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POMPANO BEACH, Fla. - BioStem Technologies, Inc. (OTC:BSEM) has appointed Brandon Poe as its new Chief Financial Officer, the company announced Thursday. Poe, who has served on BioStem’s board of directors since 2022, replaces Michael Fortunato, who has transitioned to the role of Chief Accounting Officer. Get detailed insights into companies like BioStem with InvestingPro’s comprehensive research reports, covering over 1,400 US stocks.
Poe brings over 25 years of healthcare and life sciences financial experience to the position. He most recently served as CFO at Midi Health, Inc., a digital women’s healthcare company, and previously held the same position at Jumpcode Genomics, Inc. His career also includes eight years at Illumina, Inc. (NASDAQ:ILMN), where he rose to Vice President of Finance for Product Development, Research and Global Operations. According to InvestingPro, Illumina currently generates $4.28 billion in revenue with a robust gross profit margin of 68.16%. The company has received positive attention from analysts, with 16 analysts recently revising their earnings estimates upward.
"Brandon brings proven financial leadership across life sciences, medical devices, and healthcare services, with deep expertise in capital markets, strategic planning, and operational excellence," said Jason Matuszewski, Chairman and CEO of BioStem, in a press release statement.
BioStem Technologies specializes in developing and manufacturing placental-derived products for advanced wound care. The company utilizes its proprietary BioREtain processing method to create allografts for regenerative therapies.
The company’s portfolio includes several placental allograft products that are processed at its FDA-registered and AATB-accredited facility in Pompano Beach, Florida.
Poe holds an undergraduate degree from Bucknell University and an MBA from the University of Chicago’s Booth School of Business.
According to the company announcement, BioStem is working toward an uplisting to the Nasdaq exchange as part of its growth strategy.
In other recent news, Illumina Inc. reported its second-quarter 2025 earnings, exceeding analysts’ expectations. The company announced an earnings per share (EPS) of $1.19, which was a 17.8% surprise compared to the forecasted $1.01. Illumina’s revenue for the quarter reached $1.06 billion, slightly surpassing the anticipated $1.05 billion. These developments highlight the company’s ability to outperform market predictions. Despite these positive earnings results, Illumina’s stock experienced a decline in after-hours trading. The stock closed at $106, down from its previous close of $106.66. These recent developments reflect the company’s financial performance and market reception.
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