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January 22, 2010
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Abaxis, Inc. (ABAX) recently received the U.S. Food and Drug Administration (FDA) approval to market its new C-Reactive Protein (CRP) assay in the United States. The new C-Reactive Protein assay is used by healthcare professionals in conjunction with Abaxis’ Piccolo Xpress point-of-care analyzer to conduct on-site chemistry analysis for conditions like infections, inflammatory diseases, tissue injury and few neoplastic processes. The on-site chemistry analysis takes only twelve minutes to complete the process.
It has been seen so that CRP is generally used by Rheumatologists in the detection and treatment of Rheumatoid Arthritis. In addition, the CRP test can be used in the detection and treatment of other afflictions like Colon Cancer, Non Hodgkin's Lymphoma, Atrial fibrillation, fever from bacterial infections, and Osteomyelitis.
The new product is an addition to Abaxis’ wide portfolio of general chemistry testing products. We think that the new product approval will improve Abaxis’ top-line. Abaxis’ CRP assays have already been in use in Europe and Asia Pacific for over six months as a standard test in general health screenings and as part of routine clinical practice.
Abaxis is a manufacturer of portable medical (human) and veterinary (animal) blood analysis systems. For medical use, the systems are marketed under the name “Piccolo" and measure metabolic, hepatic (liver), kidney, and renal (blood) function. Other uses include measuring electrolytes and cholesterol. The systems used for veterinary (animal) use are marketed under the name “VetScan" and used under the following animal profiles: avian/reptilian, large animal, mammalian (liver) and equine (horse). Other uses include a comprehensive diagnostic profile, as well as a thyroxine/ cholesterol test.
Presently, we have a Neutral recommendation on Abaxis.
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