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Great Basin Scientific, Inc. (GBSN)
Great Basin Scientific, Inc. is a molecular diagnostics enterprise listed on the NasdaqGS. The company's mission is to quickly and accurately diagnose, reduce misdiagnoses, and substantially limit the spread of infectious disease. It commercializes pioneering chip-based technologies. Great Basin's dedication is to the development of simple, yet robust, sample-to-result technology and products, which provide fast, multiple-pathogen diagnoses of infectious diseases. Great Basin Scientific is headquartered in Salt Lake City, Utah.
Great Basin Scientific's sample-to-result molecular diagnostics are fully automated with few hands-on steps. Depending on the target of interest, results are in two hours or less. In addition, sample-to-result molecular diagnostics feature on-demand testing. There is no upfront analyzer cost. Furthermore, sample-to-result molecular diagnostics multiplexes up to 64 distinct targets in a single assay for more answers.
The company's diagnostic system empowers health providers with accurate and timely information. This information is for diagnosing infectious disease. This allows health providers to appropriately treat patients to improve outcomes and support antimicrobial stewardship. This results in shorter hospital stays and money saved.
Great Basin's diagnostic system utilizes an integrated disposable cartridge containing all essential reagents. Moreover, it uses an inexpensive bench-top analyzer. This analyzer executes the assay, interprets the results, and provides electronic output to the clinician. The user-friendly tests deliver more diagnostic data per sample.
Great Basin Scientific has four commercially available assays: The Staph ID/R Blood Culture Panel, Shiga Toxin Direct Test, Group B Streptococcus (GBS) Test, and the Toxigenic Clostridium difficile (C. diff) Test. The company also has five additional tests and panels in the development phase: Nasal S. aureus Pre-Screen, Candida Blood Infections Panel, Stool Bacterial Pathogens Panel, CT/NG Test, and Bordetella Direct Test.
Recently, Great Basin Scientific reported operating results for Q4 and full year ended December 31, 2016. Q4 Revenue rose 39 percent year-over-year; 2016 revenues grew 42 percent. The company's Quarterly Gross Margin improved 42 basis points over Q3 to its best level of the year. Also, the percentage of customers using more than one assay rose 17 percent quarter-over-quarter and 81 percent year-over-year.
Great Basin Scientific also recently announced that it received U.S. Food & Drug Administration (FDA) clearance for its Bordetella Direct Test, following a 510(k) submission on February 1, 2017. Great Basin received notification of clearance from the FDA on Friday, March 31, about 57 days from submission. The Bordetella Direct Test expands the company's menu of FDA cleared assays to five.
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