Biomerica surges as FDA clears bacterial infection test

Biomerica

18/12/2023 16:33

** Shares of Biomerica  BMRA.O  rise as much as 74.7% to hit
a more than 4-month high of $1.73 
    ** Stock last up 51% 
    ** Diagnostics maker says it has received clearance from the
U.S. FDA to market its H. pylori bacteria detecting test kit 
    ** H. pylori is a type of bacteria that attacks the stomach
lining and is known to be a cause of peptic ulcers and a type of
gastric cancer, among other diseases 
    ** H. pylori bacteria infects about 35% of U.S. population,
according to the company 
    ** More than 32.5 mln shares changed hands so far on Monday
- over 1200 times the stock's 25-day moving average volume
    ** Despite session's gain, stock down 59.1% YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))