Biomerica, Inc. (NASDAQ: BMRA) is engaged as a global biomedical technology company that is focused on the research, development, patent, manufacture and marketing of advanced diagnostic and therapeutic point-of-care products. Shares of the biomedical company surged 38% during trading on Friday, October 1, 2021. Over the past three months, Biomerica has seen average daily volume of 119,570 shares. However, volume of 94.88 million shares or dollar volume of $589.2 million, exchanged hands during Friday’s trading.
Shares of Biomerica rallied after the company announced it has entered into a General Merchandise Supplier Agreement with Walmart (NYSE: WMT) to sell its EZ Detect colorectal disease screening test. Biomerica has already begun shipments of the diagnostic product to Walmart for retail sale.
Management says the EZ Detect product will be available to purchase through Walmart.com this week. As for in-store product placement, Biomerica says it is in the final stages of working out an agreement to have EZ Detect on store shelves.
The biomedical is also working on product distribution on an international scale. Biomerica says it is negotiating with several large distribution partners in Asia, Europe and the Middle East.
Described as the “simplest at-home test” for colon screening, the EZ Detect works to detect blood in a person’s stool. This is widely known as an early warning sign for colon diseases, including cancers.
The test does not require individuals to handle stool. Instead, the test subject places the EZ Detect test pad into the toilet after a bowel movement. If after two minutes the pad’s color changes to a blue/green color, the test would indicate the presence of blood. Once finished, the pad is flushed down the toilet.
“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,” commented Zack Irani, CEO of Biomerica.
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