Innovative, a molecular diagnostics company, Lexagene Holdings (OTCMKTS:LXXGF), which has commercialized MiQLab® System for automated, genetic testing announced on August 29, 2022, that the system can perform Centers for Disease Control and Prevention Monkeypox real-time PCR test.
Trading Data
On Monday, LXXGF stock jumped 28.16% to $0.1461 with 245.14K shares, compared to its average volume 127.77K shares. The stock moved within a range of $0.1133 – 0.1461 after opening trade at $0.1155.
LexaGene Verifies CDC Monkeypox Assay Works on MiQLab System and Readies Company Should a EUA be Declared
In July, the World Health Organisation declared Monkeypox a public health emergency. In August, the government of the United States government declared it a public health emergency. There are concerns about a spike in infections due to school activities.
A viral disease with no known cure, Monkeypox symptoms include swollen lymph nodes, fever as well as a rash forming blisters. The symptoms can be severe, especially in pregnant women, children as well as immunocompromised individuals. Furthermore, there is evidence of the virus spreading from humans to dogs.
Dr. Jack Regan, LexaGene’s Founder and CEO said that the firm advanced its technology during the COVID-19 pandemic. Regan further added that FDA has not confirmed a EUA for the epidemic but LexaGene is in a position to help if authorization is given. The CEO also stated that MiQLab System may be rapidly configured for detecting new pathogens. The company continues to advance it as a solution for newly emergent pathogens.
However, LexaGene isn’t making claims on the product having the ability to eliminate, cure or contain Monkeypox.
Key Quote
Dr. Jack Regan, LexaGene’s Founder and CEO stated, “During the COVID-19 pandemic, we advanced our Company and our technology. The FDA has not yet declared a EUA for this epidemic, but should one be declared, LexaGene is in a position to pursue such an authorization. The MiQLab System is a platform that can be quickly configured to detect any new pathogen and for this reason, we continue to advance it as a solution for rapidly detecting newly emergent pathogens at the point-of-care.”
Technical Data
LXXGF stock is trading above the 20-Day and 50-Day Moving averages of $0.11 and $0.11 respectively. However, the stock is trading below the 200-Day moving average of $0.20. The company has a total market capitalization of $20.30 million.
