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Why Biomerica's Stock Is Trading Higher Today

Why Biomerica's Stock Is Trading Higher Today

Biomerica, Inc. (NASDAQ: BMRA) shares are trading higher after the company announced it has signed two definitive agreements with Mount Sinai Medical School in NY to scale-up a laboratory version serological test for coronavirus that enables high-volume screenings in labs.

'While there are unknowns about the transfer and scale-up process, if successful the Company believes it could have commercial sales within weeks. Biomerica will file for expedited clearance with the FDA under the new EUA process for this new test format," according to the company.

Biomerica is engaged in the development, manufacturing, and marketing medical diagnostic products designed for the early detection and monitoring of chronic diseases and medical conditions.

Biomerica shares were trading up 14.5% at $8.02 on Thursday. The stock has a 52-week high of $23.39 and a 52-week low of $2.05.

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