Luminex Corporation (LMNX - Free Report) recently announced that it has presented the ARIES MRSA Assay to the FDA for clearance. With this submission, the company has once again asserted its commitment toward the expansion of its portfolio of clinically relevant and high-value tests. These tests support patient care on sample to answer platforms globally.
Further, the company’s ARIES system will get a substantial boost once the FDA approves the product.
Notably, the company’s VERIGENE II GI Flex and RSP Flex submissions and commercialization of its new SENSIPLEX instrument are on track with the previously announced timelines.
Staphylococcus aureus (MRSA): A Glimpse
Per the definition provided by Mayo Clinic, Methicillin-resistant Staphylococcus aureus (MRSA) infection is caused by a type of staph bacteria, which is resistant to many of the antibiotics utilized to treat ordinary staph infections.
Most MRSA infections can be witnessed in people who have stayed in hospitals or other health care settings, such as nursing homes and dialysis centers. When it occurs under such a setting, it is known as health care-associated MRSA (HA-MRSA).
Further Details on ARIES MRSA Assay
The assay is a real-time, quantitative polymerase chain reaction (qPCR)-based, in vitro diagnostic test for direct identification of methicillin-resistant Staphylococcus aureus (MRSA) DNA from nasal swabs in patients who are at risk for nasal colonization.
Molecular tests such as these carry the potential to help physicians in controlling the spread of antimicrobial resistance and the connected negative outcomes for both patients and healthcare facilities. This in turn can lead to effective patient management by lowering unnecessary use of antimicrobial therapies.
Luminex’s ARIES Platform Update
Luminex’s ARIES system — representing a major revenue opportunity for the company — has been making substantial progress. The company is focused on fortifying its market leadership in infectious disease with sample to answer platform, the ARIES system.
In fact, the company is about to complete its clinical study for Group A Strep, which would soon be submitted for review to the U.S. FDA.
According to a report by MarketandMarkets, the global molecular diagnostics market is projected to reach $15.94 billion by 2027 from $8.38 billion in 2019 at a CAGR of 8.4%. High prevalence of infectious diseases and different types of cancers, advancements in molecular techniques, and rise in awareness and acceptance of personalized medicine and companion diagnostics are some of the key factors driving growth of this market.
Zacks Rank and Share Price Performance
Currently, Luminex carries a Zacks Rank #3 (Hold). Shares of the company have lost 11% year to date, against the industry’s rally of 17.2%. Further, the stock compares unfavorably with the S&P 500 index’s growth of 17.3%.
Some better-ranked stocks from the broader medical space are Biolase, Inc. (BIO - Free Report) , Oxford Immunotec Global PLC (OXFD - Free Report) and Haemonetics Corporation (HAE - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Biolase has a long-term earnings growth rate of 15%.
Oxford Immunotec has a long-term earnings growth rate of 25%.
Haemonetics has a long-term earnings growth rate 13.5%.
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