Great Basin Scientific Inc (NASDAQ:GBSN) Making All The Right Moves

Great Basin Scientific Inc (NASDAQ:GBSN) is starting 2016 off on the right foot. The company added 15 customers in the month of January to bring its total customer count to 201. This continues the company's steady pace of growth it started last year. GBSN added 46 new customers in the fourth quarter of 2015. GBSN ended 2015 with 186 U.S. customers, compared to 84 customers reported at the end of December 2014, representing an increase of 121 percent year over yearThis growth just proves that GBSN's platform meets the needs of small, mid-sized, and critical access hospitals. These hospitals have limited budgets and there's a strong need to adopt molecular diagnostics. Great Basin places its analyzer in hospitals at no cost and delivers ease of use, allowing hospitals to quickly and easily adopt fast and accurate molecular diagnostics. The company’s automated molecular diagnostics system uses a unique amplification technology and chip-based detection which afford rapid test turnaround and high sensitivity at a relatively low price point.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. Great Basin'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.GBSN owns three method and method/composition patents related to detection and amplification: methods of isothermal amplification using blocked primers (8,936,921 issued in January 2015), systems and methods for point-of-care amplification and detection of polynucleotides (8,637,250 issued in January 2014) and methods and compositions for amplifying a detectable signal (8,574,833 issued in November 2013). The company also has a non-exclusive license with BioHelix for use of that company’s patented isothermal amplification method using HDA, as well as a license agreement with Integrated DNA Technologies (IDT) for the use of blocked primers in combination with HAD.

Get The Inside Scoop On GBSN By Signing Up To Insider Financial Today!

Commercially available tests from Great Basin include low-plex tests for Clostridium difficile (C. diff) and Group B Streptococcus (GBS). The company is awaiting 510(k) clearances from the U.S. Food & Drug Administration (FDA) for their Shiga Toxin Direct Test, which, upon FDA clearance, will be the only stand-alone test to provide CDC-recommended identification of the high-virulence serotype O157 in conjunction with the Shiga toxin-producing E. coli (STEC) detection; and Staph ID/R Blood Culture panel, a multiplex panel to detect blood sepsis caused by MRSA and other staph species.Among the items we are watching this year 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; 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; and Candida Blood Infections Panel – clinical trial expected to commence in the second half of 2016.We are also pleased that the days of toxic financings and dilution appear to be over for the company. On January 21, 2016, Great Basin converted the remaining 1,221,587 Series C Warrants. It settled 1,416 warrants with cash and settled the remainder by issuing 13.7 million shares of Great Basin common stock. The Company did not issue any of the Pre-funded Rights to acquire its common stock. GBSN has converted all outstanding Series C Warrants into shares of its common stock and therefore now has 75.5 million shares of common stock issued and outstanding, and has no remaining unconverted Series C Warrants.

We Have A Monster Pick Coming Soon!

Sign Up Today!

Great Basin is helping hospitals to accurately diagnose infectious disease and define a clear treatment path sooner for improved patient outcomes, shorter hospital stays and dollars saved in hospitalization costs per patient. This just goes to show you that GBSN has a proven technology, customers and a product needed worldwide. We will be updating Insider Financial with the latest developments on GBSN. Be sure to sign up today and stay on top of all that is happening with GBSN!Disclosure: We have no position in GBSN either long or short. We have not been compensated for this article.