Biomerica Inc Stock Price, News & Analysis

Biomerica, Inc. (NASDAQ: BMRA) reported a 10% revenue increase for Q1 fiscal 2022, totaling $1.2 million, compared to $1.1 million in the same period the previous year. Sequentially, revenues grew 20% from the last quarter. The net loss narrowed to $1.5 million, down from $1.9 million year-over-year. A strong customer backlog exceeding $1.5 million and the recent launch of its EZ Detect™ Colorectal Screening Test at Walmart are noteworthy highlights. The company expects to file for FDA clearance for its hp+detect™ product by year-end, further enhancing its portfolio.

Biomerica, Inc. (BMRA) has partnered with Walmart to sell its EZ Detect™ colorectal disease screening test online, marking a significant retail expansion. The EZ Detect™ test allows for at-home screening without stool handling, detecting occult blood within two minutes. With colorectal cancer as a leading cause of cancer death in the U.S., the product aims to increase screening rates. Biomerica is also negotiating international distribution agreements. The CEO highlighted the growing trend of at-home testing as a potential driver for sales.

Biomerica (NASDAQ: BMRA) anticipates final patient enrollment in its InFoods^® IBS Diagnostic-Guided Therapy trial to conclude by the end of October, with top-line results expected by year-end. This innovative therapy targets the $30 billion IBS market, addressing symptoms triggered by specific foods affecting approximately 40 million Americans. The study involves major institutions like Mayo Clinic and aims to gain FDA approval pending positive outcomes. Additionally, a point-of-care version is in development for easier testing, indicating significant market potential.

Biomerica (BMRA) reported fiscal 2021 revenues of $7.2 million, a 7.6% increase from $6.7 million in 2020, but also a net loss of $6.5 million compared to $2.3 million in the prior year. The company is rapidly advancing its InFoods® IBS Endpoint Trial, with full enrollment expected shortly. Additionally, Biomerica has received multiple patent allowances for its InFoods® Technology Platform, providing protection through 2036. The FDA filing for the H. Pylori product is anticipated in October 2021. The company is also negotiating sales agreements for its EZ Detect™ colorectal disease test.

Biomerica (NASDAQ: BMRA) received a notice of allowance for its first patent in Japan, relating to a novel treatment for depression. This patent enables the identification of specific foods that may worsen depressive symptoms. Recent studies indicate a strong connection between Irritable Bowel Syndrome (IBS) and depression, with 44% to 84% co-occurrence in patients. Biomerica’s InFoods® technology can determine adverse immune responses to certain foods, allowing for dietary adjustments to help alleviate depression. The company has obtained eight patents globally for its IBS technology and continues to seek additional patent protections.

Biomerica announces the launch of its new EZ Detect™ Colon Disease Test website alongside a digital health advertising campaign. The website provides critical information on colorectal disease detection and treatment, aimed at increasing product sales. The company is in discussions with major retailers to enhance distribution of the EZ Detect™ test, which is a simple, at-home diagnostic tool for detecting hidden blood in stool, a key indicator of colorectal disease. Colorectal cancer is a leading cause of cancer deaths in the U.S., emphasizing the importance of early detection.

Biomerica (NASDAQ: BMRA) has signed a five-year exclusive distribution agreement with a Canadian partner for its new Helicobacter pylori test, hp+detect™. This product aims to identify and monitor H. pylori infection, linked to gastric ulcers and cancer, addressing the 35%-40% infection rate in the U.S. The partner will seek Health Canada clearance while Biomerica also targets CE Mark and FDA clearance. The hp+detect™ test is designed for higher sensitivity and specificity compared to existing market products, fulfilling a critical need in early disease detection and treatment monitoring.

Biomerica (NASDAQ: BMRA) has announced a significant milestone with the Mexican Patent Office granting a notice of allowance for a patent on its InFoods^® technology, addressing Irritable Bowel Syndrome (IBS). This technology helps identify specific foods that may trigger IBS symptoms for patients, thus offering a personalized dietary solution. The recent patent joins similar protections in Japan and Korea, enhancing Biomerica's global presence. CEO Zack Irani stated that this development validates their unique approach to IBS treatment and is part of their strategy to expand intellectual property internationally.

Biomerica, Inc. (Nasdaq: BMRA) announced its participation in the upcoming Truist Life Sciences Series and LD Micro Invitational XI investor conferences. CEO Zack Irani will present virtually at the LD Micro event on June 8 at 2:30 PM ET. Additionally, Biomerica will conduct one-on-one investor meetings on June 10 as part of the Truist series. Biomerica focuses on developing advanced diagnostic and therapeutic products, particularly for gastrointestinal and inflammatory diseases, aiming to improve health outcomes and reduce healthcare costs.