GREAT BASIN SCIENTIFIC INC Company Expands Product Roadmap for 2016
Salt Lake City, January 5, 2016 - Great Basin Scientific, Inc. (NASDAQ: GBSN), a molecular diagnostics company, today announced it added 46 new customers in the fourth quarter of 2015. As of December 31st, the company had secured 186 U.S. customers, compared to 84 customers reported at the end of December 2014, representing an increase of 121 percent year over year. Further, Great Basin's Group B Streptococcus (GBS) test-which was commercially launched on June 1, 2015-has now been adopted by or is scheduled to be evaluated by 80 sites, which represents 43 percent of the Company's customer base.
Additionally, the Company announced updates to the 2016 product roadmap and status for previously announced products and FDA submissions. Newly announced additional products and timing for 2016 include:
Pertussis/Parapertussis Test - clinical trial expected to commence in first half of 2016
CT/NG Test - clinical trial expected to commence early second half of 2016
The status of previously announced products in development is as follows:
SA Nasal Screen Test - clinical trial expected to commence first half of 2016
Stool Bacterial Pathogens Panel - clinical trial expected to commence in first half of 2016
Candida Blood Infections Panel - clinical trial expected to commence in the second half of 2016
In the second half of 2015, Great Basin submitted its Staph ID/R Blood Culture Panel and Shiga Toxin Direct Test to the U.S. Food & Drug Administration (FDA) for 510(k) clearance following the successful completion of clinical trials. The Company anticipates response from the FDA for both submissions in the first quarter of 2016. Based on initial FDA review of the submissions, the Company anticipates response for the Shiga Toxin Direct Test prior to response for the Staph ID/R Blood Culture Panel due to the complexity of the submission for a panel diagnostic assay.
Ryan Ashton, co-founder and Chief Executive Officer of Great Basin said, "Great Basin is pleased to meet our guidance for customer acquisition in 2015, and we're excited to announce the additions to our product roadmap in 2016."
Great Basin Scientific is a molecular diagnostics company that commercializes breakthrough chip-based technologies. The Company is dedicated to the development of simple, yet powerful, sample-to-result technology and products that provide fast, multiple-pathogen diagnoses of infectious diseases. The Company's vision is to make molecular diagnostic testing so simple and cost-effective that every patient will be tested for every serious infection, reducing misdiagnoses and significantly limiting the spread of infectious disease. More information can be found on the company's website at www.gbscience.com.
This press release includes forward-looking statement regarding future products of the Company, anticipated product development timelines and events, anticipated timing for FDA approvals and other similar statements. Forward-looking statements involve risk and uncertainties, which could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risk and uncertainties include, but are not limited to: (i) our limited operating history and history of losses; (ii) our ability to develop and commercialize new products and the timing of commercialization; (iii) our ability to obtain capital when needed; and (iv) other risks set forth in the Company's filings with the Securities and Exchange Commission, including the risks set forth in the company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2015. These forward-looking statements speak only as of the date hereof and Great Basin Scientific specifically disclaims any obligation to update these forward-looking statements, except as required by law.
Media Contact: Kate Ottavio Kent ICR 203.682.8276
Kate.Ottavio-Kent@icrinc.com
Investor Relations Contact: David Clair
ICR 646.277.1266
David.Clair@icrinc.com
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Great Basin Corp. issued this content on 2016-01-05 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-13 22:57:04 UTC
Original Document: http://gbscience.com/wp-content/uploads/Great-Basin-Announces-186-Customers-to-End-2015.pdf
