Biomerica Inc Stock Price, News & Analysis

Biomerica, Inc. (Nasdaq: BMRA) has announced the availability of its inFoods® IBS treatment at Gastro Health's Miami office. This innovative approach allows patients to identify and eliminate foods that trigger Irritable Bowel Syndrome (IBS) symptoms, showing significant improvements in symptom severity, particularly Abdominal Pain Intensity (API). A clinical study demonstrated that the inFoods® IBS diet can yield better results than traditional IBS medications without unwanted side effects. Gastro Health is expanding the availability of this treatment across its locations. This partnership aims to provide personalized healthcare solutions for the 40 million Americans suffering from IBS, focusing on long-term symptom management rather than temporary relief.

Biomerica, Inc. (BMRA) reported its fiscal third quarter and nine-month results for the period ending February 28, 2023. The company registered consolidated net revenues of $4.2 million, down from $13.6 million in the same period in fiscal 2022, largely due to the cessation of Covid test sales. However, excluding Covid-related revenues, the company saw a 16% increase in revenue. For Q3 alone, revenues were $1.1 million, a decrease from $7.6 million year-over-year, alongside a net loss of $1.6 million. To support the upcoming launch of its inFoods^® IBS product, Biomerica recently closed a public offering at $2.40 per share, yielding approximately $7.4 million in proceeds. The validation testing for the inFoods IBS test has completed, and patient testing is underway.

Biomerica, Inc. (Nasdaq: BMRA) has completed validation testing for its InFoods® IBS laboratory developed test (LDT), now available for commercial distribution. The test aims to identify unique food triggers for IBS symptoms, a condition affecting over 40 million Americans, with an associated cost of $30 billion annually. Clinical trial results indicate that InFoods® significantly improves Abdominal Pain Intensity (API) compared to placebo, showing comparable efficacy to existing IBS medications. The launch is expected to drive demand from gastroenterologists, facilitated by experienced management overseeing commercialization and future FDA marketing authorization.

Biomerica, Inc. (NASDAQ: BMRA) has successfully closed its underwritten public offering of 3,333,333 shares of common stock at a price of $2.40 per share, generating total gross proceeds of $8 million. The offering was led by Craig-Hallum Capital Group LLC as the sole managing underwriter. The net proceeds will be utilized for general corporate purposes, which include advancing clinical studies, enhancing sales and marketing efforts, research and development, acquisitions, and other operational needs. The shares were offered under a previously filed shelf registration statement with the SEC.

Biomerica, Inc. (NASDAQ: BMRA) announced the pricing of its underwritten public offering, consisting of 3,333,333 shares of common stock at $2.40 each, expected to generate approximately $8 million in gross proceeds. The offering, managed by Craig-Hallum Capital Group LLC, is set to close on March 7, 2023, pending customary conditions. Proceeds will fund various corporate activities, including clinical studies, marketing expansion, R&D, and general working capital. The shares are offered under an SEC shelf registration statement filed previously. Full details will be available in the final prospectus supplement.

Biomerica, Inc. (NASDAQ: BMRA) has announced an underwritten public offering of its common stock, with all shares being offered by the company subject to market conditions. Craig-Hallum Capital Group LLC is the sole managing underwriter. The net proceeds from this offering are intended for various corporate purposes, including conducting clinical studies, expanding marketing activities, developing new products, and general working capital needs. The offering will be made under a previously filed shelf registration statement with the SEC.