Last $0.42 USD
Change Today -0.0264 / -5.87%
Volume 101.5K
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As of 12:58 PM 10/31/14 All times are local (Market data is delayed by at least 15 minutes).

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03/25/14 - $2.42
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bg medicine inc (BGMD) Details

BG Medicine, Inc., a diagnostics company, develops and commercializes novel cardiovascular diagnostic tests to address unmet medical needs in the United States. The company offers BGM Galectin-3 test, a novel assay for measuring galectin-3 levels in blood plasma or serum for use as an aid in assessing the prognosis of patients diagnosed with heart failure; and CardioSCORE test, which is designed to identify individuals at high risk for cardiovascular events, such as heart attack and stroke. It has license, development, and commercialization agreements with Abbott Laboratories, Alere Inc., bioMérieux SA, and Siemens Healthcare Diagnostics Inc. for the development of galectin-3 test on their automated instrument platforms; and a strategic collaboration with Abbott Laboratories to develop and commercialize galectin-3 assay kits, and related control kits and calibrators. The company was formerly known as Beyond Genomics, Inc. and changed its name to BG Medicine, Inc. in October 2004. BG Medicine, Inc. was founded in 2000 and is headquartered in Waltham, Massachusetts.

23 Employees
Last Reported Date: 03/27/14
Founded in 2000

bg medicine inc (BGMD) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $258.5K
Chief Scientific Officer and Senior Vice Pres...
Total Annual Compensation: $275.0K
Compensation as of Fiscal Year 2013.

bg medicine inc (BGMD) Key Developments

BG Medicine Receives Non-Compliance Notice From NASDAQ

On September 5, 2014, BG Medicine, Inc. received written notice from the Listing Qualifications Department of The NASDAQ Stock Market LLC (NASDAQ) notifying the Company that for the preceding 30 consecutive business days, the Company’s common stock did not maintain a minimum closing bid price of $1.00 (Minimum Bid Price Requirement) per share as required by NASDAQ Listing Rule 5550(a)(2). The notice has no immediate effect on the listing or trading of the Company’s common stock and the common stock will continue to trade on The NASDAQ Capital Market. In accordance with NASDAQ Listing Rule 5810(c)(3)(C), the Company has a grace period of 180 calendar days, or until March 4, 2015, to regain compliance with NASDAQ Listing Rule 5550(a)(2). Compliance can be achieved automatically and without further action if the closing bid price of the Company’s stock is at or above $1.00 for a minimum of 10 consecutive business days at any time during the 180-day compliance period, in which case NASDAQ will notify the Company of its compliance and the matter will be closed. If, however, the Company does not achieve compliance with the Minimum Bid Price Requirement by March 4, 2015, the Company may be eligible for additional time to comply. In order to be eligible for such additional time, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The NASDAQ Capital Market, with the exception of the Minimum Bid Price Requirement, and must notify NASDAQ in writing of its intention to cure the deficiency during the second compliance period. The Company is currently considering available options to resolve this listing deficiency and to regain compliance. However, there can be no assurance that the Company will be able to regain compliance with The NASDAQ Capital Market listing requirements.

BG Medicine, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Full Year of 2014

BG Medicine, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenues of $799,000 compared with $1,006,000 for the same period a year ago. Loss from operations was $1,971,000 compared with $4,549,000 for the same period a year ago. Net loss was $2,169,000 or $0.06 per basic and diluted share compared with $4,837,000 or $0.18 per basic and diluted share for the same period a year ago. The decrease in total revenues reflected a $173,000 decrease in product revenues and a $34,000 decrease in service revenues from the prior year quarter. The decrease in product revenues resulted from a $141,000 decline in orders from its clinical laboratory customer and a $90,000 decline in purchases relating to independent research studies that were partially offset by increased revenues of $58,000 from product sales to other clinical laboratory customers. The reduction in service revenues resulted from the planned completion of the High Risk Plaque initiative in 2013 and its decision to close its research facilities in 2013 as part of its initiative to streamline the operations of the Company. For the six months, the company reported total revenues of $1,538,000 compared with $1,894,000 for the same period a year ago. Loss from operations was $3,918,000 compared with $9,350,000 for the same period a year ago. Net loss was $4,348,000 or $0.14 per basic and diluted share compared with $10,249,000 or $0.39 per basic and diluted share for the same period a year ago. Net cash used in operating activities was $4,992,000 compared with $8,808,000 for the same period a year ago. The company provided earnings guidance for the full year of 2014. Notwithstanding the modest revenue growth that the company is achieving from the sales of its products to the majority of its clinical laboratory customers, the company is no longer expects full year 2014 revenues to exceed its 2013 revenues, in light of the decrease in year-to-date revenues from its clinical laboratory customer and the lack of predictability of sales relating to independent research studies. Nevertheless, for the full year 2014, the company continues to expect to decrease its operating cash burn as compared to 2013.

BG Medicine, Inc. to Report Q2, 2014 Results on Aug 14, 2014

BG Medicine, Inc. announced that they will report Q2, 2014 results on Aug 14, 2014


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