BUZZ-Biomerica: China's FDA approves colorectal screening test for cancer

** Diagnostic test maker's shares up as much as 64.77 pct to touch record high of $7.25 - biggest intraday pct gain since May 2016

** Stock second biggest gainer on Nasdaq

** Says China's Food and Drug Administration approved colorectal screening test to help identify the early warning signs of colorectal cancer, also known as bowel cancer

** About 376,000 new cases of colorectal cancer were reported annually in China and about 191,000 die from the disease every year, the company said

** More than 376,000 shares traded, 17.8x 30-day moving avg

** Up to Tuesday's close, stock had risen 79.6 pct in the past twelve months (Reporting by Akankshita Mukhopadhyay in Bengaluru; Editing by Bernard Orr)