Biomerica, Inc. (BMRA) research, news, and more from GeoInvesting

Company description

Thu, 01 Nov 2012 04:00:00 GMT

Biomerica, Inc. develops, manufactures, and markets medical diagnostic product for the early detection and monitoring of chronic diseases and medical conditions. The company’s diagnostic test kits are used to analyze blood or urine from patients in the diagnosis of various diseases and other medical complications, or to measure the level of specific hormones, antibodies, antigens, or other substances, which might exist in the human body in extremely small concentrations. Its clinical laboratory diagnostic products include tests for bone and anemia conditions, gastrointestinal diseases, food intolerance, and diabetes. The company provides its products primarily to distributors, hospital and clinical laboratories, medical research institutions, medical schools, pharmaceutical companies, chain drugstores, wholesalers, and physicians’ offices worldwide. Biomerica, Inc. was founded in 1971 and is headquartered in Irvine, California.

Research

Mon, 23 Mar 2020 16:29:41 GMT

We unwound our Biomerica, Inc. (NASDAQ:BMRA) position last week. We initiated a position in the stock in July of 2019 at $3.52 per share.

Shares went on a wild ride last week, rising from $2.55 to hit a high of $23.39 after announcing that it would begin shipping samples of a 10 minute test for Covid-19 to various government agencies.

The stock then fell sharply on Friday after the company announced it would be conducting a stock offering to raise $12.5 million. BMRA still ended up 180% for the week.

It seems that every other day, we see some news about a company’s plan to sell coronavirus test kits. Thus, we thought it would be a good idea to sell our position and revisit the story once investors are ready to refocus on the BMRA’s long-term growth drivers, including the possible approval of the company’s irritable bowel syndrome (IBD) diagnostic test solution once clinical trials are complete, which are currently ongoing. We hope that data on these trials will be available by the end of the year.

If you still own the stock or are researching the company, one thing to watch closely is the possibility that the FDA will grant BMRA approval for its Covid-19 test kit. We found it interesting that BMRA’s test can also indicate if a user who has tested negative for the virus had actually contracted the virus in the past.

Also, this passage from an article in the Daily Mail stated the following:

“Mr Johnson said tonight that a new ‘game changing‘ coronavirus test which analyses antibodies in the blood could detect asymptomatic patients and those who have already shrugged off the bug. The Prime Minister said this would allow people to know whether they had gained immunity and get back to their working and social lives as soon as possible.

Public Health England previously said that only patients who meet certain criteria will be able to be tested for the bug and those who were being screened were having nasal swabs.The Prime Minister conceded that the NHS will continue to use nasal swab tests that take up to 48 hours to be analysed in a lab.”

We are curious if this is BMRA or some other company, but there seems to be some reluctance to use the test.

Research

Wed, 18 Mar 2020 04:00:00 GMT

Late last night, Biomerica Inc (NASDAQ:BMRA) ($2.34; $23.1M market cap; was marked up over 100% pre-market) announced that it will begin shipping samples of a 10 minute test for Covid-19 to various government agencies. BMRA develops, manufactures, and markets medical diagnostic products for the early detection and monitoring of chronic diseases and medical conditions.

In May 2017, we started getting interested in BMRA due to some of the positive momentum it appeared the company was gaining with respect to it's current and expected diagnostic product pipeline. After following the stock for a few years, we initiated a position in the stock on July 31, 2019, even though it has been on our Multi-bagger Model Portfolio since May 5, 2017

We issued the following premium tweet this morning:

Highlights from the release:

10-minute test for coronavirus exposure utilizing blood from a finger prick can be performed anywhere by trained professionals, e.g. airports, schools, work, doctor’s office
Biomerica has begun shipping samples of this COVID-19 test to multiple Ministries of Health and government agencies that have requested the product through the Company’s distributors in the Middle East, Europe, and other countries
Price point of this single-use, disposable product as low as $10 per patient
Biomerica has filed a provisional patent on rapid test technology to identify multiple coronavirus strains including the strain responsible for COVID-19

While this news is a positive development and could provide the company with needed capital to continue its product development and commercial launch initiatives of its current pipeline, we must be aware that so far, the test is not being marketed commercially.

Research

Tue, 07 Jan 2020 14:29:09 GMT

Biomerica Inc (NASDAQ:BMRA) ($2.97; $29.0M market cap), a company that develops, manufactures, and markets medical diagnostic products for the early detection and monitoring of chronic diseases and medical conditions, announced that Houston Methodist, (part of Texas Medical Center, the largest medical complex in the world) will start enrollment for the clinical trial of its new InFoods® diagnostic-guided therapy (DGT) to alleviate Irritable Bowel Syndrome (IBS) symptoms.

“We are thrilled to have Huston Methodist commence patient enrollment for the InFoods® IBS trial. As part of the Texas Medical Center, the world’s largest medical complex, we expect Houston Methodist to significantly accelerate the completion of this endpoint trial and play a significant role in the final FDA InFoods trial. IBS patients who desperately seek symptom relief will be the beneficiaries of this revolutionary disruptive technology. We are also very pleased to be working with leading experts in functional GI disorders that have been the primary investigators in clinical studies for many of the leading drug therapies for IBS. We plan to continue to add leading medical centers to the InFoods trials.”

Research

Wed, 16 Oct 2019 15:50:40 GMT

Biomerica Inc (NASDAQ:BMRA) ($3.02; $29.6M market cap), a company that develops, manufactures, and markets medical diagnostic products for the early detection and monitoring of chronic diseases and medical conditions, announced Q1 2020 results:

Sales of $1.19 million vs $1.27 million in the prior year period
Net loss of $0.05 vs net loss of $0.05 in the prior year

“Although revenues in Q1 2020 were slightly lower than the prior year, we expect sales of our specialty diagnostics to begin increasing in Q2, as compared to the same quarterly sales in the previous year," said Zackary Irani, CEO of Biomerica, Inc. “We also expect to be near completion of the enrollment of patients for clinical trials for our H. Pylori diagnostic product in fiscal Q2 and plan to submit to the FDA shortly thereafter. Once approved, the H. Pylori product should contribute significantly to our revenues. Further, during Q2 we plan to announce important progress in the clinical trials for our diagnostic guided therapy, InFoods® technology, which we expect to make a significant impact on some of the 45 million Americans who suffer from Irritable Bowel Syndrome (IBS). We are expecting to hit several major milestones at Biomerica over the next 12 months, and are excited to see the impact these milestones will have on shareholder value."

Research

Fri, 30 Aug 2019 15:40:10 GMT

Biomerica Inc (NASDAQ:BMRA) ($2.76; $26.6M market cap), a company that develops, manufactures, and markets medical diagnostic products for the early detection and monitoring of chronic diseases and medical conditions, announced its Q4 2019 results:

Sales of $1.2 year vs $1.1 million in the prior year
Net loss of $0.08 in both quarters

“We have seen continued increases in sales in Latin America and we are excited about the prospect for growth in this region. Sales to our new distribution partner in Mexico continue to grow, and we’re in discussion with additional new distributors in three other countries in the region. These increases partly offset decreases in sales in Europe. In order to expand our European and Latin America distribution and sales network, we have hired a new sales and marketing director with extensive distributor relationships in Europe and South America, many of whom are evaluating our products for distribution. Our focus in fiscal 2019 was 1) expand distribution and gain country regulatory approvals for our EZ Detect colorectal cancer screening product, 2) support and expand the clinical trials for our InFoods® IBS product, which we see as a blockbuster opportunity, 3) prepare our H. Pylori product, (called hp+detect), for final FDA submission and market launch, 4) develop additional InFoods® diagnostic/therapeutic products for other disease states, 5) begin transition from R&D focus to manufacture and distribution focus by starting to build out a global distribution network who will launch these new products and expand sales of our existing products, and 6) secure Intellectual Property (IP) protection for the many new products we are developing, beginning with a USA patent position for the InFoods® technology. Many of our InFoods® patents are now are in final examination. Our focus on R&D and IP protection did require a significant increase in patent related legal expenses which, combined with costs related to our clinical trials, negatively impacted earnings in fiscal 2019. However, we see these IP and clinical expenses as an incredible investment opportunity with potential for inordinate returns, as these new products achieve FDA clearance and we hopefully begin to launch them into the market in the near future. At the same time, since many of the expenses related to the national phase of our InFoods® patents have already been paid and we expect to soon conclude our hp+detect clinical trials, we expect these reductions in expenses should positively impact our financial performance,” stated Zackary Irani, CEO of Biomerica.

The story seems to be progressing on schedule with the company’s EZ Detect product currently driving revenues and the H.Pylori and InFoods IBS products continuing to proceed closer to FDA clearances.

New Premium Geoinvesting Members can catch up on the risk an opportunity associated with BMRA by referencing our research notes starting on July 11, 2019.

Research

Wed, 21 Aug 2019 14:33:32 GMT

Biomerica Inc (NASDAQ:BMRA) ($2.91; $28.1M market cap) develops, manufactures, and markets medical diagnostic products for the early detection and monitoring of chronic diseases and medical conditions. Today, the company announced that The Republic of Colombia’s Ministry of Health and Social Protection Institute National Surveillance of Drugs and Food (INVIMA), the equivalent of the US FDA, has granted clearance for Biomerica’s EZ Detect™ colorectal screening test, which detects an early warning sign of colorectal cancer, to be imported and sold in Colombia.

The Company also announced the hiring of a sales and marketing director for Europoe and South America.

“This new director joins Biomerica with 22 years of experience selling and marketing Diagnostic and Life Science products across multiple diagnostics technologies and disciplines. She possesses broad international business experience, with communication skills in German, English, Spanish, French and Portuguese, and strong scientific and technical understanding of gastrointestinal diagnostic products. She also has active relationships with key strategic entities in Europe, Eastern Europe, Latin America, Canada and U.S. that could help Biomerica add new distributors for existing products. In her previous role, this director managed relationships that accounted for approximately 50% of her former employer’s group sales.”

Research

Wed, 31 Jul 2019 15:18:12 GMT

Establishing Position In Biomerica Inc (NASDAQ:BMRA) ($3.48; $33.6M market cap)

BMRA develops, manufactures, and markets medical diagnostic products for the early detection and monitoring of chronic diseases and medical conditions.

In our July 11, 2019 note, we stated, “Although we don't currently own the stock, we are probably going to want to get some exposure to the stock in the near future.”

After yesterday’s breakout, which saw shares rise 17%, we've decided to establish a long position ahead of the company's Q2 earnings release, in case management offers bullish updates on the company’s recent China relationship with MaxHealth or FDA regulatory progress.

On July 15, 2019, we summarized a recent webcast presentation, where CEO Zack Irani discussed the Company’s product lineup, recent product distribution agreements, and regulatory and FDA approval timelines. You can see that full summary here.

Research

Mon, 15 Jul 2019 15:14:59 GMT

Biomerica Inc (NASDAQ:BMRA) ($2.86; $27.6M market cap)

Last week, we touched upon our coverage on BMRA and the related live webcast call we participated in with the CEO Zack Irani.

Biomerica manufactures diagnostic tests that are used by hospitals, clinical laboratories, physician’s offices, and consumers around the world. Our testing kits detect medical problems ranging from allergies, ulcers, and cancer to infertility and diabetes. However the current main focus of the company is developing tests that target the gastrointestinal market.

The company has been around since 1971 and sells products under the categories of clinical labs, physicians' offices, and home diagnostic tests. As you can see, their focus on GI is quite extensive as a percentage of their total offering.

Here is a look at the historical revenue and EPS:

Sales:

EPS:

Zack served as the Company’s Vice President of business development between 1986 and 1997. In 1997 he was appointed as CEO, but eventually took a brief hiatus as CEO. Upon being appointed as CEO again in 2014, he has been tasked with developing a high growth potential gastrointestinal product pipeline that is better than the competition. (We are double-checking our findings on Zack's bio)

Irani used these 2 presentations (EZ Detect Summary) (June 2019) during the live webcast. The following are some bullet points highlighting some of the key takeaways from the webcast:

Main products expected to drive future growth:
- EZ Detect colorectal screening test (Currently selling). Market size = Multi-billion
- “InFoods® IBS is designed to identify patient-specific foods that when removed from the diet, may alleviate or improve an individual’s Irratibale Bowl Syndrome symptoms.” (In clinical trials). Market size = greater than $1 billion
- HP Detect (In clinical trials) H. pylori is a type of bacteria. These germs can enter your body and live in your digestive tract. Market size = Forecast of $700+ million by 2024
A recently inked EZ Detect distribution agreement with MaxHealth to market the test in China is for a minimum of $17 million over 7 years. This equates to $2.5 million revenue to BMRA per year on average. We view this to be fairly significant, given that BMRA’s TTM revenues are $5 million. Furthermore, we estimate that this could significantly reduce the company's cash burn and also provide the company with growth opportunities, even when not considering the inFoods potential on revenue if it were to receive FDA approval.
We get the feeling that the revenue potential from the MaxHealth agreement could be much bigger than the $17 million.
HP Detect is their h. Pylori test which should have data to the FDA by the end of 2019. Meridian sells 10s of millions in this test each year at 90% gross margin. BMRA believes that they can steal a portion of this revenue at high margins once their test is approved. (Meridian Bioscience is the largest distributor in the U.S of H. pylori test)
InFoods, the blockbuster IBS product, is still in trials, and should have data out in 6 to 9 months (this timing is unclear though). This product is backed by thought leaders in the IBS community that have worked with almost every major IBS company out there.
Furthermore, the CEO was adamant to stress that the bar to get inFoods approved is fairly low given their expertise in working with the FDA and that much less superior products are on the market right now.
InFoods could have a high recurring revenue aspect to BMRA's business, since foods sensitivities change over time. This means that an individual could develop sensitivity to food or ingredients that it was not sensitive to in the past. So, this could lead to an individual seeking out routine testing.
The company is working on several strategic deals for each of its three products. If any of these deals were to happen that would mean immediate cash flow to BMRA to fund their small cash burn, as well as further validation of their products. The biggest partner potential relationship seems to be related to inFoods. It appears that the company expects a partnership relationship could arise shortly after FDA approval. Management expects that the company will be prepared to submit data to the FDA for approval within 6 to 9 months.
The CEO owns 10% of the stock, and puts his entire salary into buying the stock on the open market. He appeared very bullish about the company’s future during the call.
We asked the CEO to provide a worst-case scenario for us if inFoods was not able to receive a partner, requiring the company to market the product organically. The CEO of believes that the company has a good shot being able to capture up to 10% of the market share, organically. This appears to be based on the feedback the company has received from physicians in its network, testing labs and industry professionals involved in inFoods clinical trials.
A 10% inFoods market share could lead to revenue north of 500 million dollars and very high gross margins.
Due to the MaxHealth agreement, we believe the company is finally in a position to restart top-line growth that has been missing for some time. So, what you have now is a situation, where while at one time inFoods was the primary catalyst for the bullish case, now with some interesting other growth opportunities unfolding, we can view a bullish case as one where the base business will start growing and inFoods is a nice call option.

Obviously, there is a risk that the products the company is or will market will not live up to expectations. Regardless, we are looking at a BMRA entry point from two vantage points.

Do we buy it now or during the 6 to 9 months window when the company expects to submit inFoods data to the FDA?

The risk to wait 6 to 9 months to take a position is the significant upside potential associated with the MaxHealth relationship driving the top line, as well as the company securing similar types of relationships outside China.

The risk of moving early is that the inFoods data is delayed or that inFoods does not get approved by the FDA.

Given the positive tone of the CEO during the webcast that inFoods has a high chance of being approved by the FDA and his clear understanding of the industry supporting why inFoods should get approved by the FDA, we're going to want to get involved before the six to nine month window arrives. Furthermore, even if inFoods does not receive FDA approval, which could lead to a negative short-term impact on the stock, the long-term story does seem intact, since the company can probably still grow with what it's currently doing. However, we would still reassess the situation if inFoods and/or HP Detect do not gain FDA approval to determine how well the other businesses are doing to help the company attain revenue levels, enabling it to reach profitability.

We estimate that at normal R&D levels, with no inFoods and no HP Detect tests going on, BMRA could reach breakeven at $6 to $7 million in revenue. Otherwise, we estimate breakeven revenue to be at $12 to $15 million.

We will keep you up-to-date with any more of our research findings.

Research

Thu, 11 Jul 2019 16:01:22 GMT

Biomerica Inc (NASDAQ:BMRA) ($2.60; $25.1M market cap) develops, manufactures, and markets medical diagnostic products for the early detection and monitoring of chronic diseases and medical conditions.

Although we don't currently own the stock, we are probably going to want to get some exposure to the stock in the near future.

Yesterday, we invited you to participate in a live webcast interview with the CEO of Biomerica, Zack Irani, who gave a presentation discussing various aspects of the business. We had a great turnout, with around 50 people attending at one point. Based on this success, we will be arranging similar webcasts in the future.

We have been following the company for several years. We actually first interviewed management around 2014, but became more keenly interested in the company after interviewing the CEO at Bobby Kraft's (@BobbyKKraft) annual Planet Microcap Showcase Conference in Vegas 2017.

We like following medical diagnostic companies that are nearing growth inflection points and profitability because they can attain high valuation multiples. We are also impressed with the stickiness of products and recurring revenue potential. For example, this is why we published our bullish article on SMLR in early 2018. The stock has increased four fold in slightly over one year.

We added BMRA to our multi-bagger model portfolio in 2017 because we thought the Company was getting closer to reaching a major milestone that would significantly increase the growth profile of the company. Specifically, we believed that one of the diagnostic products in the pipeline called inFoods could potentially be a blockbuster product for the Company if it were able to receive FDA Approval.

“InFoods® IBS is designed to identify patient-specific foods that when removed from the diet, may alleviate or improve an individual’s IBS symptoms.”

In 2017, we thought the Company was close to submitting data for FDA approval. However, there were some delays in obtaining clinical trial test protocols from the FDA.

Fast forward, and now it looks like the company will be ready to submit data to the FDA in 6 to 9 months. So, we are now very excited to follow the story much closer. Furthermore, one of the issues we had with BMRA in the past was slow growth prospects of the company’s legacy business. However, a recent partnership with MaxHealth to market its EZ Detect colorectal screening test product in China, as well as some other developments, are significantly increasing the overall growth prospects of the company, even without factoring InFoods into the equation.

Over the next few days, will have another update on the company's growth plan and some of the information that was shared on the webcast interview. Overall, we were impressed with the CEO and think he has a good grasp on what has to be done. We also like his passion.

Research

Fri, 15 Jun 2018 15:17:52 GMT

Bioamerica Inc. (NASDAQ:BMRA) ($3.62, $31.4m market cap) is attempting to commercialize a new treatment to IBS called InFoods, which tells you through a blood test which foods you should avoid because they exacerbate your IBS symptoms. There is a lot of validation behind this product (you can see an article I wrote on it here), but it is currently in trials and likely won’t have meaningful results until this time next year.

They also have a product that just got approved – EZ Detect, which management believes has a lot of potential in China (I’m a little bit more skeptical, but we will see).

They have another product in development to treat H. pylori, which interestingly came about because customers of the existing product hated it so much that they came to BMRA to ask them to develop another one. Therefore, if BMRA can successfully make this new product, I think the customer base is already lined up.

On top of all of this, BMRA has a legacy business growing at 10%/year, that likely accounts for 50% of its current market value. So there’s maybe 50% downside to the stock if none of the above new products works out. If any do the way that management thinks they will, that likely accounts for the entire valuation gap…and then some. If InFoods works out, this could be a multi-bagger.

Caveat:

I’ve been following this company a long time and in my discussions with Zack (the CEO), it seems that he is getting more and more promotive of the business lately. This is often a bad thing, but is mitigated in this case by the fact that a) they don’t have to raise a lot of money, and b) Zack is still relatively new to the IR “game”.

Research

Tue, 17 Apr 2018 15:46:55 GMT

Biomerica Inc(NASDAQ:BMRA) ($3.96; $32.9M market cap) a global biomedical company announced Q3 2018 results:

Sales of $4.4 million vs $4.3 million in the prior year period
Net loss of $0.04 vs net loss of $0.04 in the prior year

Quotes from management:

“While we are disappointed in the lack of sales growth this quarter for our base diagnostic business, we believe it is mainly due to timing of orders. However, we are optimistic about the prospects of sales in coming quarters from the recently received CFDA approval in China and COFEPRIS (Mexico’s equivalent of the FDA) approval in Mexico for our colorectal disease screening product. At the same time we expected to announce patient enrollment in clinical trials being conducted by University of Michigan and Beth Israel Deaconess Medical Center Inc., a Harvard Medical School Teaching Hospital for our InFoods® IBS product. We also look forward to announcing further information about our progress for the clinical trial of our H. Pylori product which is underway,” stated Zackary Irani, Biomerica CEO.

BMRA was added to our Multi-Bagger Mock Portfolio on May 5, 2017 at $2.51. Our interest in the stock surrounded the company’s development stage irritable bowel syndrome (“IBS”) product, InFoods. InFoods has been showing some positive signs for blood test that tells patients which foods most affect their IBS.

Research

Thu, 08 Mar 2018 16:55:40 GMT

Biomerica Inc (NASDAQ:BMRA) ($4.36; $37.2M market cap) was added to our Multi-Bagger Mock Portfolio on May 5, 2017 at $2.51. Our interest in the stock surrounded the company’s development stage irritable bowel syndrome (“IBS”) product, InFoods. InFoods has been showing some positive signs for blood test that tells patients which foods most affect their IBS.

Today, BMRA announced positive news for another product, its EZ Detect colorectal screening test. The company announced that:

Mexico’s COFEPRIS (Comisión Federal para la Protección contra Riesgos Sanitarios - Mexico’s equivalent of the U.S. Food & Drug Administration) approval of the EZ Detect™ colorectal screening test designed to help identify the early warning signs of colorectal cancer.

The EZ Detect colorectal screening test is the simplest at home test to detect fecal occult (hidden) blood, an early warning sign of colorectal cancer. The test does not require handling of stool or dietary restrictions. The EZ Detect pad is tossed 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.

We are unclear of the market/revenue opportunity for this product but adds to the positive developments for the Company as it continues to progress with its main IBS product.

The company’s January 2018 corporate presentation discussing its products, markets and tests, among other things, can be found here.

Comments & Business Outlook

Wed, 17 Jan 2018 16:11:00 GMT

Biomerica Inc (NASDAQ:BMRA) ($4.51; $38.4M market cap) was added to our Multi-Bagger Mock Portfolio on May 5, 2017 at $2.51 due to the possible blockbuster development stage irritable bowel syndrome (“IBS”) product which has been showing some positive signs for blood test that tells patients which foods most affect their IBS. On January 10, 2018 shares rocketed on news that the China Food and Drug Administration approved BMRA’s colorectal screening test to help identify early signs of colorectal cancer. Shares have since retraced back to levels prior to the CFDA news.

Yesterday after the close, BMRA announced Q2 2018 results:

Sales of $1.6 million vs $1.4 million in the prior year
Net loss of $0.03 vs a loss of $0.02 in the prior year

Comments from management:

While we are pleased with our continued growth in sales, the combination of fully establishing our maquiladora production facility and reduction of finished goods/WIP inventory resulted in a higher cost of goods sold,” said Zackary Irani, Biomerica CEO. “We are excited about moving our InFoods® IBS product forward through the regulatory process and recently announced signing definitive agreements with two of America’s leading research institutes (Beth Israel Deaconess Medical Center Inc., a Harvard Medical School Teaching Hospital, and the University of Michigan) to perform trials for the product. It is estimated that up to 45 million Americans suffer from IBS, and we believe our approach is differentiated by focusing on a possible root cause of IBS compared to simply treating symptoms.

We continue to believe the main focus on BMRA remains on the successful development and approval of its IBS product.

Research

Thu, 11 Jan 2018 17:51:43 GMT

Biomerica Inc (NASDAQ:BMRA) ($5.30; $45.2M market cap) was added to our Multi-Bagger Mock Portfolio on May 5, 2017 at $2.51 due to the possible blockbuster development stage irritable bowel syndrome (“IBS”) product which has been showing some positive signs for blood test that tells patients which foods most affect their IBS. Yesterday shares rocketed on news that the China Food and Drug Administration approved BMRA’s colorectal screening test to help identify early signs of colorectal cancer. Shares reached a new 52 week high of $9.32 before retracing and closing at $5.30. While this is certainly a positive development, the real focus remains on the successful development and approval of its IBS product.

Research

Mon, 04 Dec 2017 16:52:07 GMT

Biomerica Inc (NASDAQ:BMRA) ($3.31; $28.2M market cap) was added to our Multi-Bagger Mock Portfolio on May 5, 2017 due to the possible blockbuster development stage irritable bowel syndrome (“IBS”) product which has been showing some positive signs for blood test that tells patients which foods most affect their IBS has filed an at the market offering of up $7 million. The medical supply Company states that if they do tap this offering, the proceeds would be used for for:

“general corporate purposes, including, without limitation, sales and marketing activities, clinical studies and product development, making acquisitions of assets, businesses, companies or securities, capital expenditures, and for working capital needs.”

Comments & Business Outlook

Wed, 30 Aug 2017 14:20:29 GMT

BMRA ($2.70) reported Q4 2017 results:

Sales of $1.4 million vs $1.3 million in the prior year
Net loss of $346,000 vs $506,000 in the prior year

Quotes from management:

The Company is very enthusiastic about the clinical and commercialization opportunities for our blood based InFoods® IBS technology, a diagnostic guided therapy that should allow for the identification of specific foods that are contributing to a person’s irritable bowel syndrome (IBS) symptoms. InFoods® IBS technology could revolutionize the way IBS is treated,” said Zackary Irani, Biomerica's Chief Executive Officer. “We have also been making progress in our goal to start the InFoods® clinical trial and look forward to announcing more details in the future.”

“We continue to seek out distribution partners globally as we believe that distribution agreements and licensing are the most effective means for us to broaden our international sales. This is a strategy we employed with our recently announced Mexico distribution agreement for the supply of one of Biomerica’s point of care products to a multinational pharmaceutical company with over $1.4 billion in sales. These types of agreements are significant validations of our products and we hope to announce more licensing and distribution agreements with these or other partners in the future”

Research

Wed, 16 Aug 2017 15:26:44 GMT

BMRA ($2.75) announced a product distribution agreement with a multi-national pharmaceutical company for distribution in Mexico.

“This point of care product has already received approval from COFEPRIS (the Comisión Federal para la Protección contra Riesgos Sanitarios), which is Mexico’s equivalent of the U.S. Food & Drug Administration (FDA), thereby clearing it for immediate sale in Mexico.

I am very pleased to announce this sales contract with a leading global pharmaceutical corporation,” said Mr. Zackary Irani, CEO of Biomerica. “This is a tremendous validation of our product by a large healthcare company and we hope to announce more distribution agreements with them or other partners down the road. Both companies are excited about the sales potential for this point of care product in the Mexican market.”

BMRA was added to our Multi-Bagger Mock Portfolio on May 5, 2017 due to the possible blockbuster development stage irritable bowel syndrome (“IBS”) product which has been showing some positive signs for blood test that tells patients which foods most affect their IBS.

Research

Mon, 01 May 2017 04:00:00 GMT

We are keeping our eye on this medical supply company due to its InFoods irritable bowel syndrome (“IBS”) product which has been showing some positive signs for blood test that tells patients which foods most affect their IBS.