Hi, Robert, BMRA's test kit is the old tech and old story that will not compete with NMPS's.
I was anxious like you with the same reason. But, fortunately, I got some biotech specialists and doctors to ask.
In fact, PSA is a 30-year-old technology. The trick of the BMRA's news is that PSA is the early "WARNING" indicator of Prostate Cancer. That is, a person with high PSA is not necessory to have Prostate Cancer. There could be other reasons to make PSA high. The point is that BMRA just tried to make easier the old tech (PSA) which has been used for years. The accuracy of detecting Prostate Cancer could be very poor if only using PSA test. However, Matritech detects cancers by detecting the NMP (Nuclear Matrix Protein) of the cancer cells. Therefore, NMPS should have 100% accuracy theorotically. ie. A person with a positive NMP cancer test result means that he "definitely" but not "might" get cancers.
And more, Biomerica just introduced its EZ-PSA. They didn't start the clinical trial yet. FDA approval for EZ-PSA is even further. Also, a lot of big biotech guys already deeply involved in the PSA test market. I doubt that BMRA can get a lot mraket share in PSA test in the future. BMRA went up so crazy yesterday just because of hype and 3 million outstanding shares. People with 8 million dollars can easily buy out this company. If it is so worthy, the big biotech guys should have taken it over or the stock price should be much higher. I am not saying that Biomerica is a bad company. But comparing to Matritech, I think Matritech is still a lot better. Biomerica got $0.02/share earning (net income $20,000 & Rev $2.1 million) last quarter.
I did jump in 1000 shares BMRA yesterday at $6.75 and quit at $8.25. I tried to short this stock today when the market open but my broker was unable to borrow any stocks. I pridict MBRA will drop to around $5 just like TMED a few months ago. I still tightly hold on NMPS. BMRA was just a desert to me.
Good Luck! |
