As fear, even hysteria, builds over the spread of the dreaded coronavirus, one company is wasting no time putting its product forward as a possible solution.
Monday, LexaGene Holdings, Inc., with offices in Beverly, Mass., but trading widely on the TSX Venture exchange (TSX-Venture:LXG), claims to have received many inquiries about its technology for detecting coronavirus. CEO and Founder Jack Regan was quick to speak up on his company’s behalf.
"LexaGene’s technology is ideally suited to identify novel pathogens such as coronavirus. Our genetic analyzer can quickly detect new pathogens in just one hour, on-site."
Regan added, "Currently, the traditional process requires that samples from sick individuals must be transported to laboratories for manual processing. This is extremely inefficient and introduces a significant time-delay that can have severe consequences for disease spread. Today’s coronavirus outbreak highlights why LexaGene’s technology is needed so desperately."
LexaGene has developed a fully automated, molecular-based diagnostic that can provide these answers in an hour – rather than the typical three-day turnaround time for a sample shipped to a reference laboratory.
To evaluate its newly developed assays, LXG tested them against the most dangerous antibiotic-resistant bugs we could get our hands on and have been thrilled with the data – as we successfully detected 100% of the targeted genetic sequences.
Shares in the stock gathered seven cents, or 10%, by Monday’s noon hour to 77 cents, on strong volume of 472,000 shares.
