Virtually unknown nanocap biotech stock, Bio-AMD (BIAD) has announced a major revenue contribution of $1 million USD from the $9 Billion market cap Japanese health care giant, Sysmex Corp. The funds will be deployed for development of Bio-AMD’s Point of Care coagulation diagnostic system (“COAG”).
Bio-AMD has a market cap of approximately $8 million and until recently has been obscure and thinly traded. My partner and I believe this will be changing soon, as the company has several novel and patent-pending products in development in addition to their just-announced partnership with Sysmex Corp.
We will be talking to management today to learn more and will have a full report on BIAD available for subscribers in the near term. What we know at present is the company has not been diluting shares, having the same 44,525,966 shares issued and outstanding now as they reported back in December 31, 2013. Bio-AMD also reported current assets of just over $1 million last quarter (prior to the Sysmex investment), and under $40,000 in total liabilities (see most recent 10-Q).
We believe the investment from Sysmex may be followed by additional funding and that a commercialization agreement may be the end result.
More to follow- stay tuned.