About LexaGene Holding Inc. About LexaGene Holdings Inc. LXXGF
“Pushing the Boundaries of Rapid Pathogen Detection”
LexaGene is a biotechnology comany 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 process multiple samples at a time, in an on-demand fashion, returning 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.
LexaGene's technology aims to transform the way organizations prevent and diagnose disease in multi-billion dollar markets such as food safety, veterinary diagnostics, water quality monitoring, aquaculture pathogen surveillance, and more.
Lexagene has raised $ 20 million since going public 3 years ago in October 2016. With a market cap of million this means that for every dollar raised it is worth $. Remember that the US government funded approximately $ 20 million around 2001 for the predecessor of the Lexagene LX Analyzer.
Because of the number of outstanding warrants (15.7 million warrants at average price of $ .80 per share) some have speculated that this will be Lexagene’s final raise. Time will tell.
CEO Dr. Regan has estimated that Lexagene operation BREAKEVEN (generate positive cash flow) is the sale of 80 to 90 Lexagene LX Analyzers. 80 to 90 UNITS !
At an estimated $ 50,000 sales price per Unit this is $ 4 to $ 4.5 MILLION. IMHO tiny.
Why tiny? 80 to 90 Units to breakeven
A) Veterinary Diagnostics 90 million dogs in USA 95 million cats 5.4 Million urine sediment tests per year in USA
"Animal clinics and hospitals in the United States: Idexx Laboratories(3,425 hospitals (competitor and potential acquirer of Lexagene Vet Diagnostics) ; survey conducted in partnership with AAHA); Gatto McFerson LLP (175 practices, in California only); Burzenski & Co. (70 practices); and the Bow Wow Jones (roughly 50 practices).
For comparison, there are about 26,000 small animal veterinary practices in the United States, according to AAHA and the American Veterinary Medical Association (AVMA). The surveys do not include data from clinics that are part of large chains, including those run by VCA Antech Inc. and Banfield Pet Hospital."
The following is a Video of the Beta Prototype TEST at Massachusetts Veterinary Referral Hospital---FOUR MINUTES
https://lexagene.com/beta-testimonial-video/