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BioStem Technologies pursues shift to hospital channel sales and cost reductions

The Motley Fool +1 · ·by G4L

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BSEM BioStem Technologies Inc
$1.05 -19.23%
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  1. 1BioStem Technologies reported $7.6 million in third-quarter revenue and a shift in revenue composition toward the hospital channel.
  2. 2BioStem Technologies is reviewing a plan to reduce annual cash operating expenses by approximately $10 million to $12 million.
  3. 3Following the end of the quarter, $1 million in contributed cash was generated from option exercises by Andrew Van Vurst and Jason Matuszewski.

So what's the key point?

BioStem Technologies is changing its sales method toward hospitals and aims to reduce costs by about $12 million. The company is moving to save money and change its sales structure.

Source The Motley Fool +1 · View original ↗

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