Biomerica Inc. (BMRA) shares surged 6.69% in after-hours on Friday, November 05, 2021, and closed the week at $5.26. Even in the regular trading session, BMRA’s stock gained 11.79%. BMRA shares have fallen 16.30% over the last 12 months, and they have moved up 7.41% in the past week. Over the past three months, the stock has gained 22.33%, while over the past six months, it has jumped 19.66%.
Let’s have a look at its recent news and developments.
Notice of Allowance for BMA from Canadian Patent Office
On November 04, 2021, the Canadian Patent Office issued a notice of allowance for Biomerica’s (BMRA) patent application about the Company’s InFoods® diagnostic guided therapy platform technology that offers a novel approach in the treatment of patients suffering from Irritable Bowel Syndrome (IBS).
IBS is a chronic, often debilitating, functional gastrointestinal disorder with symptoms that include abdominal pain, bloating, and altered bowel behaviours, such as constipation and/or diarrhea, or alternating between the two.
BMRA new website
On October 29, 2021, Biomerica, Inc. (BMRA) launched its new website for the Aware® at-home breast self-exam pad, in conjunction with Breast Cancer Awareness month. Breast cancer is the most commonly-diagnosed cancer in women.
The Aware Breast exam pad is an FDA approved device, which increases sensitivity in breast self-exams, making a self-exam easy and convenient.
BMRA EZ Detect™ Colorectal Screening Test at Walmart
On October 19, 2021, Walmart commenced in-store sales and rollout of the Biomerica (BMRA) EZ Detect™ colorectal disease screening test within the nationwide Walmart retail system. The product is projected to be on the shelf in over 4,600 Walmart Stores nationwide over the next two weeks.
BMRA recent financial results announcement
On October 15, 2021, Biomerica, Inc. (BMRA) reported its first-quarter fiscal 2022 financial results, which ended on August 31, 2021.
BMRA Q1 2022 financial highlights
- BMRA reported net sales of $1.2 million in Q1 20222 as compared to net sales of $1.1 million in Q1 2021.
- Sales, general and administrative expenses were $1.0 million for the three months ended August 31, 2021, compared to $1.3 million for the same period in the previous year.
- Research and Development expenses were $0.4 million for Q1 2022 compared to $0.7 million for the same period in the previous year.
- It reduced net loss to $1.5 million for Q1 2022 compared to a net loss of $1.9 million in Q1 2021.
Conclusion
The recent notice of allowance from the Canadian patent office was the reason behind its top-notch performance on Friday. we can expect it to continue its positive performance on Monday as well.
