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DUBAI - The United Arab Emirates Ministry of Health and Prevention has approved Biomerica Inc.’s (NASDAQ:BMRA) Fortel Ulcer Test for home use, the company announced Thursday. The microcap healthcare company, currently valued at $7.71 million, maintains a strong liquidity position with a current ratio of 3.76, according to InvestingPro data.
The 10-minute rapid diagnostic test detects antibodies to Helicobacter pylori (H. pylori), a bacterium responsible for peptic ulcers, dyspepsia, and gastric cancer. The test will be available for self-administration at home throughout the UAE.
H. pylori affects approximately 41% of the UAE population, according to the company’s press release. The bacterium is linked to up to 80% of gastric cancer cases globally and is classified as a Class 1 carcinogen by the World Health Organization.
Gastric cancer ranks as the fifth most common cancer worldwide and the fourth leading cause of cancer-related deaths.
"This can help drive earlier and more effective medical treatment and potentially save lives," said Zack Irani, CEO of Biomerica, in the statement. While the company has seen revenue growth of 5.01% over the last twelve months, its stock has declined by over 54% in the past six months. InvestingPro analysis suggests the stock is currently trading below its Fair Value, presenting a potential opportunity for investors interested in the healthcare diagnostics sector.
The company is partnering with UAE-based distributors and healthcare providers to make the test available at pharmacies, clinics, and online platforms. This approval builds on Biomerica’s existing presence in the Middle East, where it has previously launched other diagnostic products. For deeper insights into Biomerica’s financial health and growth prospects, including additional ProTips and detailed metrics, explore InvestingPro’s comprehensive analysis tools.
If left untreated, up to 20% of H. pylori-infected individuals may develop complications such as peptic ulcers, chronic digestive pain, or gastric malignancies, according to the company.
The information in this article is based on a press release statement from Biomerica.
In other recent news, Biomerica, Inc. has announced the appointment of Scott Madel as Chief Commercial Officer. Madel brings over 20 years of experience in healthcare and diagnostics, having previously served as President of Boston Heart Diagnostics and holding CEO positions at BioHealth Diagnostics and Genova Diagnostics Europe. Additionally, Biomerica has appointed Eric B. Chin to its Board of Directors. Chin, who is currently the CFO at Akido Labs, will chair the Audit Committee and contribute to other key committees. In clinical developments, Biomerica’s inFoods® IBS test has shown promise in managing symptoms of Irritable Bowel Syndrome (IBS). A recent study published in Gastroenterology demonstrated significant improvements in symptoms for patients following a diet based on the test’s recommendations. The trial included 238 IBS patients across eight U.S. academic centers, with notable improvements in abdominal pain and bloating. These developments highlight Biomerica’s ongoing efforts in advancing diagnostic and therapeutic solutions.
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