Biomerica Adds Most New Retail Followers Among Biotechs After UAE Nod For Prostate Cancer Screening Test
The latest approval aligns with Biomerica’s strategy to broaden its presence in the Middle East, a region where prostate cancer is increasingly viewed as a pressing health issue.
FollowMedical diagnostic product maker Biomerica Inc. emerged as the top biotech stock with the highest jump in new retail followers on Stocktwits Friday.
Shares of the nanocap company tumbled over 9% on Friday afternoon, following a 100% surge in the prior session — its best single-day performance since March 18, 2020, when the stock more than quadrupled.
On Thursday, Biomerica announced that its Fortel Prostate Specific Antigen (PSA) Screening Test received approval from the UAE Ministry of Health and Prevention.
The test offers rapid and accurate results in just 10 minutes using a simple finger-prick blood sample, measuring PSA levels, an established early marker of prostate disease.
The accessible nature of the test is designed to facilitate early detection of prostate cancer and related conditions, aiming to improve patient outcomes, reduce strain on healthcare systems, and encourage proactive health management, the company said.
The UAE approval aligns with Biomerica’s strategy to broaden its presence in the Middle East, a region where prostate cancer is increasingly viewed as a pressing health issue.
The company previously achieved regional success with its EZ Detect Colon Disease At-Home Screening Test, which secured government insurance reimbursement in Dubai.
Biomerica said it is working to replicate this success with the Fortel PSA test, establishing partnerships with key distributors and securing regulatory approvals to improve accessibility to early cancer detection solutions.
BMRA sentiment and message volume Jan 17 as of 11:45 am ET | source: Stocktwits
Despite Friday’s stock dip, likely driven by profit-taking, retail sentiment on Stocktwits remained ‘bullish’, with a notable rise in message volume.
Many retail investors indicated they were “buying the dip,” as chatter about the stock soared.
Biomerica’s retail follower count on Stocktwits has climbed nearly 5% over the past year, while message volume has soared over a thousand-fold, even as the stock has shed more than 31% in value during the same period.
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