Biometric technology has become an extremely hot commodity within the tech world. Utilizing different biometric systems to authenticate users and provide an extra layer of security for everything ranging from e-commerce to healthcare has a strong place in the tech industry. From a healthcare standpoint, we are seeing a surge in popularity for wearable medical devices.
A study from the World Health Organization (WHO) showed that cardiovascular disease and strokes are the #1 leading worldwide primary cause of death. Just in the U.S. almost 1.5 million people per year suffer from cardiac arrest and more than 250,000 people die within the first hour of an attack.
Unfortunately, almost 50% of those people do not show any signs or symptoms until it’s too late. This is why companies like Lexington Biosciences, Inc. (LXGTF) are trying to put a dent into those numbers.
This Cardiovascular Diagnostic Medical Device. trend isn’t slowing down either. According to MarketsandMarkets the wearable medical device market is estimated to reach $12.14 billion by 2021 that’s a $6.83 billion dollar increase from 2016, with a CAGR of 18%. The growth is propelled by technological advancements, a growing number of smartphone health apps such as the Apple Watch, and Fitbit, on top of a wide increase in overall health awareness.
With the case of Lexington Biosciences, Inc. (LXGTF), the company is developing HeartSentry, a new non-invasive Cardiovascular Diagnostic Medical Device to measure and monitor cardiovascular health. The company recently announced Monday (10/23/17) that it has received its first HeartSentry human-use units.
Lexington Biosciences, Inc. (LXGTF)‘s President Eric Willis stated, “We are delighted to take delivery of these first HeartSentry human-use units from our manufacturer. The design and production team have worked for nine months to perfect the HeartSentry technology and device design, and we have achieved a significant milestone by moving the HeartSentry out of the lab and into a hand-held mobile unit ready for clinical trials.”
To support this excitement, momentum has picked up in the market during October. Since the start of the month, (LXGTF) has seen an increase in price per share of over 45%. This is a move from lows on October 2nd of $0.2918 to Friday’s (10/27) closing price of $0.425.
Lexington Bioscience has created a platform to capitalize on a niche in a growing industry. For those who looking for a potential near term opportunity, timing can be key right now asLexington could be showing opportunity with this technology aimed at becoming much more dynamic than what the current market offers.
The market is beginning to take notice and for good reason. The fact that the company’s latest news suggests that (LXGTF) is ramping up for something much bigger than a simple trial of its device could be a clear view of the overall potential of the company. These are human-use units and will allow(LXGTF) the ability to commence study enrollment in upcoming HeartSentry clinical study in order to gather the foundational dataset aimed at supporting FDA clearance.
That means early onlookers are seeing this company prior to any tests or approvals. If or when that happens, could you imagine what may happen next especially with the building market that’s driving wearable tech?
Lexington is currently taking steps to commercialize a universal, simple, effective and revolutionary technology for personalized measurement and monitoring of vascular health to prevent cardiovascular disease at its earliest stages.
The unit is designed to utilize Bluetooth and Cloud technology to provide up-to-date and accurate readings of an individual’s complete cardiovascular health via electronic monitoring for risk-assessment and treatment effectiveness targeting the prevention of heart attack and stroke.
Since heart attacks and strokes are mainly caused by a blockage that prevents blood from flowing to the heart or brain, (LXGTF)’s HeartSentry could be a game changer when it comes to early detection and/or prevention.
People with cardiovascular disease or who are at high cardiovascular risk need early detection. In the World Health Organization’s own words, “A total-risk approach needs to be adopted for early detection.”
Now, (LXGTF) has not only received its trial units but has already outlined the fact that they are preparing for upcoming HeartSentry clinical studies that could ultimately support FDA clearance. In the event that this happens, those who are looking at (LXGTF) early, could be in position to capitalize.
Obviously time will tell but by the look of the mounting attention that this latest announcement has spurred, it would appear that the street has steadily begun to turn its attention to (LXGTF)’s Cardiovascular Diagnostic Medical Device.
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