AFFX Affymetrix, Inc.

Luminex Corporation (LMNX), a developer of biological testing technologies, recently received the prestigious Medical Design Excellence Award (“MDEA”) for its MAGPIX analytical instrument. MDEA, organized by the leading business-to-business media company UBM Canon, is a premier awards program which recognizes the achievements of medical devices manufacturers.

MAGPIX was recognized in the “In Vitro Diagnostics” category of the award, through a comprehensive review by a multi-disciplinary jury panel, for its innovative design and contribution. The award will be presented at a ceremony on June 8, 2011, at the Jacob K. Javits Convention Center in New York City.

The MAGPIX system (launched in July 2010) leverages Luminex’s proprietary open-architecture xMAP technology and is capable of producing up to 50 tests on a single sample. The versatile multiplexing platform can be used to test both nucleic acids (DNA and RNA) and proteins. MAGPIX has been designed to offer fast, accurate and easily reproducible test results while enabling laboratories to save time and cost.

Texas-based Luminex develops, manufactures and markets proprietary biological testing technologies, which have applications across the life sciences industry. Its xMAP technology enables fast, cost-effective and accurate conduct and analysis of biological tests (bioassays).

Luminex has an extensive product portfolio and a healthy pipeline. Moreover, the company continues to expand its xMAP technology-based installed instrument base and has a strong international presence.

However, Luminex operates in the highly competitive life sciences industry, characterized by rapid and continuous technological innovation. The company competes with Affymetrix (AFFX), Life Technologies (LIFE) and Sequenom (SQNM).

Moreover, Luminex is susceptible to regulatory delays. Also, demand for research and diagnostics applications is expected to remain soft, at least in the near term, given the still challenging macroeconomic backdrop. We currently have a Neutral rating on Luminex. The stock currently retains a Zacks #4 Rank, which translates into a short-term Sell recommendation.

 
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