Regenerative medicine firm BioStem Technologies Inc (OTCMKTS:BSEM) may have seen its stock trading in a range on Monday but at the same time it ought to be noted that the company was in the news. Yesterday, the company announced its financial results for the first fiscal quarter that had ended on March 31, 2022.
On Friday, BSEM stock ended flat at $1.43 with more than 10 shares, compared to its average volume of 1.3K shares. The stock moved within a range of $1.4300 – 1.4300 after opening trade at $1.43.
Jason Matuszewski, who is the Chief Executive Officer of the company, spoke about the financial results and noted that BioStem was on the path to tremendous growth for the year and also beyond that. The numbers reflect the fact that the company is growing rapidly but it did not elicit much of a reaction from investors.
BioStem managed to bring in revenues to the tune of $2.749 million for the first fiscal quarter and that reflected a year on year rise of as much as 212%. In the prior year period, the company had generated revenues of $0.882 million.
However, it should also be noted that the net losses actually widened to $0.879 million in the quarter from $0.130 million in the prior year period. It reflected a year on year rise in net loss by a staggering 578%.
BSEM stock is trading below the 10-Day and 20-Day Moving averages of $1.56 and $1.57 respectively. However, the stock is trading above the 200-Day moving average of $0.1.20.