IRVINE, CA--(Marketwired - August 24, 2016) - Biomerica Inc. (BMRA) today announced that its common stock has been approved for listing on the Nasdaq Capital Market and is expected to commence trading on Nasdaq under the ticker symbol "BMRA" on August 26, 2016. The Company's common stock will continue to trade as "BMRA" on the OTCQB until the market close on August 25, 2016.
"Uplisting to Nasdaq represents a milestone for Biomerica as we continue our progress in the commercialization of our new IBS diagnostic guided therapy product," said Zackary Irani, CEO of Biomerica. "Trading on the Nasdaq Capital Market will increase our visibility and enhance Biomerica's corporate profile, providing us access to a broader investor base that we believe will ultimately lead to improved liquidity for shareholders."
Biomerica's executive team believes the transition to Nasdaq may qualify the Company's common stock to be traded by more mutual funds, pension funds, and other institutional holders.
Nasdaq is home to more than 3,400 listed companies with a market value of over $8.5 trillion.
About Biomerica (BMRA)
Biomerica, Inc. (www.biomerica.com) is a global biomedical company that develops, manufactures and markets advanced diagnostic products used at the point-of-care (in home and in physicians' offices) and in hospital/clinical laboratories for the early detection of medical conditions and diseases. The Company's products are designed to enhance health and well-being, while reducing total healthcare costs. Biomerica primarily focuses on products for Gastrointestinal Disease, Diabetes and esoteric testing.
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Biomerica) contains statements that are forward-looking; such as statements relating to intended launch dates, sales potential, significant benefits, market size, prospects, new products, favorable outlook, new distributors, expansion, increases in productivity and margins, expected orders, leading market positions, anticipated future sales or production volume of the Company, the launch or success of product and new product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. The potential risks and uncertainties include, among others, fluctuations in the Company's operating results due to its business model and expansion plans, downturns in international and or national economies, the Company's ability to raise additional capital, the competitive environment in which the Company will be competing, and the Company's dependence on strategic relationships. The Company is under no obligation to update any forward-looking statements after the date of this release.