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He lives in Vancouver and can't travel. Replacing him is a positive move.
It's positive. It brings cash into the company coffers. Almost $2Mil.
Carole Baskin has endorsed LexaGene's MiQLab.
Mrs Baskin on the MiQLab !!!@Biotech_SD @PJ_Matlock @MrZackMorris $ZOM Watch out! There’s a new big diagnostics player in town $LXXGF@lexa_gene pic.twitter.com/Hrs5bJeBQf
— Sam (@SamIves8) February 10, 2021
Nice gains and big volume the past week.
News coming this week should be good.
Short sighted sellers. Rebound today.
I'm buying more too. This will be a big winner IMO.
Lets review the top markets LexaGene can serve. Total over $40B
Food Safety ($24.4B USD by 2025)
• Agricultural Testing ($6.3B USD by 2022) (includes cannabis, hemp, aquaculture testing)
• Concerned with costly recalls, brand damage
• Want to ship fresher, safer product to consumers FDA changes - mandated testing
Veterinary Diagnostics ($5.4B USD by 2024)
• Pet diagnostics • Prevents misdiagnosis, long wait times
• Growing industry, consolidation
• Want improved use of antibiotics
Clinical Diagnostics ($12.9B USD by 2025)
• 18K Moderate Complexity CLIA labs in United States
• Pandemic prevention
Other Open-Access Markets
• Water Safety Testing ($3.5B USD by 2019)
• Sample Prep Market ($9.3B USD by 2025)
• PCR Market ($7B USD by 2026)
• Genotyping Market ($11.8B USD • Pharma, biotech, academic labs, military applications, border crossing, biodefense, cruise ships, etc.
Pet Hospitals ~ 25,000 in the US
90 million dogs in the United States
95 million cats in the United States
5.4 million Urine Sediment Tests run per year in the US
48 million illnesses due to contaminated food EVERY YEAR in the US1
1.1 B tests are performed/year
Typical food recall costs ~$30 million
Pres Trump reduced FDA regulations today making it easier for companies to obtain EUA.
It is amazing and there are others, As it gains more notoriety there will be hoards following. LexaGene.com
Everything going to plan.
LexaGene Provides Corporate Update
Responds to demand for better diagnostics of COVID-19
BEVERLY, Mass. – March 11, 2020 – LexaGene Holdings, Inc., (OTCQB: LXXGF; TSX-V: LXG) (the “Company”), a biotechnology company that develops genetic analyzers for rapid pathogen detection and other molecular markers, provides the following corporate update on the development of its commercial technology and information on how the Company has responded to the demand for its technology in view of the COVID-19 outbreak.
In response to the COVID-19 outbreak, the World Health Organization has declared a ‘Public Health Emergency of International Concern’ and the FDA has encouraged CLIA labs and IVD manufacturers to submit applications for Emergency Use Authorization (EUA) to help address the lack of quality diagnostics to fight this disease. The FDA’s track record of granting EUA during declared emergencies, such as the Ebola and Zika outbreaks, provides management confidence that the Company’s decision to pursue EUA is in the best interest of its shareholders, its future customers and the patients they serve. Due to the overwhelming interest in LexaGene’s rapid, on-site analyzer for the detection of novel infectious diseases like COVID-19, LexaGene is taking every measure to accelerate its FDA EUA submission.
LexaGene CEO and Founder, Dr. Jack Regan explains, “The rapid spread of the novel disease COVID-19, with infections reported in more than 90 countries and 37 U.S. states, highlights the failure of existing diagnostics to contain a novel pathogen successfully. To contribute to the solution for this outbreak and make us better prepared for the next outbreak, LexaGene is now aggressively pursuing the clinical diagnostics market. We also have the personnel in place to remain on track to penetrate veterinary diagnostics, food safety and other markets that require open-access testing.”
Since the coronavirus outbreak, LexaGene has not only performed in-house testing on its LX Analyzer using the CDC’s coronavirus test, but the Company is also developing robust tests of its own for SARS-CoV-2, the pathogen that causes COVID-19, as well as tests for influenza A & B, human metapneumovirus, RSV, and human adenovirus, as a start for a syndromic respiratory panel. LexaGene is talking to several groups about placing one of its beta instruments in the field for research coronavirus testing. The Company plans to submit its own COVID-19 test to the FDA for EUA to be run on the LX Analyzer.
Over the last several months, LexaGene has made significant enhancements to the LX Analyzer, resulting in advanced performance while reducing manufacturing costs for improved margins of the commercial unit. The Company has begun manufacturing some of the more complicated components of the instrument, such as its optical module, and made several improvements to the analyzer’s design, including:
- Design work for improved manufacturing and serviceability
- 30% reduction in size for an upgraded optical module
- 40% reduction in manufacturing costs for improved unit pricing
- 15-fold improvement in sensitivity due to a new sample prep cartridge (from initial data)
- A new fluidic configuration that reduces number of pumps and valves by half
- Progress towards developing software to improve system usability
Furthermore, the Company has recently contracted an internationally renowned industrial design firm, Ximedica, to accelerate its commercialization efforts. In addition, the Company is in the final stages of hiring key positions in sales, product marketing, quality, regulatory affairs, engineering, and application support. The Company expects to announce some of these hires in the near future.
LexaGene President and Co-founder Daryl Rebeck concludes, “LexaGene’s progress has been tremendous. We’re doing each step of development properly and we are on track to deliver a next-generation pathogen detection system in Q3 of this year.”
About LexaGene Holdings Inc.
LexaGene is a biotechnology company that develops genetic analyzers for pathogen detection and other molecular markers for on-site rapid testing in veterinary diagnostics, food safety and for use in open-access markets such as clinical research, agricultural testing and biodefense. End-users simply need to collect a sample, load it onto the instrument with a sample preparation cartridge, enter sample ID and press ‘go’. The LX Analyzer delivers excellent sensitivity, specificity, and breadth of detection and can return results in about 1 hour. The unique open-access feature is designed for custom testing so that end-users can load their own real-time PCR assays onto the instrument to target any genetic target of interest.
Media Contacts
Nicole Ridgedale
Director of Corporate Marketing, LexaGene
800.215.1824 ext 206
nridgedale@lexagene.com
Investor Relations
Jay Adelaar
Vice President of Capital Markets, LexaGene
800.215.1824 ext 207
jadelaar@lexagene.com
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors -- including the availability of funds, the results of financing efforts, the success of technology development efforts, the cost to procure critical parts, performance of the instrument, market acceptance of the technology, regulatory acceptance, and licensing issues -- that could cause actual results to differ materially from the Company's expectations as disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Finished unit release in March. First production in August.
LexaGene.com
"We will apply for FDA Emergency Use Authorization so our analyzer can be used to detect coronavirus and other respiratory pathogens for clinical use."
LexaGene announced on Twitter Mar 4.
This is very good news. The FDA should award this with no hesitation.
CDC is aware of LexaGene (LXXGF) introducing their rapid diagnostic instrument this month. Detects coronavirus and results in 1 hour. 100% accurate. CDC correlated. Portable, table top small footprint, economical test costs, point of care. Will be installed everywhere in the world.
LexaGene, the gold standard in pathogen diagnostics.
He wrote a better description of LXXGF than LexaGene has so far. You are wrong. Nick is helping get the word out. You are not.
News letter on LexaGene says $20 possible.
https://secure.outsiderclub.com/o/web/245869
If someone wants to order 100's or 1000's of LX2's the share price should really jump. imo. It seems obvious to me that LexaGene could very easily become a multi billion dollar company. Relatively quick.
LX2's will be in every airport, seaport, hospital worldwide.
I don't understand how this trades 12000 shs at .555 after hours. This stock can't trade pre or post market hours.
Jay has been talking about Q3 for 9mos. Nothing new. Let's hope they sell all 4M warrants due in March.
She did say it look again. Posted 2 links
in message 119.
Pull up the bottom link in my post and re-read it.
She clearly states she thinks it's a game changer
at the end of the 3rd paragraph.
https://lexagene.com/release/2019/lexagene-reports-on-beta-results-from-cannabis-focused-testing-laboratory/
LexaGene shows perfect results-
https://finance.yahoo.com/news/newly-developed-tests-achieve-100-125810806.html
Read her statement again. It's not difficult.
Listen again to Daryl Rebeck's interview. We're approaching the exciting time he talks about.
https://lexagene.com/lexagene-featured-on-uptick-newswire/
Game changer was stated by Dr Brianna Cassidy.
Dr. Brianna Cassidy, Ph.D., CDX’s Chief Science Officer, reports, “The largest obstacle in developing test methods for cannabis is that the cannabinoids can prevent the tests from working, so test methods usually require heavy customization before they can be applied to cannabis. During the first week of testing LexaGene’s analyzer, all of the marijuana buds we processed had successful PCR, proving to us that LexaGene is exceptional in its ability to mitigate impacts from the cannabis matrix. We are very impressed with the underlying science behind the way the LexaGene technology performs its analysis and believe it will be a game changer for the industry.”[color=red][/color]
LexaGene is a game changer for cannabis.
https://www.cleanroomtechnology.com/news/article_page/DNA-driven_pathogen_detection_for_cannabis-hemp_products/161388
Dr. Brianna Cassidy, Ph.D., CDX’s Chief Science Officer, reports, “The largest obstacle in developing test methods for cannabis is that the cannabinoids can prevent the tests from working, so test methods usually require heavy customization before they can be applied to cannabis. During the first week of testing LexaGene’s analyzer, all of the marijuana buds we processed had successful PCR, proving to us that LexaGene is exceptional in its ability to mitigate impacts from the cannabis matrix. We are very impressed with the underlying science behind the way the LexaGene technology performs its analysis and believe it will be a game changer for the industry.”[color=red][/color]
Dr. Cassidy adds, “Our focus is to push our science to be the best possible; lower costs and increase our efficiency so we can offer the highest quality cannabis testing in the market. Our current microbial test method is limited by hands-on time, whereas LexaGene’s technology will substantially streamline our process. For example, if I were to process a sample using our standard method versus LexaGene’s analyzer, their analyzer would report results back about twice as fast as our current method – and require 95% less hands-on analyst time. These time savings would largely impact our test profit margins in a great way, not to mention the lower operating cost due to 5-fold less reagents used per test.”
Flexibility of the LX Analyzer technology allows for testing in many markets. The Company’s beta trial with CDX represents yet another market segment that LexaGene is able to serve.
Dr. Jack Regan, LexaGene’s CEO and Founder states, “We’ve had many inquiries from the cannabis sector, from identifying agricultural and human pathogens, to cannabis variety verification, to human genotyping to predict response to CBD and THC. The ‘open-access’ nature of our technology will allow beta testers to use our technology for their specific purpose.”
Cannabis and hemp products frequently contain multiple bacterial and fungal pathogens that are capable of causing serious and even fatal infections. Smoking, vaping or ingesting contaminated products pose a significant risk to not just immunocompromised individuals, but also to healthy consumers. To safeguard the consumer, regulators in each state where products are approved for consumption are now requiring testing. Overall, the amount of testing is growing yearly at 12% CAGR and the value of the testing market is expected to reach $2B by 2024.1 In support of this projection, in 2018, the Cannabis Industry Association reported that just 5% of the cannabis products for sale in California were tested for safety and nearly 20% of marijuana products failed tests for potency and purity.2,3 Furthermore, in Massachusetts, where very stringent regulations currently exist, investigative reports found that three of four dispensaries sold cannabis that tested positive for yeast and mold[color=red][/color]
https://lexagene.com/release/2019/lexagene-reports-on-beta-results-from-cannabis-focused-testing-laboratory/
Sell vol 214k, Buy vol 137k. Not so positive.
Big day today. Up 10c +17%, 69c almost 1M shs. This amazing technology will revolutionize many industries. The money is flowing in.
Here's some thoughts on possible valuation of LXXGF.
If 5% of the 70,000 vets buys an LX2 that's 3500 vets. Times 1000 tests a year per vet that's 3.5M tests. Times $96 a test is $336M in cartridge sales. Add 3500 LX2's at $40k each is $140M sales. $336M + $140M = $476M revenue.
A conservative valuation would be 4x sales = $1.9B divided by say 120M shares out = $16/sh.
Now add into the mix sales of unit and testing for water, air, food, agriculture, humans just in the USA and that number could grow by 5X That puts valuation at nearly $10B + 120M shares = $83/sh.
Cut those numbers in half and it's still pretty interesting.
Sanofi buys biotech THOR for $67/sh. THOR has no sales and is losing big money. Equating sh count to LexaGene is $18/sh.
That is very encouraging.
New articles on LexaGene in DigitalJournal and Forbes--
www.digitaljournal.com/tech-and-science/science/q-a-genetic-testing-can-identify-antibiotic-resistance/article/563005
https://www.forbes.com/sites/jimvinoski/2019/12/05/food-safety-its-better-than-you-think/#3105b079bac3
https://www.cnn.com/2019/11/27/health/e-coli-multistate-outbreak-romaine-lettuce/index.html
Excellent application for the LX2 that could prevent the distribution of contaminated food.
CEO Jack Regan shares plans for commercialization in 2020.
https://investingnews.com/daily/life-science-investing/medical-device-investing/lexagene-eyes-2020-commercialization-builds-funding/
Kal raises another $2M for himself. SCAM imo.
Excellent update from LexaGene. A must read. We are on our way. 2020 will be a big year.
Dear Shareholders and other interested parties.
Earlier today LexaGene, announced it closed a C$6.64 million financing. This is our largest raise to date which includes new retail and large institutional participation. Details of the financing can be found here. This raise solidifies our pathway to commercialization in 2020 and fuels our advancement toward market readiness.
Over the summer and fall, we have been beta testing our technology. We’ve placed beta instruments in the Massachusetts Veterinary Referral Hospital, in a cannabis reference testing laboratory called CDX Analytics, and in a human clinical diagnostics reference laboratory called Assurance Scientific Laboratories. We are proud to say, our beta instruments have generated very high-quality data with excellent concordance with standard testing methods (that are slower and take more time).
Our Beta clients have provided comments such as, “This will completely change what we do and how quickly we do it,” and “We are very impressed with the underlying science behind the way the LexaGene technology performs its analysis and believe it will be a game changer for the industry.” From our interactions with these beta testers and potential customers at conferences, we know there is strong demand for the LX technology.
In the coming weeks and months – we will continue beta testing our technology behind the scenes, as this builds market demand and is an important part of filling the sales funnel. We expect to announce more beta sites in veterinary diagnostics, and our other markets including food safety. We have done a tremendous amount of work in assay development and are working hard to make sure we will have the best tests on the market once we start selling our technology.
Occasionally, when a serious public health concern unfolds, we want to demonstrate to the street that our technology can be configured for many different purposes and be useful across different market verticals. One example is our recent work on Eastern Equine Encephalitis (EEE), which kills ~ 30% of those who develop symptoms. It is spread by the bite of a EEE-carrying mosquito. To illustrate that LexaGene can be part of the solution, our staff quickly demonstrated that our technology can be configured to detect RNA gene transcripts from mosquitos as well as transcribed EEE RNA.
From this and other work, we received some great news coverage from CBS Boston TV 4 and investor news outlets like Seeking Alpha and Investing News.
Most importantly in the coming weeks and months, we are working hard to lock down design of our commercial system, which will occur over the winter. We will be building out pre-commercial units to prepare for building a large number of commercial units for sale. Then we begin manufacturing, which is anticipated to take ~ 4 months as some of the parts are built to order. After a brief validation process – we will start selling our instruments, which is the milestone everyone has been waiting for. I assure you – we are working hard to hit this milestone as soon as possible.
To date we have been largely an R&D company, and now we are moving toward the pre-sales phase, including hiring sales talent.
This financing gives us the capital to support this effort – which is extremely exciting.
As always, thank you for your continued support.
Best,
Dr. Jack Regan – CEO and Founder of LexaGene
Design will be finalized in Q1 and orders will start to be taken.
First shipments could start by the end of Q2. That's not far away.
The first half of 2020 could get very exciting.