recently increased its price target to $18.70!
Learn more about why Zack’s has a BULLISH nearly $19 price target right now!
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