Webinar / town hall meeting notes There was a townhall investor call meeting put together by a group called O&M Partners. It was a very strong and positive presentation by Jack (intro), and then Daryl, President (live portion).
- Daryl confirmed recently announced delays were completely related to supply issues due to covid, and people actually getting sick with covid at Lex; various non-tech related issues slowed down commercialization launch
- He confirmed confidently that there are no tech related issues with Miqlab
- Testing and optimizing of Miqlabs already built are going well, and are being completed successfully
- The delay will result in timelines being pushed by a few weeks, not months
- Lex has 2 contract manufacturers ready to sign deal once Lex is ready; for now, build in-house to have maximum control of testing, optimization, quality control, etc., but easy to get contract manufacturers to manufacture Miqlab; easy to ramp production
- Covid FDA EUA process complicated and tough, but process will move very fast once studies start. FDA very interested in having MiQlab succeed. Daryl stated that although company publicly stated tests will start December, they were being conservative with the timelines; it's very possible that they will start the studies sooner; once studies start - 1 month to complete study, 3-4 weeks to hear back from FDA
- It was apparent from the presentation that there is a ton of activity at Lexagene in terms of manufacturing, sales, marketing, vet market, FDA EUA process, etc... Everything running at full speed ahead
- Darly confirmed we should be hearing about placements / sales soon.. in a matter of weeks, not months
This was a very positive call. I expect stock price to start climbing from here and pop when they announce their first sales/placements.