BMRA Stock Surging as Coronavirus Test Samples Begin Shipping
BMRA stock is soaring while the rest of the market continues to plummet. Biomerica, Inc. (Nasdaq: BMRA) announced that it has begun shipping samples of its coronavirus test. This led to rapid gains in the market with no signs of slowing down.
Biomerica is well ahead of its competition. In fact, its testing kit is portable and simple to use, and it provides fast results.
What Sets BMRA Stock Apart During the Outbreak?
Biomerica is providing rapid testing for COVID-19 at a time when thousands of people are searching for answers. This is the key to its rise in the market.
Not only is it well-positioned to begin fulfilling large international orders, but its testing kit is easily moved and cost-effective. The test can be administered at various locations outside of the hospital setting. This could make a huge difference if mass-testing becomes necessary. Biomerica’s kit can be put to use in schools, airports, pharmacies and more.
What about the results? According to the announcement, the one-use test is a finger prick blood test that produces results within 10 minutes. Better yet, it’s an easily disposable product that will cost as low as $10 per patient.
BMRA stock will reap the benefits of the latest news. But that isn’t the only reason you should consider this stock.
Biomerica Stock Figures and Outlook
It’s obvious that Biomerica is ahead of the competition when it comes to coronavirus testing on a massive scale. It has the resources to make it happen quickly and at low costs worldwide.
Moreover, it has already begun the application process for clearance with the FDA. Under the COVID-19 Emergency Use Authorization (EUA), the FDA can make diagnostic and therapeutic medical devices available to diagnose and respond to public health emergencies.
Once Biomerica receives its clearance, it will have the ability to sell and use the test in the U.S. It seems to be only a matter of time with samples currently shipping.
However, where is BMRA stock currently? On March 2, the stock was selling at $3.02 a share. Just over two weeks later, it’s soaring at $19.68. That’s a huge jump considering it closed at $10.30 the day before.
These numbers are attracting investors across the country. Yet Biomerica stock has no plans of slowing down. You may want to keep a close eye on this one during the COVID-19 outbreak.
BMRA Stock May Be Biotech’s Biggest Winner
The biotech market is a surefire winner during this pandemic. However, Biomerica may take the crown once it’s all said and done.
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The race for mass coronavirus testing is off and running. Biomerica looks to be taking an early lead. Continue to monitor BMRA stock as COVID-19 advancements ramp up.
About Corey Mann
Corey Mann is the Content Manager of Investment U. He has more than 10 years of experience as a journalist and content creator. Since 2012, Corey’s work has been featured in major publications such as The Virginian-Pilot, The Washington Post, CNN, MSNBC and more. When Corey isn’t focusing on Investment U, he enjoys traveling with his wife, going to Yankees games and spending time with his family.