[ACCESSWIRE]
NEW YORK, NY / ACCESSWIRE / May 25, 2017 / SeeThruEquity, the leading independent equity research firm focused on smallcap and microcap public companies, today announced it has initiated coverage on Exactus, Inc. (OTCQB: EXDI)
with a 12 month price target of $1.60.
The report is available here: EXDI Initiation Report.
With headquarters in Richmond, VA, Exactus became a public company through a reverse merger transaction in March 2016, and shares are currently quoted on the OTCQB under the ticker EXDI. Exactus is a development stage company with an intriguing lineup of POC diagnostic solutions intended to improve the markets for fibrinolytic and cancer screening. The company is seeking to participate in the broader disruption of lab-based diagnostic tests, which require costly and time consuming processing, by fast-processing POC solutions. POC diagnostics represent a large and growing market, which is expected to grow from $15 billion in 2015 to $26.3 billion by 2021. Exactus appears to be poised for a steady flow of events over the next 12-18 months, with management in the process of advancing its pipeline and estimating an FDA 510(k) filing for its first diagnostic in 1H18.
Highlights from the report include:
Large opportunity for POC products
Exactus is pursuing a high growth area of the medical device and diagnostics market in POC diagnostics. POC diagnostic solutions represent a subset of the overall market for medical diagnostics, with potential to disrupt the $60 billion in vitro diagnostics market. POC diagnostics offer advantages to traditional lab-processed tests, including ease of administration, fast processing times, and lower costs. Considering these factors, among others, the POC diagnostics market is expected to grow from $15 billion in 2015 to $26.3 billion by 2021, according to Exactus' investor materials, representing a compounded annual growth rate of 9.8% over that time. Exactus' first two products, the FibriLyzer™ and the MatriLyzer™, represent opportunities of $1.7 billion (US + Europe) and $1+ billion, respectively, according to management, as diagnostics tools for Hyperfibrinolysis and early cancer recurrence detection.
FibriLyzer™ and MatriLyzer™ to offer impressive differentiation
One key area of differentiation for Exactus is that its initial products, the FibriLyzer™ and MatriLyzer™, are POC diagnostics that can generate results from only a drop of blood, saving time and cost versus current methods. Both are targeting large opportunities and appear to have disruptive potential. The FibriLyzer™, for example, is a device that is estimated to cost between $500 and $1,000, plus the cost of the diagnostic to assess the fibrinolytic status (ability to maintain blood clots) of patients with high accuracy in less than thirty seconds from a drop of blood – which compares favorably to current diagnostic devices that take a minimum of 20 minutes and have price tags above $10,000. Similarly, the MatriLyzer™ is designed as a tool for the early detection of metastasis, which is designed to allow at-risk patients the ability to conduct a low cost test at home, with mobile transmission of results to caregivers. By enabling early detection, the MatriLyzer™ may be a tool that can improve outcomes for at-risk cancer patients.
Initiate coverage with a price target of $1.60
We initiate coverage of Exactus with a price target of $1.60. The company represents an intriguing, speculative small company in the healthcare sector, with what it believes will be a disruptive product development pipeline targeting the large opportunity for POC diagnostic solutions for fibrinolytic and cancer screening.
Please review important disclosures at www.seethruequity.com.
About Exactus, Inc.
Exactus is a publicly traded life science company based in Richmond, Virginia that is developing and commercializing point-of-care (POC) diagnostics for measuring proteolytic enzymes in the blood. Exactus anticipates its lead product, the FibriLyzer™, will provide a simple and affordable means to assess the fibrinolytic status of patients in a broad range of applications and that the use of the FibriLyzer™ could provide the basis for improved management of patients who are at-risk of hemorrhage, speeding treatment decisions and potentially improving patient outcomes and saving money.
The company's second product candidate, the MatriLyzer™, may be used to detect the recurrence of cancer, and can be used as an at-home monitoring device or during routine office visits. The appearance of elevated levels of collagenase, the enzyme that degrades collagen, have been proven to be an early hallmark of cancer. The MatriLyzer™ can communicate directly with the attending oncologist via a smart phone application to ensure that (i) the tests are being used properly and (ii) when collagenase levels are elevated signaling the need for the patient to have a more thorough examination. http://www.exactusinc.com/.
About SeeThruEquity
Since its founding in 2011, SeeThruEquity has been committed to its core mission: providing impactful, high quality research on underfollowed smallcap and microcap equities. SeeThruEquity has pioneered an innovative business model for equity research that is not paid for and is unbiased. SeeThruEquity is the host of acclaimed investor conferences that are the ultimate event for publicly traded companies with market capitalizations less than $1 billion.
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