Walmart to Expand Sales of Biomerica’s Aware® Breast Self Exam; Product will now be available in over 2400 Walmart stores

Rhea-AI Summary

Biomerica, Inc. (NASDAQ: BMRA) announces a partnership with Walmart for the Aware® Breast Self Exam device, now available in over 2400 stores. This FDA-cleared device enhances sensitivity for self-exams, crucial for early breast cancer detection, which significantly improves survival rates. The product, retailing at $19.95, is expected to boost visibility and accessibility for women. CEO Zack Irani emphasized the importance of early detection and the role of their product in cancer survival. Discussions for further distribution partnerships are ongoing.

Positive

• Partnership with Walmart increases visibility and access for the Aware® Breast Self Exam device.
• FDA-cleared device enhances sensitivity, promoting early detection of breast cancer, potentially saving lives.
• Product availability in over 2400 Walmart locations supports women's health initiatives.

Negative

• None.

• Simple at-home device to increase sensitivity in breast self-exams
  
  
• Early detection of breast cancer saves lives
  
  
• About 80% of breast cancer is detected by women themselves who notice changes in their breast
  

IRVINE, Calif., Oct. 14, 2022 (GLOBE NEWSWIRE) -- Biomerica, Inc. (Nasdaq: BMRA) (the “Company”) today announced that under a General Merchandise Supplier Agreement with Walmart, the Company’s Aware® Breast Self Exam device will now be sold in over 2400 Walmart’s retail stores. In July, the Company announced that Walmart had begun selling the Aware product online through Walmart.com. Walmart has now determined to also sell Aware in-store, at approximately 50% of their retail store locations. Biomerica has received and shipped an Initial stocking order from Walmart, and the product should be on store shelves within weeks. The product retails for $19.95.

The Biomerica FDA cleared Aware® Breast Self Exam device is a revolutionary way for women to enhance tactile sensitivity to detect changes or irregularities in breast tissue, making breast self-exams easy and convenient. The Aware^® device can facilitate an effective self-exam and can serve as a reminder to perform a breast self-exam every month.

Zack Irani, Chief Executive Officer of Biomerica, commented, “Overcoming breast cancer is all about early detection. Our unique product provides a tool to assist women in potentially detecting breast abnormalities early. As one of the largest retailers in the world, Walmart provides unmatched visibility and distribution for this potentially life-saving product. We look forward to supporting Walmart in the roll-out, ensuring that as many women as possible have access to Aware®.”

Breast Cancer is the most common cancer among women. About 80% of breast cancers are detected because women themselves notice changes in their breasts^[3], highlighting the important role that each woman can play in her own health. Unfortunately, every woman is potentially at risk, as over 70% of women diagnosed have no family history of breast cancer. Currently, there is no way to prevent breast cancer, so detecting the disease early is key to effective treatment. Early detection significantly improves the chances that breast cancer can be diagnosed and treated successfully. Survival rates are as high as 99% when the cancer is found early and is still localized in the breast. However, if the cancer has spread to the regional lymph nodes, the 5-year survival rate is 86%. ^[1,2] A Breast Self-Examination (BSE) is not a replacement for regular medical visits and periodic ultrasound or mammography. All three steps are important to finding breast cancer early. The importance of early detection cannot be overemphasized.

For further information about the Aware^® Breast Self Exam Product, please visit https://AwareBSE.com.

Biomerica is in discussions with other partners for distribution of the Aware^® Breast Self Exam product in the USA and markets outside of the U.S.

About Biomerica (NASDAQ: BMRA)

Biomerica, Inc. (www.biomerica.com) is a global biomedical technology company that develops, patents, manufactures and markets advanced diagnostic and therapeutic products used at the point of care (in home and in physicians’ offices) and in hospital/clinical laboratories for detection and/or treatment of medical conditions and diseases. The Company’s products are designed to enhance the health and well-being of people, while reducing total healthcare costs. Biomerica’s primary focus is on gastrointestinal and inflammatory diseases where the Company has multiple diagnostic and therapeutic products in development.

1. https://www.webmd.com/breast-cancer/guide/breast-cancer-survival-rates. Accessed 08 July 2022
2. https://www.cancer.net/cancer-types/breast-cancer/statistics. Accessed 08 July 2022
3. https://www.pinkribbon-deutschland.de/vorsorge-fakten/fakten, accessed 02 AUG 2022

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Biomerica) contains statements that are forward-looking, such as statements relating to the efficacy of the Company’s Aware^® Breast Self-Exam device and other tests, FDA clearance of the Company’s products, possible online and/or in-store offering and sale of the Aware^® Breast Self-Exam device at Walmart and other potential distributors and retailers, the rapidity of testing results, negotiations with international distribution partners, uniqueness of the Company’s products, test result accuracy of products, pricing of the Company’s test kits, demand for domestic or international orders, potential revenues from the sale of current or future products, availability of the Company’s Aware^® Breast Self-Exam device and other test kits, and patent protection on any of the Company’s products or technologies. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, including, without limitation: results of studies testing the efficacy of the Company’s tests and other products; regulatory approvals necessary prior to commercialization any of the Company’s products; availability of the Company’s test kits and other products; capacity, resource and other constraints on our suppliers; dependence on our third party manufacturers; dependence on international shipping carriers; governmental import/export regulations; demand for our various tests and other products; competition from other similar products and from competitors that have significantly more financial and other resources available to them; governmental virus control regulations that make it difficult or impossible for the company to maintain current operations; the Company’s ability to comply with current and future regulations in the countries where our products are made and sold and the Company’s ability to obtain patent protection on any aspects of its rapid test technologies. Accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. Additionally, potential risks and uncertainties include, among others, fluctuations in the Company's operating results due to its business model and expansion plans, downturns in international and or national economies, the Company's ability to raise additional capital, the competitive environment in which the Company will be competing, and the Company's dependence on strategic relationships. The Company is under no obligation to update any forward-looking statements after the date of this release.

Corporate Contact:
Investor Relations
Investor@biomerica.com
949-645-2111

Source: Biomerica, Inc.

FAQ

What retail stores will sell the Aware® Breast Self Exam device?

The Aware® Breast Self Exam device will be sold in over 2400 Walmart stores.

What is the price of the Aware® Breast Self Exam device?

The device retails for $19.95.

Why is early detection of breast cancer important?

Early detection significantly improves survival rates, with localized breast cancer having a survival rate of up to 99%.

What is Biomerica's stock symbol?

Biomerica's stock symbol is BMRA.

What is the role of the Aware® device in breast cancer detection?

The Aware® device enhances tactile sensitivity for effective self-exams, aiding in early detection of breast abnormalities.