Pmony · @pmony5
15th Apr 2020 from TwitLonger
$BMRA DD update
Biomerica Diagnostic Co. Since 1971, Biomerica symbol ( $BMRA ) has developed, manufactured, and distributed medical diagnostic products for the early detection and monitoring of chronic diseases and certain medical conditions.The Company's test kits and devices are sold Globally in three markets:
Clinical laboratories
Physician's offices
Over-the-counter (pharmacies)
UPDATE shares out 11.3 due to money raise in $8's BMRA now has $7.8 Million CASH over 6 X's avg cash the last 5 years. Money will be used to ramp up manufacturing of Covid tests.Also notice management didn't sell all they could, remember Insiders own over 25% & being careful.
Share structure consists of 9.9 Million shares outstanding & a Float of 7.3 Million shares as Insiders owned 25% according to latest Def 14/A filing. The short total is nil at 131K shares. These share numbers will increase as BMRA is raising money in fact probably already has via $12 million dollar at the market financing from March 20th. This money will be utilized to mass produce millions of Covid-19 serology tests which has been called a game changer in the way we test for Covid-19 & getting people back to work.
Serology testing is also called antibody/immunity tests & are considered critical to getting our country back up & running. We have 160 million people in the workforce or at least had before the virus so we will need 10's of million's of tests to be completed in the next few months. Biomerica wont be the only test Co. in fact we will need dozens to complete the needed testing imo. Barrons article naming Biomerica & importance of serology testing.
UPDATE Congress looking to spend $30 Billion Dollars on testing & testing not stopping soon will come into play again in the fall when virus starts up again. NY Cuomo wants all 19 Million NYers tested massive testing coming for entire country NO doubt about it.
https://www.barrons.com/articles/citigroup-analysts-say-blood-testing-could-mean-a-quicker-return-to-work-51585755839?siteid=yhoof2&yptr=yahoo
BMRA has not 1 but 2 serology tests their own rapid 10 minute test utilizing blood from a finger prick can be performed anywhere by trained professionals, e.g. airports, schools, work, doctor’s office & newly licensed high volume ELISA lab test from Mount Sinai Medical. Both are under review & awaiting FDA approval. Here are the 2 press releases regarding Covid-19 serology testing from Biomerica
UPDATE BMRA selling 10 minute rapid test kits in Europe in fact sold out in Netherlands & being tested in Italy & Germany. Another interesting fact China rapid tests are banned in Europe. Link to distributor
https://www.byinnocare.com/product/
UPDATE in original April 2nd PR BMRA said could produce over 1 million tests a month now BMRA can produce over 3.5 million tests per month. Bare bones at $5 a test = $17.5 million dollars a month. Doesn't include any revenue at all from Rapid tests.
https://finance.yahoo.com/news/biomerica-begins-shipping-samples-10-001634145.html
https://finance.yahoo.com/news/biomerica-signs-two-definitive-agreements-113810314.html
This video is the latest update from Biomerica Thursday 4-9, LA Fox news interview with BMRA CEO
https://www.foxla.com/video/672111
CEO Irani clearly states tests being sold Internationally, is working with Los Angeles county & Orange County for local testing & most important expects FDA approval very soon.
Speaking of FDA here is a link to Biomerica registration & device listing with FDA
https://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfrl/rl.cfm?start_search=1&showList=1&establishmentName=&regNum=76866&StateName=&CountryName=&OwnerOperatorNumber=&OwnerOperatorName=&ProductCode=&DeviceName=&ProprietaryName=&establishmentType=&PAGENUM=10&SortColumn=EstablishmentName20%25ASC&RegistrationNumber=2025099
Point is take a look at this REAL Co. with many tests approved & multiple 2020 catalysts coming. Check out this January 2020 investor presentation before Covid-19 entered the picture. BMRA has a huge Billion dollar IBS market they are looking to disrupt with their infoods IBS testing. Also has EZ Detect –Cologuard for International sales. China: Signed $17 million deal over 7 years and an upfront pre-payment of $1 million. With BMRA looking at potentially 10's of Millions in Covid testing dollars besides current & new business their 70 Million dollar market cap seems awfully cheap imo...
http://biomerica.com/news/investor.pdf
It is not a question of IF BMRA gets FDA approval only question is WHEN & if you are watching Covid briefings and any news channel at all serology testing comes up each & every day. The FDA is under incredible pressure to get these tests approved & again imo this upcoming week we will begin to see approvals. If BMRA gets early approval it will be on every TV network morning noon & night getting crazy coverage most likely causing a stampede into the common stock. We saw crazy moves due to Covid-19 $APT $4 to $40's $AHPI $2 to high $40's $VIR $12's to $70's $CODX $3 to $20's $WORX $2 to $14 and many more. IMO BMRA is very cheap at $7.50 a share again market cap at 70 million dollars ? BMRA hit $23's on March 19th from $3 on March 17th & imo will easily revisit those highs upon approval of both tests and the market realization of the huge increase in revenues & net income.for 2020 plus it doesn't hurt us that BMRA is a true diagnostic Co.for almost 50 Years.How many PR's from B.S. Co.s changing their biz plan to take advantage of Covid with little chance to do any sales at all.? I hope the DD & links help you make an informed decision on BMRA imo the risk/reward is very heavily skewed in longs favor but you never know so please do your own DD consult with a professional before investing.