Biomerica Inc Stock Price, News & Analysis

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.

Biomerica, Inc. (Nasdaq: BMRA) announced the launch of its new COVID-19 Antigen Rapid Test, utilizing a less invasive nasal swab method that enhances patient comfort. The test can be administered by various healthcare providers without specialized equipment, delivering results in just 15 minutes. Clinical trials outside the U.S. demonstrated a 92.5% sensitivity and 100% specificity, positioning this test as a reliable option for rapid screening. The company continues to prioritize its InFoods® diagnostic platform, aimed at treating gastrointestinal diseases.

Biomerica (BMRA) reported a significant 208% increase in fiscal Q3 2021 sales, reaching $3.62 million, driven by the launch of its COVID-19 Antigen Rapid Test in Europe post-CE Mark approval. The company also secured two new patents for its InFoods^® diagnostic technology. Despite the revenue growth, Biomerica incurred a net loss of $1.84 million due to higher costs, including a large inventory reserve of $1.43 million. The company expects significant developments in its InFoods clinical trial by Q3 2021.

Biomerica, Inc. (BMRA) reported second quarter fiscal 2021 revenues of $1.373 million, down from $1.596 million YoY, attributed to declining sales in Asia. The net loss increased to $1.485 million, primarily due to rising R&D and administrative costs. The company is under FDA review for its COVID-19 IgG ELISA Test and has received CE marking for its 15-minute Antigen Rapid Test, with significant initial European orders. Patient enrollment for the InFoods® IBS clinical trial is nearing completion, with results expected by July 2021.

Biomerica (NASDAQ: BMRA) has received CE Mark approval for its COVID-19 Rapid Antigen Test, boasting a 94.7% sensitivity and 99.7% specificity compared to PCR tests. The company has secured initial orders from Europe and plans to commence shipping soon. The test is designed for ease of use by healthcare providers, providing results within 15 minutes, which enhances testing efficiency. Biomerica aims to expand its market presence while continuing to develop its InFoods® products aimed at treating Irritable Bowel Syndrome (IBS).