IRVINE, Calif. - Biomerica, Inc. (NASDAQ: NASDAQ:BMRA), a global medical product provider, announced its expansion into new offices, including in Texas, and the Northeast and Midwest regions of the United States. The company has experienced a significant quarterly increase in the number of physicians prescribing its inFoods IBS product, with more than double the growth each quarter over the past year.
The company is also in discussions to launch inFoods IBS with large non-GI physician groups, potentially opening a new market for the product. Moreover, Biomerica has received notices of allowance for five new patents in Europe, Canada, and Japan, bringing its total to 25 issued or allowed patents worldwide for its inFoods technology.
Biomerica's inFoods IBS product is designed to help manage irritable bowel syndrome (IBS) symptoms by identifying specific food triggers through a simple blood test. The product has been studied in a prospective double-blinded, placebo-controlled trial at several medical centers, including the Mayo Clinic and Harvard Medical School's teaching hospital.
The study showed a significant improvement in Abdominal Pain Intensity for patients on the treatment diet compared to those on the placebo diet.
The American College of Gastroenterology reports that IBS affects 1 in 20 Americans, with up to $10 billion spent annually on direct medical costs. Biomerica's inFoods IBS product aims to provide a non-pharmaceutical option for managing IBS symptoms, which could potentially reduce healthcare costs and improve the quality of life for patients.
This expansion and the development of its intellectual property portfolio reflect Biomerica's commitment to advancing gastrointestinal care and addressing the needs of the approximately 750 million individuals suffering from IBS globally.
The information in this article is based on a press release statement from Biomerica, Inc.
InvestingPro Insights
As Biomerica, Inc. (NASDAQ: BMRA) continues to make strides in the medical product industry with its inFoods IBS product, the financial metrics and market sentiment surrounding the company provide additional context for investors. The company's market cap stands at a modest $13.93 million, reflecting its position in the sector.
Despite a challenging revenue growth rate of -65.79% over the last twelve months as of Q2 2024, there are signs of a potential turnaround. Analysts anticipate sales growth in the current year, which could signal a shift in the company's financial trajectory.
InvestingPro Tips for BMRA indicate that the company holds more cash than debt on its balance sheet, providing a level of financial stability. This factor, combined with the expectation that net income is projected to grow this year, offers a potentially promising outlook for investors considering Biomerica's prospects. Moreover, the company's liquid assets exceed its short-term obligations, which suggests a solid financial footing for immediate operational needs.
For those interested in a deeper dive into Biomerica's financial health and market performance, InvestingPro provides a comprehensive array of tips, with a total of 11 additional insights available for subscribers. Readers can learn more by visiting InvestingPro and can benefit from an exclusive offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
While the stock has experienced a price total return of -23.5% over the last month, it is also noted to often move in the opposite direction of the market, which could be a consideration for investors looking for a non-correlated asset. It's important to monitor these trends as Biomerica continues to expand its operations and solidify its presence in the gastrointestinal care market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.