Research Desk Line-up: DENTSPLY SIRONA Post Earnings Coverage

LONDON, UK / ACCESSWIRE / June 7, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Luminex Corp. (NASDAQ: LMNX). The Company announced on June 05, 2017, that the Japan's Central Social Insurance Medical Council has approved the recommendation by the Japanese Ministry of Health, Labor and Welfare (MHLW) to provide reimbursement for two VERIGENE assays, the Gram-Positive Blood Culture (BC-GP) test, and the Gram-Negative Blood Culture (BC-GN) test. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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The Announcement

The VERIGENE System enables clinicians to rapidly identify the pathogens responsible for some of the most complex, costly, and deadly infectious diseases, without the need of relying on time-consuming culture methods. VERIGENE additionally provides cost-effective bacterial identification and antibiotic resistance determination directly from positive blood culture that bottle up to 48 hours faster than the conventional determination methods.

Luminex views this decision as a step for VERIGENE placements in Japan, which is probably the largest market for molecular diagnostics. The Company will collaborate with its partner, Hitachi High Tech, and will initially target the large- and mid-size hospitals with molecular diagnostics facilities in Japan. The Company believes that the solution will be quite viable for quick and cost-effective differentiation of potential blood culture contaminants to enhance patient outcomes with the most effective antibiotic treatment.

The MHLW established reimbursement went into effect on June 01, 2017, where the decision follows the regulatory clearance of these panels by Japan's Pharmaceuticals & Medical Devices Agency in 2016.

Gram-Positive Blood Culture Test

The VERIGENE Gram-Positive Blood Culture Test identifies genus, species, and genetic resistance determinants for a broad panel of gram-positive bacteria, directly from positive blood culture bottles. Gram-positive bacteria are the primary source of contamination during blood draws, at times, which results in clinically-irrelevant positive blood cultures. Patients with contaminated blood culture bottles are often presumptively treated for bloodstream infection for multiple days, till the organism can be identified as a contaminant using conventional biochemical methods.

Gram-Negative Blood Culture Test

The VERIGENE Gram-Negative Blood Culture Test helps identify genus, species. and genetic resistance determinants for a broad panel of gram-negative bacteria, directly from positive blood culture bottles. The test involves one pipetting step with less than 5 minutes of hands-on time. The run time for the test is less than 2 hours, with an on-demand and scalable workflow.

Company Growth Prospects

On May 3, 2017, Luminex announced that it received FDA clearance for the ARIES Bordetella Assay for direct detection and identification of Bordetella pertussis and Bordetella parapertussis nucleic acid in nasopharyngeal swab specimens obtained from individuals, who were suspected to have a respiratory tract infection attributable to B. Pertussis or B. parapertussis. This FDA Clearance was the fourth assay to clear since October 2015 for use on Luminex ARIES Systems.

ARIES Systems is a revolutionary technique which automates all the aspects of testing from sample preparation through analysis, delivering tests in less than 2 hours with minimal hands-on time. The ARIES Bordetella Assay is part of Luminex's comprehensive respiratory testing portfolio, which also includes VERIGENE as an active part. According to the Company, the high specificity of the Bordetella Assay combined with the rapid results provided by ARIES' platform will enable more positive patient outcomes.

Dividend News

The Company additionally announced on May 24, 2017, that its Board of Directors has declared a cash dividend of $0.06 per share of common stock for Q2 FY17. The dividend will be payable on July 14, 2017, to the stockholders of record as of the close of business on June 23, 2017.

Last Close Stock Review

At the closing bell, on Tuesday, June 06, 2017, Luminex's stock marginally fell 0.92%, ending the trading session at $20.55. A total volume of 96.58 thousand shares have exchanged hands. The Company's stock price surged 15.51% in the last three months, and 5.38% in the past six months. Moreover, the stock gained 1.58% since the start of the year. The stock is trading at a PE ratio of 61.71 and has a dividend yield of 1.17%. The stock currently has a market cap of $899.68 million.

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