Shares of GenMark Diagnostics (GNMK -25%) get slammed after one of its customers, Natural Molecular Testing, launches their laboratory developed comprehensive Personalized Medicine Panel using Luminex's (LMNX +6%) xMAP technology. Terms of the multi-year collaboration and license agreement were not disclosed.
Luminex (LMNX) receives FDA approval for its MAGPIX instrument with xTAG Gastrointestinal Pathogen Panel. The instrument can perform multiple GI tests in hours, a vast improvement from traditional methods which took several days to perform a single test, according to the company. Shares +1.5% premarket.
Luminex (LMNX -4.5%) slips after Wedbush initiated coverage with a cautious Neutral rating and $17 price target - near current levels. Wedbush says the company's business with Labcorp is slipping, and increasing competitive risks in the key respiratory diagnostics business, along with potential headwinds following the heavy Q113 flu season, leave its current multiple in question. The firm adds that the stock is presently trading at a premium to the life science tools group, and near-term expectations are too high.
Luminex (LMNX) signs a deal to develop a diagnostic device that will help screen patients for recruitment into Merck's (MRK) clinical trials for MK-8931, its lead investigational candidate for Alzheimer's disease (AD). (PR)
Luminex (LMNX +2.7%) trades back down to earth following a +10% jump at the open after receiving FDA clearance for its xTAG Gastrointestinal Pathogen Panel, the first comprehensive molecular diagnostic assay that tests for greater than 90% of infectious causes of gastroenteritis in a single test.