Premier Biomedical Wednesday began its trade on the OTCBB under the ticker symbol “BIEI.” Shares are unmoved at $1.01 on volume of 11.5 million in today’s trade. The company today issued a press release to update on its current and recent endeavors.
Premier Biomedical’s mission is to develop targeted medicines and procedures to address a range of health issues, including Lou Gehrig’s disease, traumatic brain injury (TBI), multiple sclerosis (MS), blood sepsis, and cancer.
The company’s principal technology is based on the Felder Doctrine™ “to physically remove the pathophysiologic basis of the disease,” which it says “constitutes a micro-surgical eradication of the cause of a multitude of diseases and is designed to find cures for 19 of the most severe diseases …”
The company’s proprietary medication, Feldetrex™, is in clinical testing for the relief of symptoms of MS, fibromyalgia, and TBI.
In May, Premier Biomedical signed an agreement with the University of Texas at El Paso, under which they will co-develop the company’s technology. Testing is in progress.
The company also said it received a letter of intent from a representative of the Department of Defense in regards to their working toward joining future development efforts.
For the three months ended March 31, 2012, Premier Biomedical reported a net loss of $26,932, deeper than a loss of $11,564 for the comparable three months of 2011. The company attributes the increased loss to costs to prepare public filings and bring the company to the public market. The company reported no revenues for the 2011, 2012 quarters.
For more information visit www.premierbiomedicalinc.com
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