(RTTNews) - Biomerica, Inc. (BMRA), a biomedical technology company, reported financial results for the third quarter of fiscal year 2026, which ended on February 28, 2026, reflecting a decline in revenue.
Company Profile
Biomerica engages in the development, patenting, manufacturing, and marketing of diagnostic and therapeutic products for the detection and treatment of medical conditions and diseases.
The firm also sells products for treating gastrointestinal diseases and food intolerances, as well as various esoteric tests at the physicians' offices, over-the-counter drugstores, and hospital/clinical laboratories.
The firm's key pipeline products include inFoods IBS (precision nutrition therapy) hp+detect(H. pylori test), EZ Detect (colorectal screening)
Biomerica's nFoods IBS is a diagnostic-guided therapy that uses a blood test that identifies patient-specific food triggers responsible for symptoms such as abdominal pain, bloating, diarrhoea, and constipation.
Third Quarter Financial Results
Net loss for the third quarter of fiscal year 2026 widened to $1.31 million from $1.16 million in the prior year.
However, on a per-share basis, net loss narrowed by 37% to $0.92 from $1.47 in the prior year.
Net sales slipped to 0.98 million from 1.12 million in the prior year.
Zack Irani, CEO, said, " This quarter reflects the cost of doing something harder than maintaining the status quo. We are restructuring Biomerica around higher-margin, diagnostically-driven products and a growing Contract Development and Manufacturing Organisation (CDMO) services business — and near-term revenue reflects that transition.
BMRA has traded between $1.87 and $4.88 over the last year. The stock closed Monday's trade at $2.01, down 2.80%.
In the after-hours market, BMRA is up 1.44% at $2.11.
For More Such Biotech Stock News, visit rttnews.com.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
