Stock Alert: Biomerica Shares Surge 25% In Pre-Market

(RTTNews) - Shares of Biomerica Inc. (BMRA) are soaring over 25% in pre-market today, after the company announced signing of two separate definitive license agreements with Mount Sinai's Icahn School of Medicine in New York to license technologies pertaining to a laboratory version serological test for SARS-CoV-2 virus infection which have been developed at Mount Sinai.

The company noted that this test uses the ELISA microplate format that can run on existing open system equipment found in most hospitals and clinical laboratories in the United States.

Once developed and scaled-up, Biomerica's existing production capacity could allow for over 1,000,000 tests per month at its manufacturing facilities in Irvine, California.

The stock has been trading in the range of $2.05 - $23.39 for the past one year, and closed Wednesday's trade at $7.00, down 15 cents or 2.10%. BMRA is currently trading at $8.81, up $1.81 or 25.86% in the pre-market trading session.