Stock Update (NASDAQ:GBSN): Great Basin Scientific Inc Sees 59.4% Growth in Revenue and Provides Customer Acquisition Targets
Great Basin Scientific Inc (NASDAQ:GBSN), a molecular diagnostics company, reported preliminary revenue results for the first quarter 2016. For the first quarter 2016, revenue was $731,422, an increase of 59.4% over the first quarter of 2015. The Company also reported that its customer base of revenue generating customers grew to 222 as of March 31, 2016, an increase of 119.8% over first quarter last year.
“We are extremely pleased with the Company’s execution over the last 12 months, including our ability to significantly grow our customer base, develop and launch new tests, and the accelerating growth in our revenues,” said Ryan Ashton, Co-founder and Chief Executive Officer of Great Basin. “We’re committed to building on this momentum in 2016, by advancing the development of new molecular tests and panels that will differentiate our platform and increase potential revenue per customer. We remain dedicated to executing on the fundamentals that will serve both our target market and our stockholders. (Original Source)
Shares of Great Basin Scientific jumped over 60% to $4.43 in pre-market trading. GBSN has a 1-year high of $12,810 and a 1-year low of $2.52. The stock’s 50-day moving average is $ 5.49 and its 200-day moving average is $84.36.
Great Basin Scientific, Inc. develops and manufactures test kits and analyzers for a patented molecular diagnostic system used in single pathogen tests. The company provides a medical diagnostic test for the detection of Clostridium difficile, a gram-positive bacteria that causes diarrhea and other intestinal disorders. Great Basin Scientific was founded by David C. Ward, Anthony R. Torres and David Spafford on June 27, 2003 and is headquartered in Salt Lake City, UT.