Biomerica gains as it sees Q2 revenue more than tripling

Biomerica

16/12/2021 14:17

** Diagnostic co's shares  BMRA.O  rise ~13% to $4.58
premarket
    ** BMRA expects Q2 revenue to increase three-fold to $4.6
mln, driven by increased demand for its COVID-19 tests
 urn:newsml:reuters.com:*:nGNXbdM9sB
    ** As the coronavirus continues to present new variants,
BMRA anticipates demand for COVID-related tests and at-home
tests for other diseases to remain strong - CEO Zack Irani
    ** BMRA says it expects to report Q2 operating loss of $0.9
mln-$1.3 mln, as logistics constraints and higher shipping costs
dented margins
    ** Co also says its InFoods IBS clinical trial is on track
for completion this month; expects to announce topline results
in Jan
    ** Up to Wednesday's close, BMRA shares had fallen 18.5%
this year

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))