Phoenix, Arizona--(Newsfile Corp. - June 11, 2020) - The Stock Day Podcast welcomed LexGene Holdings, Inc. (TSXV: LXG) (OTCQB: LXXGF) (the "Company"), a biotechnology company that develops genetic analyzers for rapid pathogen detection is pleased to provide the following update on the Company's development plans of its flagship pathogen detection platform for the human clinical, veterinary diagnostics, and food safety sectors. President of the Company, Daryl Rebeck, joined Stock Day host Everett Jolly.
Rebeck began the interview by updating listeners on the Company's background and current projects. "Here at LexaGene, we're developing a very easy-to-use, low cost, sample-to-answer diagnostic test - meaning we're looking for pathogens," said Rebeck, noting the device's prevalence in the current pandemic. "It's really geared towards practitioners who want a better, faster, and more detailed test."
Jolly asked about the Company's clinical trials, as well as their pre-commercial placement in Dartmouth-Hitchcock Medical Center. Rebeck explained that the COVID-19 pandemic has created quicker processing times for Emergency Use Authorization (EUA) applications. "The Dartmouth placement was very important for us to illustrate the fact that we can do it, we are doing it, and it's a market that we hope to enter," said Rebeck. "With the Dartmouth placement to show that we can, and the fact that we're submitting our EUA proposal, that changes things in an immense way," he continued.
Rebeck then expanded on the results of the Company's placement in Dartmouth-Hitchcock Medical Center. "The idea there is that they're using it, they're collecting data, detecting COVID-19, and we're learning a lot about COVID-19," said Rebeck. "It's been a great learning process, it's a great validation point, and it's also something that paves the way for us into human clinicals."
Jolly then noted that the Company is currently pre-revenue, and asked about the potential of the next two to three quarters. Rebeck shared that the Company has primarily been an R&D company, but is now entering into sales. "As a shareholder, we're still relatively unknown; our market cap is very small considering what our competitors trade at, and sales will change all of that," said Rebeck.
The conversation then turned to the Company's sales strategy and timeline. "We're hiring sales people in the coming weeks, which is a big step," said Rebeck. "We will then move into sales and start delivering units at the end of September," he added. "If we get EUA clearance that is a huge deal," said Rebeck. "We're really moving towards that first quarter where you can say 'we have sales now, we've sold units' and this is what everyone wants to see, including us," said Rebeck.
To close the interview, Rebeck expressed the potential of the Company as they enter the market. "It's a very exciting time and I don't think it is reflected enough in the stock," said Rebeck. "We're finally at that finish line, even though the stock is not reflecting it. So, I think it's a great time for people to look at it and I urge them to spend some time online," closed Rebeck, encouraging shareholders to check out the Company's information and testimonials, which are available on their website.
To hear Daryl Rebeck's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7605048-lexagene-holdings-inc-discusses-the-sales-strategy-for-its-pathogen-detection-technology-with-t.
About LexaGene Holdings Inc.
LexaGene is a biotechnology company that develops genetic analyzers for pathogen detection and other molecular markers for on-site rapid testing in veterinary diagnostics, food safety and for use in open-access markets such as clinical research, agricultural testing and biodefense. End-users simply need to collect a sample, load it onto the instrument with a sample preparation cartridge, enter sample ID and press 'go'. The LX Analyzer delivers excellent sensitivity, specificity, and breadth of detection and can return results in about 1 hour. The unique open-access feature is designed for custom testing so that end-users can load their own real-time PCR assays onto the instrument to target any genetic target of interest.
For further information, please contact:
Vice President of Capital Markets, LexaGene
800.215.1824 ext 207
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking information, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors -- including the availability of funds, the results of financing efforts, the success of technology development efforts, the cost to procure critical parts, performance of the instrument, market acceptance of the technology, regulatory acceptance, and licensing issues -- that could cause actual results to differ materially from the Company's expectations as disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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