BMRA Stock Price: Why It Increased 38%

By Amit Chowdhry ● Oct 2, 2021
  • The stock price of Biomerica, Inc. (NASDAQ: BMRA) increased by 38% in the previous trading session. This is why it happened.

The stock price of Biomerica, Inc. (NASDAQ: BMRA) increased by 38% in the previous trading session. Investors are responding positively to Biomerica announcing that it has entered into a General Merchandise Supplier Agreement with Walmart for the sale of the Company’s EZ Detect colorectal disease screening test within the Walmart retail system. Biomerica has now shipped its first orders of the EZ Detect product to Walmart. And beginning this week, Walmart has begun selling the product through its online sales channel

Plus Biomerica is also in the final phase of working with Walmart to stock and sell the EZ The detect product on the shelf in their stores. And the company is in negotiations with several large partners for the distribution of the EZ Detect product in Asia, Europe, and the Middle East.

The EZ Detect colon disease screening test is the simplest at-home test to detect occult (hidden) blood in a person’s stool — which can be an early warning sign of colorectal diseases, including colon and rectal cancers. And the test does not require handling of stool or dietary restrictions. A person simply places an EZ Detect test pad into the toilet after a bowel movement. A change in the pad’s color to blue/green — which would appear within two minutes — indicates the presence of blood in the stool. The pad is then simply flushed down the toilet.

In a study performed by Johns Hopkins University, EZ Detect was preferred 10:1 by patients over another fecal occult blood test. And published studies have also indicated that the best colorectal screening test is “the one that gets done.”

Other colorectal screening tests require the handling of the stool and delivering or mailing the stool sample to a lab for processing. The handling of the stool results in a high percentage of these competing tests never being performed by patients. But EZ Detect does not require handling of the stool, is simple to perform and provides results in just two minutes.

KEY QUOTE:

“With the current COVID-19 pandemic, consumers have become much more aware of at-home diagnostic testing and are more comfortable performing these tests. For this reason, many global retailers are expanding their focus on selling home health solutions. This growing trend presents many opportunities for our EZ Detect colorectal disease test, our Aware breast self-exam product and other products that we make for in-home use. While there are other choices for colorectal disease screening, EZ Detect™ offers the only alternative that doesn’t require handling of the stool, making our test more appealing and easier to conduct from the consumer perspective. In addition, the agreement for online sales of EZ Detect with Walmart could bring significant exposure to the product here in the US.”

— Zack Irani, CEO of Biomerica

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.