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Lexagene Holdings Inc V.LXG


Primary Symbol: LXXGQ

Healthcare Medical Devices
Lexagene Holdings Inc. is a molecular diagnostics company engaged in researching, developing and commercializing automated genetic analyzer devices in clinical and life science industries. The Company is focused on developing molecular diagnostic systems for pathogen detection and genetic testing for other molecular markers for on-site rapid testing in veterinary diagnostics, and for use in open-access markets such as food and water safety, clinical research, agricultural testing and biodefense. The Company's MiQLab System is an automated, open-access molecular diagnostic system for pathogen detection, allowing users to test for multiple pathogens onsite, returning results in approximately 2 hours. Its MiQLab System is an automated, multiplexing polymerase chain reaction (PCR)-based system designed for syndromic testing in human clinical diagnostics and veterinary diagnostics, as well as food safety testing, and open-access custom testing markets.


GREY:LXXGQ - Post by User

Lexagene Holdings Inc > New Press Release - LexaGene Files for Chapter 7 Bankruptcy
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Comment by ARIMA11on Feb 24, 2023 12:48pm
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Post# 35303724

RE:RE:RE:New Press Release - LexaGene Files for Chapter 7 Bankruptcy

RE:RE:RE:New Press Release - LexaGene Files for Chapter 7 Bankruptcy
https://lexagene.com/newsreleases/biopharma-engages-lexagene-in-second-feasibility-study/
 
As an update to LexaGene’s announcement on December 7, 2022 that it intended to reprice certain common share purchase warrants held by Meridian LGH Holdings, LCC, LexaGene confirms that it will no longer reprice the warrants.  Dr. Regan commented, “The Company originally pursued repricing Meridian warrants as an inexpensive and fast way to provide operating cash to the Company.  LexaGene and Meridian’s management are sensitive to shareholders’ concern that the acceleration clause associated with the repricing may have the unintended consequence of limiting the possibility of LexaGene’s stock to appreciate. To avoid such a scenario, LexaGene and Meridian have mutually agreed to cancel the repricing and will seek alternative paths to capitalize the company.”

Wow.
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