Biomerica (NASDAQ:BMRA) stock is surging higher on Friday thanks to a new deal with Walmart (NYSE:WMT) concerning its EZ Detect product.
A news release from Biomerica reveals that its EZ Detect colon disease screening test is going to be available for purchase at Walmart. This is an at-home test that allows users to detect hidden blood in their stool. This can be an early sign of colorectal diseases such as colon and rectal cancers.
That’s worth noting as colorectal cancer is the second most common cause of cancer death in the U.S. An estimated 147,950 were diagnosed with it in 2020 with an estimated 53,200 would die from it.
The first shipment of EZ Detect has been sent out to Walmart. The two companies are still finalizing the last bits of the deal so they can show up on store shelves. To go along with that, Biomerica is working to release the product in Asia, Europe, and the Middle East.
Zack Irani, CEO of Biomerica, had this to say in the press release boosting BMRA stock today.
“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.”
BMRA stock was up 26.7% as of Friday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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