Biostage (BSTG) Tops Q3 EPS by 7c
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Maxim Group Downgrades Biostage (BSTG) to Hold
November 10, 2016 3:36 PM ESTMaxim Group downgraded Biostage (NASDAQ: BSTG) from Buy to Hold, citing a financing overhang.
Analyst Jason Kolbert highlighted:
Biostage reported 3Q16, losing just over $3M and leaving a cash balance of $6M. Given the tough financing environment and our concerns about the cash balance, we are lowering our rating to Hold (from Buy).The FDA requested that Biostage extend its pre-clinical, large animal safety study for its Cellspan Esophageal... More