QIAGEN's (QGEN) New Syndromic Test to Combat Monkeypox Spread
QIAGEN N.V. QGEN recently launched the QIAstat-Dx Viral Vesicular Panel RUO— the first syndromic test that can distinguish between monkeypox and five other pathogens causing similar symptoms. This launch is part of QIAGEN’s efforts to combat the spread of monkeypox, which has been recently declared a public health emergency by the World Health Organization (WHO) and the U.S. government.
This novel research use only (RUO) panel is available in cartridge form that can be run on QIAGEN’s QIAstat-Dx automated syndromic testing devices. The panel’s RUO-status indicates that it can only be used for the surveillance of monkeypox cases at present, and not for screening or diagnostics purposes. However, the company is prepared to make applications for clinical use if authorities in the United States and the European Union open new diagnostic pathways in response to the public health emergency.
Per management, surveillance is an essential tool in the fight against infectious diseases. In this regard, the novel QIAstat-Dx Viral Vesicular Panel, in combination with the QIAstat-Dx platform, will enable medical researchers to identify monkeypox using gold-standard PCR testing technology within almost an hour.
Applications of the New RUO Panel
The QIAstat-Dx Viral Vesicular Panel RUO tests for pathogens that produce similar-looking vesicular lesions, including the two known forms of monkeypox virus (the West African and Congo Basin clades), herpes simplex virus 1 (HSV1), HSV2, human herpesvirus 6 (HH6), varicella-zoster virus (VZV) and enterovirus. It also enables monkeypox detection in wastewater, a surveillance method that was useful during the COVID-19 crisis.
More on the News
The QIAstat syndromic testing solution adds to the company’s broad portfolio, which addresses all testing needs. The concept of syndromic testing has demonstrated its value, especially during the pandemic, with the launch of QIAstat-Dx Respiratory SARS-CoV-2 panel. The company also unveiled the high-throughput QIAstat-Dx Rise device, which can process up to 160 tests per day. Moreover, QIAGEN has expanded its syndromic testing to other areas, including gastrointestinal conditions and meningitis.
Industry Prospects
Per a report published in Research and Markets, the syndromic multiplex diagnostic market is expected to see a CAGR of nearly 7.2% during 2022-2027. Factors such as the increasing number of infectious cases and diseases and the growing incidence of side effects associated with the use of antibiotics can be attributable to market growth.
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Given the market prospects, QIAGEN’s latest launch seems well-timed.
Other Notable Developments
This month, QIAGEN expanded its next-generation sequencing portfolio with the launch of QIAseq Targeted DNA Pro Panels and the QIAseq UPXome RNA Library Kit. These new innovations established new standards in preparing samples for identifying their nucleic acid sequences. The QIAseq Targeted DNA Pro Panels halve the library preparation time required for sequencing samples. Meanwhile, the novel low-input kit for RNA sequencing lowers disposable plastics use by 90%.
In July 2022, the company introduced a series of enhancements for its QIAcuity series of digital PCR (dPCR) instruments to drive greater use among customers, particularly in the biopharma industry. The company added ten new QIAcuity Cell and Gene Therapy (CGT) dPCR Assays for quantification of adeno-associated virus titer and three novel QIAcuity Residual DNA Quantification Kits for checking carryover of host cell DNA. The company also released QIAcuity Software Suite with expanded functionality to support good manufacturing practice compliance.
Share Price Performance
The stock has outperformed its industry in the past year. It has lost 11.4% compared with the industry’s 36% fall.
Zacks Rank and Key Picks
Currently, QIAGEN carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space that investors can consider are AMN Healthcare Services, Inc. AMN, Molina Healthcare, Inc. MOH and Patterson Companies, Inc. PDCO.
AMN Healthcare has a long-term earnings growth rate of 3.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 15.7%, on average. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has outperformed its industry in the past year. AMN has gained 4.4% against the industry’s 30% fall.
Molina Healthcare has a long-term earnings growth rate of 16.4%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 3.2%, on average. It currently carries a Zacks Rank #2 (Buy).
Molina Healthcare has underperformed its industry in the past year. MOH has gained 23.7% against the industry’s 26.9% growth.
Patterson Companies has an estimated long-term growth rate of 7.9%. The company’s earnings surpassed estimates in all the trailing four quarters, the average beat being 16.5%. It currently flaunts a Zacks Rank #2.
Patterson Companies has outperformed its industry in the past year. PDCO has gained 0.6% compared with the industry’s 6.3% fall in the past year.
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