Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Great Basin Scientific Inc (GBSN)’s Shares Surge After Commercial Launch of Group B Strep Test; Will Hedge Funds Finally Buy In?

Page 1 of 2

The shares of Great Basin Scientific Inc (NASDAQ:GBSN) are trading 14.81% higher from their closing price yesterday as the company announced the commercial launch of its Group B Strep Test. The molecular diagnostic testing company has reported an excellent response from the market and this is the second successful test launch from the company after its clostridium difficile (C. diff) test. The Group B Streptococcus (GBS) test received approval from the U.S. Food and Drug Administration in April and it will be available for use in U.S. hospitals and laboratories after the launch.

Top Jobs in Health Care in 2014

Vista Labs is among one of the earliest adopters of the GBS test and the stand-alone reference lab said, “The ease of use with no prep steps to run this assay—compared to our prior non-molecular method—provided a huge incentive for us to adopt this test.” While discussing the response from the market, the Chief Executive Officer and co-founder of Great Basin Scientific Inc (NASDAQ:GBSN), 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…”

Earlier in June, the National Institutes of Health (NIH) gave a $5 million grant to Great Basin Scientific Inc (NASDAQ:GBSN) and Brigham Young University for the purposes of developing a test to detect bacteria responsible for carbapenem-resistant Enterobacteriaceae (CRE). The grant is a part of President Obama’s National Action Plan for Combating Antibiotic-Resistant Bacteria mission and it will help the company in developing a diagnostic test that could detect the bacteria within an hour. Under the terms of the grant, the test is being developed to detect the presence of bacteria in a whole blood specimen within an hour of initialization. Robert Jenison, Chief Technology Officer and VP of Research and Development, said, “By avoiding time-consuming sample purification and multiplex limitations of traditional polymerase chain reaction (PCR) tests, we are working towards offering better clinical outcomes for those infected with CRE and other deadly superbugs – especially critical given the rising incidence of CRE outbreaks like those we saw recently in California.”

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!