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IRVINE, Calif. – Biomerica, Inc. (NASDAQ: BMRA), a biomedical technology firm specializing in advanced diagnostic and therapeutic products with a current market capitalization of $8.1 million and annual revenue of $5.68 million, announced the appointment of Eric B. Chin to its Board of Directors on Monday. Chin, who brings over two decades of financial expertise in the healthcare sector, will also chair the Audit Committee and contribute to the Nominating and Corporate Governance Committee as well as the Compensation Committee.
Chin’s current role as CFO at Akido Labs, a health tech company emphasizing data-driven care, saw him play a pivotal role in securing $60 million in recent financing. His extensive background includes executive positions at Astrana Health, Public Storage, and Alexandria Real Estate Equities, and his early career at Ernst & Young LLP as a Certified Public Accountant.
The new appointee replaces Cathy Coste, who resigned from the Board on the same day, with no disagreements cited regarding company operations, policies, or practices. This change comes as Biomerica continues to expand its commercialization efforts. According to InvestingPro data, the company maintains a strong liquidity position, holding more cash than debt on its balance sheet, though analysts note rapid cash utilization in recent quarters. The stock has shown significant momentum, gaining nearly 40% over the past six months.
Biomerica is known for its point-of-care diagnostic and therapeutic products used in various medical settings, including home and clinical environments. The company’s focus areas are primarily gastrointestinal and inflammatory diseases, where it has several products under development.
One of the company’s notable products is the inFoods IBS test, which allows for a personalized approach to managing Irritable Bowel Syndrome (IBS) by identifying specific food triggers through a simple finger-stick blood sample. InvestingPro analysis suggests the stock is currently undervalued, with additional insights and detailed financial metrics available to subscribers. Get access to 6 more exclusive ProTips and comprehensive financial analysis at InvestingPro. Clinical studies conducted at esteemed institutions, including Mayo Clinic and Harvard Medical School’s teaching hospital, have shown the test’s efficacy in reducing IBS symptoms such as pain and bloating.
This appointment is expected to bolster Biomerica’s financial oversight and corporate governance as it scales up its operations. The information regarding Eric B. Chin’s appointment and Biomerica’s business activities is based on a press release statement.
In other recent news, Biomerica, Inc. has reported significant advancements in various medical diagnostics. The company announced that its inFoods IBS test has shown promising results in managing symptoms of Irritable Bowel Syndrome (IBS), with 59.6% of patients experiencing a reduction in abdominal pain. This clinical trial, involving 238 IBS patients, was featured in the June 2025 issue of Gastroenterology. Additionally, Biomerica received approval from the United Arab Emirates Ministry of Health and Prevention to market its Fortel Ulcer Test, aimed at detecting Helicobacter pylori infection, which is linked to gastric cancer and peptic ulcers. The company also secured approval to sell its Fortel Kidney Disease Test in the UAE, targeting early detection of chronic kidney disease, a prevalent issue in the region. In a strategic financial move, Biomerica declared a 1-for-8 reverse stock split to meet Nasdaq’s minimum bid price requirements. This action, effective April 21, 2025, will consolidate shares while maintaining the number of authorized shares. These developments reflect Biomerica’s ongoing efforts to expand its diagnostic solutions and maintain its market presence.
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