Biomerica (BMRA) Stock Gains In Multiples On COVID-19 Test News

Biomerica BMRA Stock News

Biomerica, Inc. (NASDAQ: BMRA) is making a dramatic run for the top in the market this morning. The stock is gaining in multiples after announcing that it has begun shipping samples of its coronavirus test. Here’s what’s going on:

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BMRA Stock Is Flying On Coronavirus Test Shipments

In the announcement, Biomerica said that it has begun shipping its initial samples of a COVID-19 rapid test outside of the United States. The test is a finger prick blood test that provides results within 10 minutes at point of care.

Moreover, the test is highly portable. This means that it can be given at airports, schools, work places, pharmacies, doctors’ offices and more.

Importantly, BMRA said that it is well positioned to begin fulfilling large international orders as long as shipping channels remain active.

Moreover, the company is working to bring these rapid tests to the United States and European Union. In fact, it has already begun to process applications with the FDA and EUA with the goal of commercializing the rapid test in these countries.

Among the slew of positive announcements, BMRA said that it has filed a provisional patent application with broad claims around technology that can be used to identify several corona viruses. These included SARS, SARS-CoV2, MERS, and future mutations that may develop.

The test also comes with an incredibly strong pirce point. In fact, the company set the price of the test at just $10 each.

This News Is Huge

COVID-19, also known as the Wuhan coronavirus, is a pandemic. It has infected nearly a quarter million people in a matter of months and threatens to spread far further. When cities are quarantined around the globe, schools are shutting down, and events are closed until further notice, we have a very real issue.

In times of a pandemic, rapid diagnostic testing is key. These tests give us the ability to determine who has been infected, even before symptoms arise. As such, rapid tests may help to dampen the spread of the virus.

Biomerica is one of only two companies that has a rapid diagnostic test for COVID-19. The other being Aytu BioScience (NASDAQ: AYTU). However, AYTU only has rights to the test in the United States.

Considering the incredibly low price point, fast, reliable results and tests already being shipped outside of the United States with application processes started in the US and EU, BMRA is onto something very big here!

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