Biomerica (BMRA) - Get Biomerica, Inc. Report shares soared on Friday after the medical-diagnostics provider said Walmart (WMT) - Get Walmart Inc. Report has begun offering its EZ Detect colorectal-disease-screening test.
The stock of the Irvine, Calif., company recently traded at $5.86, up 30%. They've traded on Friday up as much as 43% at $6.42. The shares had gained 12% in the three months through Thursday.
“The company has now shipped its first orders of EZ Detect to Walmart, and beginning this week, Walmart has begun selling the product through its online sales channel,” Biomerica said.
It’s in the final phase of working with the Bentonville, Ark., retailing giant to sell the EZ Detect product on store shelves.
“In addition, the company is in negotiations with several large partners for distribution of EZ Detect in Asia, Europe and the Middle East,” Biomerica said in a statement.
The main selling point of EZ Detect is that it doesn’t require dietary restrictions or handling of stools. A user places a test pad into the toilet after a bowel movement.
A change in the pad’s color to blue/green, which should appear within two minutes, indicates the presence of blood in the stool, the company says, The pad is then flushed down the toilet.
Colorectal cancer is the second most common cause of cancer death in the U.S., after lung cancer. In 2020, an estimated 53,200 people died from it.
In other health news Friday, Merck (MRK) said its antiviral COVID drug cut the risk of hospitalization and death in high-risk patients by as much as 50%.
Merck plans to seek emergency-use approval from the Food and Drug Administration “as soon as possible.”