Biomerica (NASDAQ:BMRA) news for Tuesday concerning its rapid test for the novel coronavirus has BMRA stock on the rise.
Here’s everything potential investors in BMRA stock need to know.
- Biomerica says that its COVID-19 Rapid Antigen Test has received CE MARK, which allows it to be sold in Europe.
- The company notes that this will have it selling and marketing its coronavirus test in the region.
- BMRA’s test for the novel coronavirus has many advantages over those offered by its competitors.
- First and foremost is the speed of the test, which only takes 15 minutes for results to come in.
- Another benefit of the test is that it doesn’t require the use of a lab.
- It can be administered by health officials on-site, which can reduce loads on labs while allowing for faster quarantining of sick patients.
- The test works by collecting a nasal swab from patients.
- This test has a 94.7% positive agreement and 99.7% negative agreement compared to lab-based molecular PCR tests.
- This news has renewed interest in BMRA stock with some 11 million shares changing hands as of this writing.
- That’s a hefty increase over the stock’s daily average trading volume of roughly 147,000 shares.
Zack Irani, CEO at Biomerica, said this about the news pushing BMRA stock higher today.
“We are pleased to launch the Biomerica COVID-19 Rapid Antigen Test to help combat this ongoing global pandemic and which may help people become more confident about their own health.”
BMRA stock was up 25.7% as of Tuesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.