Biomerica, Inc. Names Douglas A. Drossman as Chair of the Scientific Advisory Board; Reports Earnings Results for the Third Quarter and Nine Months Ended February 28, 2015
April 15, 2015 at 03:08 pm
Share
Biomerica Inc. announced the formation of a Scientific Advisory Board. This advisory board will assist and guide the company with the FDA regulatory process for its new gastroenterology product, which is now patent pending. The new Scientific Advisory Board is being chaired by Douglas A. Drossman, M.D. and also includes three other key opinion leaders in the field of gastroenterology and Irritable Bowel Syndrome.
The company reported earnings results for the third quarter and nine months ended February 28, 2015. For the quarter, the company reported sales of $1,299,400 compared to $1,492,719 for the same period last year. Net loss was $117,193 compared to a net income of $26,544 during the same period in fiscal 2014.
For the nine months ended February 28, 2015, the company reported a net loss of $574,483 compared to net loss of $384,532 for the same period in the previous fiscal year. Net sales were $3,467,450 compared to $3,441,299 for the same period in the previous year.
Biomerica, Inc. is a biomedical technology company. The Company develops, patents, manufactures and markets advanced diagnostic and therapeutic products used at the point-of-care (in home and in physiciansâ offices) and in hospital/clinical laboratories for detection and/or treatment of medical conditions and diseases. It is also engaged in the research, development, commercialization and in certain cases regulatory approval, of patented, diagnostic-guided therapy (DGT) products to treat gastrointestinal diseases, such as irritable bowel syndrome (IBS), and other inflammatory diseases. The Company's InFoods IBS product uses a simple blood sample and is designed to identify patient-specific foods that, when removed from the diet, may alleviate IBS symptoms such as pain, bloating, diarrhea and constipation. The Companyâs two subsidiaries, Biomerica de Mexico, which is used for assembly/manufacturing and BioEurope GmbH, which acts as a distributor of Biomerica products in certain markets.
Biomerica, Inc. Names Douglas A. Drossman as Chair of the Scientific Advisory Board; Reports Earnings Results for the Third Quarter and Nine Months Ended February 28, 2015
BIOMERICA, INC. 
