There is a growing body of evidence that COVID-19 is a much more complex disease than simply a severe respiratory infection. The newest wrench in battling this deadly illness is undetected blood clots, which can cause strokes, heart attacks, and organ damage. Heparin is therefore highly recommended to prevent blood clotting. The Thromboelastography(TEG) test should be performed on all COVID-19 ICU patients immediately to find those who are at a higher risk of clotting. Thromboelastography (TEG) is a method of testing the efficiency of blood coagulation. Several companies have developed analyser for hemostasis, one of them is Haemonetics corp. (NYSE: HAE) The TEG 6s system provides rapid, comprehensive and accurate identification of an individual’s hemostasis condition in a laboratory or point-of-care setting. This device works with single-use cartridges that contains reagents which includes heparinase. 

What is heparinase used for and which company produces it ? Heparinase is used to separate molecules of heparin so that you can analyze hemostasis. IBEX Technologies (TSXV:IBT) is a Montreal based company that manufactures and markets reagents for biomedical use. Heparinase I is the most important of the IBEX enzymes. Its potential lies in its ability to cleave heparin and low molecular weight heparins and thereby neutralize the effects of heparin and heparinoids, which are drugs commonly used in hospitals and which interfere with haemostasis tests. Heparinase I recognizes and cleaves a pentasaccharide sequence which occurs in both unfractionated heparin and the low molecular weight heparins, thereby neutralizing their anticoagulant activity and thus facilitating the accurate measurement of haemostasis. This reagent is made via a proprietary process and is the only heparinase I approved for use in clinical diagnostics in North America and Europe. Ibex customers included Abbott point-of-care, Siemens, Medtronic and Haemonetics. On the last quarter, this thiny company recorded a net earnings of $626,437 and revenues for the quarter ended April 30, 2020 totaled $1,679,409 an increase of 151% compared to the same period year ago. The company expect Fiscal 2020 revenues to be higher than last year, and with the reduction in expenses  resulting from the closure of the Iowa production facility, he expect to be net earnings positive for the year. The Company continues to work on a number of new heparinase-containing clinical device projects with its key customers, some of which may result in additional revenues in Fiscal 2021 and beyond. As at June 23, 2020, the Company has 24,773,244 common shares outstanding and the balance sheet is healthy with almost 3 million in cash. This is not a purchase recommendation, always do your own DD. 

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