Luminex Wins FDA Clearance - Analyst Blog
January 16 2013 - 9:30AM
Zacks
Luminex
Corporation (LMNX) recently revealed that it won clearance
from the FDA for its xTAG Gastrointestinal Pathogen Panel, which is
a complete molecule-based diagnostic assay. It tests for over 90%
of parasitic, bacterial and viral reasons for gastroenteritis in
one assay. The xTAG Gastrointestinal Pathogen Panel has been
commercialized in the U.S. It is believed that its use will permit
better detection of pathogens.
The xTAG Gastrointestinal Pathogen
Panel is a complete multiplexed offering. The assay concurrently
tests for as many as eleven of the most frequently occurring causes
of gastroenteritis. The xTAG Gastrointestinal Pathogen Panel is
able to provide outcomes in less than five hours. The assay is
meant for the Luminex 100/200 system.
Earlier, Luminex accomplished the
takeover of U.S.-based diagnostic testing company, GenturaDx on
July 11, 2012. The GenturaDx deal is in line with Luminex’s
strategy of pursuing acquisitions to drive growth. Its technology
when combined with Luminex’s MultiCode chemistry will enable the
company to develop user-friendly advanced products for its
customers.
Luminex possesses an extensive
product portfolio and a strong pipeline of novel assays, which are
expected to support growth going ahead. The company is awaiting FDA
approval for its NeoPlex4 assays to drive future growth. It may
benefit from its latest acquisitions if it maintains integration
synergies.
However, Luminex operates in a
highly competitive life sciences industry. The company competes
with Affymetrix (AFFX), Life Technologies
Corporation (LIFE) and Sequenom (SQNM),
among others. Moreover, sluggish growth in its core markets as well
as the ongoing European austerity measures are challenges faced by
Luminex. We are currently Neutral on the stock, which carries a
short-term rating of Zacks Rank #3 (Hold).
AFFYMETRIX INC (AFFX): Free Stock Analysis Report
LIFE TECHNOLOGS (LIFE): Free Stock Analysis Report
LUMINEX CORP (LMNX): Free Stock Analysis Report
SEQUENOM INC (SQNM): Free Stock Analysis Report
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