Bioanalytical Systems, IncBASI recently introduced the 'Embrace Automation grant program' featuring 'BASi Culex NxT Automated Blood Sampling System and Raturn,' an add-on to the company's flagship 'BASi Culex' sampling platform.
The system (Culex grant program) is a highly exclusive automated sampling platform, which manifests on blood, bile and metabolites of living animals, irrespective of their size.
Notably, the customers gain a free thirty-day trial to experience the innovation for first-hand use.
Coming to share price movement, stock price of Bioanalytical dropped 2.5% to close at $1.17 following the news. A further analysis shows that current market trends lack luster, as the company represents a negative one-year return of 28.6%, way below the S&P 500's return of 9.3% over the same time frame.
Despite such dismal market sentiments, management is quite optimistic regarding the launch, as Bioanalytical provides researchers (using this platform) with additional benefits and support, along with the system.
BIOANALYTIC SYS Price
Market trends for Bioanalytical are unimpressive with regards to the one-year-return metric. In fact, a glimpse at the third quarter of fiscal 2016 results reveal that the company witnessed year-over-year deterioration in revenues and adjusted earnings (except for product segment revenues that surged 11.4%).
Nevertheless, the launch should help the company boost product revenues going ahead. Meanwhile, a report by the Markets And Markets forecasts that the global blood culture tests market will reach a worth of $4,768.9 million by 2021.
Banking on such encouraging data, we expect Bioanalytical to gain considerable traction with the latest launch and also make a turnaround in the days to come.
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