Biomerica Inc Stock Price, News & Analysis

Biomerica, Inc. (BMRA) reported a 30% increase in net sales for Q3 2022, totaling $1.67 million compared to $1.26 million in the previous year. However, the company experienced a net loss of $2 million, or $0.16 per share, up from a $1.5 million loss the prior year. This loss is attributed to increased expenses, including higher salaries and legal fees. The company received patent allowances in Australia and Japan for its InFoods® Technology, which treats ADD/ADHD and depression, respectively. Biomerica aims to launch multiple products by year-end 2022, including an IBS test and an H. Pylori product.

Biomerica (NASDAQ: BMRA) recently announced that its Aware^® Breast Self Exam device and EZ Detect™ Colon Disease test are now available on Amazon. The Aware^® device enhances tactile sensitivity for breast self-exams, crucial for early detection of breast cancer, the most common cancer among women. Meanwhile, EZ Detect™ is a two-minute test for hidden blood in stool, an early sign of colorectal cancer. Increased availability on Amazon may enhance sales potential, addressing critical health issues with innovative home testing solutions.

Biomerica, Inc. (Nasdaq: BMRA) announced the upcoming launch of its InFoods® IBS test, expected before the end of 2022. This test will be offered through a CLIA-certified laboratory as a laboratory developed test (LDT). Following successful clinical trials at notable centers like Mayo Clinic, there is significant interest from gastroenterologists. Robert Carlson has been appointed Chief Commercial Officer to oversee the launch and commercialization strategy, aiming for national reimbursement and FDA authorization. Revenues from the InFoods IBS test are anticipated before year-end 2022.

Biomerica, Inc. (Nasdaq: BMRA) reported a remarkable 162% increase in revenues for fiscal 2022, totaling $18.9 million, compared to $7.2 million in fiscal 2021. The net loss also improved to $4.6 million from $7.5 million year-over-year. Significant sales growth was driven by COVID-19 antigen tests and OTC products. Important milestones include positive clinical trial results for its InFoods^® IBS product, six new patents granted, and successful completion of clinical studies for its H. pylori diagnostic test, with FDA clearance anticipated.

Biomerica, Inc. (BMRA) announced that its Aware® Breast Self Exam device will be available in Walmart stores and online, enhancing early breast cancer detection. The Aware® device, FDA-cleared, helps women increase sensitivity during self-exams, crucial since 80% of breast cancers are detected by women themselves. Walmart's extensive distribution network will boost visibility. Studies indicate the device is effective in detecting early breast changes. The product rollout aims to empower women with health management tools and facilitate monthly self-examinations.

Biomerica Inc. (NASDAQ: BMRA) announced participation in the 2022 BTIG Biotechnology Conference on August 8-9 in New York City. The CEO will engage in one-on-one meetings at the event. Biomerica specializes in biomedical technologies, developing diagnostic and therapeutic products for gastrointestinal and inflammatory diseases. Their offerings aim to improve health outcomes while reducing healthcare costs.

Biomerica, Inc. (BMRA) announced that its hp+detect™ diagnostic test for Helicobacter pylori has received the CE Mark, allowing commercialization in the European Union and other international markets. This test identifies H. pylori, a significant cause of gastric cancer, affecting 45% of the population in Europe's largest countries. CEO Zack Irani confirmed plans to market the product while awaiting FDA clearance for U.S. sales. The CE Mark represents a critical step in expanding Biomerica's reach in the diagnostics market.

Biomerica, Inc. (Nasdaq: BMRA) announced the submission of a 510(k) premarket notification to the FDA for its new product, hp+detect™, which detects H. pylori infection, a major contributor to gastric cancer and peptic ulcers affecting about 35% of the U.S. population. The FDA aims to provide a decision within 90 days. Biomerica is also preparing a CE Mark filing for European sales. CEO Zack Irani highlighted the product's accuracy and low-cost manufacturing process, indicating potential for high gross margins.

Biomerica (BMRA) reported its Q3 fiscal 2022 results, showing a revenue of $7.6 million, up over 111% from $3.6 million in Q3 fiscal 2021. The net loss improved to $0.01 per share, compared to $0.18 per share in the same period last year. For the nine months, revenue rose 120% to $13.6 million, with a net loss of $0.22 per share. The company has a backlog of over $4 million in unfilled customer orders and is advancing its InFoods® IBS product, which aims to provide targeted dietary solutions for IBS patients, towards FDA clearance.