Zacks_Analysts' Blog : Luminex Hosting Planet xMAP - Analyst Blog

Luminex Corporation (LMNX), a developer of biological testing technologies, will host its annual European multiplexing technology symposium in Vienna, Austria, on September 28-29. The event, called “Planet xMAP Europe 2011,” will feature scientific sessions, workshops, discussion groups and exhibitions, among others.

Scientists and researchers across the planet who have been conducting clinical diagnostics and life science research using the company’s popular Luminex xMAP multiplexing platform will gather and exchange ideas on this breakthrough technology at the annual symposium.

Luminex noted that focused areas of Planet xMAP Europe 2011 will include pathogen detection, immunology-monitoring, human genetics, protein and nucleic acid research.

The event will feature two days of presentations with focused sessions. The focused areas on the first day (or September 28) will be pathogen detection, the xTAG Gastrointestinal Pathogen Panel (“GPP”) molecular test, immunology-monitoring and human genetics. The second day (or September 29) will focus on genomic and protein research.

The cynosure of the symposium will be the xTAG GPP molecular diagnostic platform. Luminex received the European CE mark approval for xTAG GPP in May 2011. Based on the company’s proprietary xMAP multiplexing platform, the novel molecular test allows fast and simultaneous detection of 95% of bacterial, viral and gastroenteritis pathogens in a single test. xTAG GPP was used to detect the outbreak-causing E. coli strain (Shiga toxin producing E. coli/STEC strain) in Germany.

Texas-based Luminex develops and markets proprietary biological testing technologies, which have applications across the life sciences industry. Its proprietary open-architecture xMAP technology enables fast, cost-effective and accurate conduct and analyses of biological tests (bioassays). The company competes with Affymetrix (AFFX) and Sequenom (SQNM), among others.

Luminex continues to expand its xMAP technology-based installed instrument base. The company shipped 248 analyzers (including 62 MAGPIX analytical instruments) in second- quarter 2011, resulting in total shipments of 8,145 analyzers, up 13% year over year.

Luminex possesses an extensive product portfolio and a healthy pipeline of novel assays, which are expected to support growth going ahead. However, the company is challenged by sluggish growth in its core markets, faces regulatory uncertainties, and depends heavily on partners to market its instruments and assays, a strategy that has inherent risks. We are currently Neutral on the stock.