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Thursday, Sep 29, 2022

Antibody Test Maker Biomerica Reports

Biomerica Inc. (Nasdaq: BMRA) reported third quarter net sales of $3.9 million, down slightly from $4 million a year ago. Its net loss widened to $861,000 from $679.000 year-over-year.

The Irvine-based diagnostics company said results don’t include recent positive novel coronavirus impacts on its operations. Biomerica said on March 17 and April 2 that a blood test it offers could be used to find antibodies for COVID-19 in a person’s blood.

Such a result would indicate the person had survived a coronavirus infection and possibly developed some immunity to its recurrence.

The company said its California manufacturing operations can process 3.5 million tests a month.

Biomerica shares traded counter to the market, up about 5.5% to an $87 million market cap.

The Business Journal profiled Biomerica and its new antibody testing efforts in its April 13 print edition.

Go here for more updates on how OC companies are responding to coronavirus.

For ongoing, in-depth coverage of coronavirus effects on OC businesses, see the Monday print edition of the Business Journal.


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