Biomerica Stock Jumps After Walmart to Start Selling EZ Detect™ Screening Test
Oct 1, 2021 By MarketDepth
Biomerica, Inc. (NASDAQ: BMRA) jumped about 30% after the biomedical technology company nannounced that it has entered into a General Merchandise Supplier Agreement with Walmart for the sale of the Company’s EZ Detect™ colorectal disease screening test within the Walmart retail system.
Colon Disease Tests
According to the Company it is in the final phase of working with Walmart to stock and sell the EZ Detect product on the shelf in their stores. In addition, the Company is in negotiations with several large partners for distribution of the EZ Detect™ product in Asia, Europe and the Middle East. The EZ Detect™ colon disease screening test is the simplest at-home test to detect occult (hidden) blood in a person’s stool, which can be an early warning sign of colorectal diseases, including colon and rectal cancers.
“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.”Zack Irani, CEO of Biomerica
Biomerica, Inc. is a biomedical technology company, develops, patents, manufactures, and markets diagnostic and therapeutic products for the detection and/or treatment of medical conditions and diseases worldwide.