- The stock price of GBS Inc (NASDAQ: GBS) increased by over 45% pre-market. These are the details.
The stock price of GBS Inc (NASDAQ: GBS) – a life sciences company developing non-invasive, real-time diagnostic testing for patients and their primary health practitioners at point-of-care – increased by over 45% pre-market. This is a continuation in momentum from yesterday as it went up 19.02%, going from a previous close of $3.05 to $3.63.
The company shares have been trending upwards since the company made a big announcement on Tuesday morning. On Tuesday morning, the company announced survey results from over 300 patients globally as part of its development and go-to-market strategy.
As GBS has been advancing to clinical trials of its saliva glucose biosensor, it conducted a global voice of customer survey of diabetes patients to verify the desirability, discuss the applications in daily life, and review the product features of its Saliva Glucose Biosensor. The comprehensive global survey had featured over 300 patients worldwide living with diabetes revealed strong support for a non-invasive alternative to current Standards of Care (SOC) in glucose monitoring.
In all of the target markets, 90% of patients responded positively to the Biosensor Platform. For example, 7 out of 10 patients were “seriously interested” in purchasing the product when it’s released, and 3 out of 10 wanted to be placed on the waiting list ahead of release. While patients in the U.S. indicated the price of a pain-free alternative to current glucose monitoring would play a role in determining their decision to upgrade to a new device, patients in China also indicated price was not an issue as long as the product was accurate and reliable.
All the devices currently available to monitor glucose levels require patients to pierce their skin and fall into three main categories:
— Self-monitoring blood glucose (SMBG) devices, where people prick their finger up to 10 times per day for testing.
— Continuous glucose monitoring (CGM) devices, where glucose levels in fluid surrounding body cells (interstitial fluid) are automatically tested with a sensor inserted under the skin and is accompanied by finger-pricking to test blood glucose when required.
— Flash glucose monitoring (FGM) devices, where glucose levels in interstitial fluid are monitored with a sensor inserted on a patient’s upper arm and a separate touchscreen reader device provides analysis, however, finger-pricking is required to test blood glucose when needed.
Another reason why the stock price of GBS could be going up is due to a sympathy play with Senseonics. Retail investors active on social media have been driving up the stock price of Senseonics Holdings this past week. And the stock price of the company has been trending upwards following positive results from a study evaluating the accuracy of its continuous glucose monitoring (CGM) system about a week ago.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.