Lexagene Holdings Inc LXXGQ

New 5 minutes test for COVID-19 by Abott

[BigBagofWeed]

https://techcrunch.com/2020/03/27/a-new-fda-authorized-covid-19-test-doesnt-need-a-lab-and-can-produce-results-in-just-5-minutes/

[kh231]

YIKES!!! Is this bad news for LXG ?!

[Investor62]

why bad news? LXG main business is not testing the COVID-19. Don't forget what the main usage will be: in their company presentation this is clearly shown. Main concentration is on the non-human medical tests: Veterinary Diagnostics ~ $5.4B Food Safety ~ $24.4B Open-Access Use > $10B This is a $40 billion market. Clinical Diagnostics ($12.9B) requires FDA approval, and that's what they&

[EduardoSanchez]

The Abbott 5 minute PCR test is far from a sensitive test. It is achieves below 90% concordance. This type of test is generally used for diagnosing the flu which makes sense, but to diagnose Covid which is 20 X more lethal makes no sense. This test will not contain Covid. It goes to show how desperate the US is to get rapid testing. Here is an article from Science Daily showing results of a

[BigBagofWeed]

EVEN THOUGH ITS NOT ACCURATE AT LEAST ITS OUT THERE.  LXG IS SLEEPING AT THE WHEEL.

[EduardoSanchez]

LexaGene’s technology is best designed for syndromic testing, where people want to identify the cause of infection (and how to treat it if we include antimicrobial assays).  In other words - applications where a high Plex is desirable.   The Abbott machine is used primarily for flu diagnoses. It is a machine that is designed to detect one specific target. COVID will become seasonal -

[007dave]

Great information again Mr Sanchez and I'm pretty sure the long term holders believe in Dr Regan and the LX2 capabilities big BUT here is Lexagene seems to be slow to the party and in recent new releases the information seems vague. I've said it before just be clear and concise. " Yes Lexagene has developed not is developing and give us and the market a start date for manufacturing

[letsdoit]

You can have the best product in the world but if you are clueless on how to run a business then it don't matter a dime, can't blame the big shareholder for selling, this is no way to run a Business, geeks with a decent machine won't wow Wall Street, I'm selling up, I'm done man

[007dave]

Can't disagree. Also can't wow Wall Street with a TSX Venture listing either. Should have gone for Nasdaq listing months ago.