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Biomerica, Inc. (BMRA)

NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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3.0600+0.2400 (+8.51%)
At close: 04:00PM EDT
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  • d
    dave
    Well that was a nice five weeks of bummer America losing two dollars a share once again the perfect short. With the way the market is I?m surprised this thing isn#$%$50. Give it time though it will get there keeps shorting hand over fist everyone get this thing to $.50 and then BK.
  • M
    Manuel
    - Attaining CE Mark is a major step toward commercialization – - World Health Organization (WHO) lists H. pylori among the 16 antibiotic-resistant bacteria that pose the greatest threat to human health and designated H. pylori as a Class 1 carcinogen
    - Attaining CE Mark is a major step toward commercialization – - World Health Organization (WHO) lists H. pylori among the 16 antibiotic-resistant bacteria that pose the greatest threat to human health and designated H. pylori as a Class 1 carcinogen
    finance.yahoo.com
  • T
    Thelonius
    BMRA has been moving up steadily, even with market headwinds and, more specifically, headwinds in the microcap tech market.
    It's always risky to think somebody w/non-public info is buying.
    But, it's either that; short covering; or, an institution that believes in the product line
  • S
    Shlomo
    bought some today at around 4 bucks ,IBS results expected during this month ,positive data could push this low floater to 10 dollars . last year this stock went from $5 to $23+ within days so it could happen again .
    "Mr. Irani continued, “Finally, I am pleased to announce that data analysis is underway for our InFoods IBS clinical trial. We believe we’re on track to receive and announce top line results in January, 2022.”"
  • F
    Filippo
    With two subsidiaries in Mexico and Europe, Biomerica, Inc. is an entity incorporated in Delaware. The company manufactures and develops products, which help detect chronic diseases.

    In my opinion, the information released on June 16, 2020 about the development of a new test for COVID-19 made the share price creep up.

    I would actually expect additional share price increases because the company could receive the CE mark to sell the test outside the United States.

    The upside potential is massive on this name. With a share count of 11.31 million and 2.5% of the COVID-19 market, I would say that the share price could go to $25-$30.

    I am not really worried about the company’s total liabilities because the asset/liability ratio is equal to 2.3x.

    https://seekingalpha.com/article/4357567-biomericas-covidminus-19-test-ignites-market?mail_subject=bmra-biomerica-s-covid-19-test-ignite-the-market&utm_campaign=rta-stock-article&utm_content=link-2&utm_medium=email&utm_source=seeking_alpha
    With two subsidiaries in Mexico and Europe, Biomerica, Inc. is an entity incorporated in Delaware.
    With two subsidiaries in Mexico and Europe, Biomerica, Inc. is an entity incorporated in Delaware.
    seekingalpha.com
  • T
    Thelonius
    For a tiny company, these guys are really outperforming.
    This new comfortable nasal swab that can be used in, for example, offices and schools. No lab equipment. If it's for real, is easily worth today's market cap.
    Ditto upcoming h pylori test.
    IBS/InFoods would be in a totally different league.
  • D
    Dean
    Has anyone paid attention to this part of their 10-Q? Focus on March 20.

    On March 17, 2020, the Company announced it had commenced shipping initial samples of its COVID-19 IgG/IgM Rapid Test (qualitative membrane-based immunoassay for the detection of IgG and IgM antibodies to SARS-CoV-2 in whole blood or serum) to countries outside the US for evaluation. The test is a finger prick blood test that the Company expects will show results in approximately 10 minutes and can be performed by trained professionals at any location, including airports, schools, work, pharmacies and doctors’ offices. The evaluation test kits have been requested by Ministries of Health in multiple countries through our distribution partners who are working with their government agencies to assess the tests and forecast demand. In addition, the Company has begun the application process with the FDA under the COVID-19 Emergency Use Authorization aimed at the possible clearance and eventual use of the test in the US.

    On March 20, 2020, the Company filed a prospectus supplement to the base prospectus dated July 20, 2017 for purposes of raising up to $12,500,000 from time to time pursuant to the terms of the At Market Issuance Agreement. The Company has no obligation to sell any of the Placement Shares under the At Market Issuance Sales Agreement, and may at any time suspend offers under the At Market Issuance Sales Agreement or terminate the At Market Issuance Sales Agreement. The Company intends to use the net proceeds from this offering 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.

    Subsequent to February 29, 2020 and through April 14, 2020, the Company sold 716,335 shares of common stock through the At Market Issuance Sales Agreement. Net proceeds to the Company were approximately $5,391,000.

    ---------

    SO, I HATE TO SAY I WAS WRONG, BUT I'M A BIG ENOUGH MAN TO ADMIT IT. "Subsequent to Feb. 29" and "through April 14" includes from 3/17 to 3/20, the big pop. This to me does in fact look like a pump and dump. And play close attention to the description on the FDA site of the "device" registration. The "Device" was given a "proprietary name" that refers to Covid 19. So, what it seems to me that we have here is a company that shipped just the literal plastic box. Nothing in the box to test for Covid 19. You could put the
    label "generic serology test kit" or "SARS test kit" or whatever you want to call it as the "propreitary name."
    And why would you license from Mt. Sinai AFTER you supposedly shipped it already back in March?

    I am not happy.
  • D
    Degi
    Biomerica’s Chairman and Chief Executive Officer Zack Irani stated, “We are very encouraged by the heightened demand we’re seeing for our products; particularly for our COVID-related testing products. As the virus continues to present new variants, we anticipate demand for these tests as well as our at-home tests for other diseases to remain strong. We are also seeing increased interest and demand across our other product lines ».

    I’m all in at this point!
  • M
    MS
    After the initial shock, I checked the internet and discovered that Biomerica filled with SEC today Form S-3 (7/20) “shelf” registration for 571,429 shares of BMRA common stock for total aggregate offering of $90 million ($10.83 per share). They used a term "up to", so Biomerica might not offer all of its 571,429 new shares. Good news-- Biomerica needs more capital for its expanding business. Bad news-- we are diluting shares, we have larger float now.
    Overall-- in my opinion, market overreacted today. TSLA did the same thing and price went up (I guess TSLA is not BMRA). But, I am not selling my shares. I am waiting for the FDA EUA news. Biomerica fundamentals remain the same. I am waiting for a pop tomorrow- we should recover some ground.
    Tomorrow will be an interesting day.
  • J
    Jerry
    From estimated revenue, it seems the analysts did not expect the antibody will be approved.
  • B
    Bala2020
    I think guys, there is preference towards big companies in approving these tests. Its understandable that they can scale up production a lot as well.
  • M
    Mindseye
    Alright Insiders help us understand. On today’s COVID 19 address to the nation Dr Birx stated that the accuracy of the serology tests conducted in Europe and other nations were not very accurate. It sounds like they are working with many labs to improve the accuracy of the tests but they are not effective enough yet to rely on. And, minutes ago, UCSF was feature on local Bay Area news stating they developed a test based on Crispr technology that can be replicated/processed through labs and could potentially be conducted at home. I’m still holding but it’s probably not very smart of me.
    What say you?
  • S
    Steve
    If this news is accurate, why didn’t the share price jump on Friday?
  • T
    TVA
    Am still long 20,000 shares of BMRA. My average is 8.66. Should have sold but have been waiting for the FDA approval. Any longs left?
  • S
    Sharon
    Notice on Mt Sinai’s page. Now, how solid is the BMRA/Mt. Sinai’s contractual connection? Haven’t researched that yet.

    Also, why the April insider sell off?

    How do I feel about BMRA? Tired of it, but not willing yet to give up on it.

    https://health.mountsinai.org/blog/mount-sinais-antibody-test-for-covid-19-receives-emergency-use-authorization-from-fda/
  • J
    JMK
    Discounting the possible reddit attention this seems to be garnerning lately, looking only at the price target of BMRA this seems very attractive. Any fundamental reasons why we should not expect an increase in SP? The company seems to have a ton of room to grow with it's miniscule market cap.
  • C
    Chuckles
    Time to short!!!!

    "Biomerica is positioned to begin filling large international orders of this disposable one-use tests within weeks, assuming international product shipping channels remain open and active."
  • J
    Jerry
    Not exactly sure about EUA of the high volume version at FDA. The news did not mention anything about the status of EUA. From the Section "Patents and high-volume laboratory version test", it sounds like it may not meet the newly released EUA guidance. Hopefully I misunderstood the release.
  • S
    Sharon
    Sold half of holdings. Irritation factor got to me.

    Couple of points of interest:
    -2 weeks ago put out job hiring notice for quality control. ?
    -Jobs boards seem to indicate a definite small company feel, lack of confidence in management.
  • m
    meichen
    Antibody test will prove that seroconversion rate is high and social distance did little to prevent spread.
    For this reason alone antibody test is not promoted by the people in charge.