If you’ve never heard of Great Basin Scientific (OTCMKTS: GBSN), it’s a molecular diagnostics company committed to the development of simple, but effective, sample-to-result products and technology, which would provide fast multiple-pathogen diagnoses of infectious diseases. With that in mind, Great Basin Scientific is innovating the molecular diagnostics industry and empowers health care providers with quick and accurate answers to which treatment paths would suit patients for the best potential outcomes. Consequently, its technology and products could lead to shorter hospital stays and cost savings.
Great Basin Scientific Senior Director Won a 2017 Women Worth Watching in STEM Award
On March 2, 2017, Great Basin Scientific announced that its Senior Director of Regulatory and Clinical Affairs, Dr. Suzette Chance, won a 2017 Women Worth Watching in STEM Award, which was awarded by Profiles in Diversity Journal.
Senior Vice President of R&D and Chief Technology Officer of Great Basin Scientific, Rob Jenison, stated, ““In the short time since Suzette joined Great Basin, she has shepherded the clinical trials and FDA submissions for our last three assays – one of which is now commercially available, with two others awaiting FDA clearance – a feat that is nothing short of remarkable…Her professionalism, commitment to quality and prior success in running clinical trials has had a tangible impact on the Company’s success in accelerating the build-out of our product menu. We are so pleased to have Suzette on our team and congratulate her on this well-earned recognition.”
Dr. Chance joined GBSN in February 2016, and has over 20 years of experience in In Vitro diagnostics, product innovation and design, as well as working with clinical and regulatory affairs. Dr. Chance has developed three patents and co-authored 13 published papers. With Dr. Chance gaining some recognition, GBSN could be put on the map soon.
Journal of Clinical Microbiology Publishes Multicenter Study
Now, that’s not the only good piece of news the company received this year. On February 15, 2017, Great Basin Scientific announced the Journal of Clinical Microbiology published results of a multicenter study, which displayed the effectiveness of GBSN’s Staph ID/R Blood Culture Panel in quickly and accurately detecting several species of Staphylococci and the mecA gene directly from a positive blood culture.
According to GBSN CTO and Senior VP of R&D, “Bloodstream infection-related sepsis, including those caused by MRSA and other pathogenic Staphylococcus species, is not only a leading cause of morbidity and mortality in the U.S., but is also associated with over $17 billion in rising healthcare costs annually. Traditional blood culture methods provide physicians with a diagnosis 48 to 72 hours after a positive sample is identified, delaying appropriate treatment and putting the patient at further risk…Great Basin’s Staph ID/R Blood Culture Panel is proven to provide highly accurate and actionable results in under two hours. Our panel potentially eliminates 32 to 88 hours of inappropriate antibiotic therapy, thereby potentially reducing length of patient stay and improving patient care – creating time and cost efficiencies for hospitals and labs of all sizes.”
The study was led by Dr. Gerald A. Denys in the Department of Pathology & Laboratory Medicine at Indiana University. This study indicated that GBSN’s Staph ID/R Blood Culture Panel accurately identified positive results Staphylococcus species 99.4% of the time, while the Culture Panel correctly identified negative results 99.9% of the time.
Moreover, the study showed that the culture panel accurately identified the mecA gene, from positive samples, 99.7% of the time, while negative results were properly identified 99.2% of the time. The mecA gene is a major drug-resistance marker, resistant to methicillin and other beta-lactams and creating the superbug MRSA.
The Bottom Line
The leadership and its innovative products could propel it to the forefront of the industry if GBSN properly executes and keeps creating innovative and effective technology and products. With that in mind, GBSN molecular assay could be more accurate and effective than conventional and traditional biochemical and cefoxitin disk methods.
The news of Dr. Suzette Chance, won a 2017 Women Worth Watching in STEM Award may have been one of the catalysts that pushed GBSN higher.
Here’s a look at GBSN’s recent stock performance:
On Friday, March 3, 2017, GBSN was up 27.27% on the day, and 40% over the past week. However, according to Morningstar, the stock has been underperforming the diagnostics and research industry, and GBSN was down over 90% YTD, while the diagnostics and research industry was up 11% over the same period. That being said, the stock is well off of its 52-week highs, and could carry a high degree of risk. However, from a risk-reward ratio, the stock could be at attractive levels.