Welcome to our dedicated page for Accelerate Diagnostics news (Ticker: AXDX), a resource for investors and traders seeking the latest updates and insights on Accelerate Diagnostics stock.
Accelerate Diagnostics, Inc. (NASDAQ: AXDX) delivers innovative solutions for rapid infectious disease testing through its proprietary diagnostic platforms. This page provides investors and healthcare professionals with essential updates on company developments, financial performance, and technological advancements in antimicrobial susceptibility testing.
Access the latest press releases, earnings reports, and regulatory milestones related to AXDX's FDA-cleared systems. Our curated news collection helps stakeholders track progress in combating antibiotic resistance and improving sepsis management through accelerated diagnostics.
Key updates include product launch announcements, partnership developments, and clinical study results for platforms like the Accelerate Pheno® system. All content is verified through primary sources to ensure accuracy and relevance for investment research and clinical decision-making.
Bookmark this page for streamlined access to Accelerate Diagnostics' official communications. Check back regularly for real-time updates on innovations shaping the future of rapid in vitro diagnostics.
Accelerate Diagnostics, Inc. (Nasdaq: AXDX) reported its fourth quarter and full year 2022 financial results, revealing a 9% decline in net sales at $3.0 million compared to Q4 2021. This decrease was attributed to capital equipment sales timing, despite an 8% increase in recurring revenues. The company’s gross margin fell to 28%, down from an adjusted 35% in Q4 2021, influenced by rising manufacturing costs. Total net loss for Q4 was $14.6 million, or $0.15 per share. Year-to-date, net sales rose by 8% to $12.8 million. R&D investments rose to $26.9 million amid efforts on a new AST platform. The firm ended 2022 with $45.6 million in cash and equivalents.
Accelerate Diagnostics (NASDAQ:AXDX) announced the resignation of CFO Steve Reichling, effective March 31, 2023, after over a decade with the company. Reichling played a critical role in the company's public offering and financial strategy. David Patience, previously Senior Director of Business Development and Strategic Finance, will assume the CFO position on April 1, 2023. Patience has a strong background in financial analysis and operational strategy, which is expected to aid the company's continued growth. Reichling will remain with the company in a consulting capacity through the end of 2023.
Accelerate Diagnostics, Inc. (NASDAQ: AXDX) has appointed Hany Massarany as chairman of its board of directors, effective February 22, 2023. Massarany succeeds John Patience, who served for 10 years and will remain on the board. Massarany, previously CEO of GenMark Diagnostics, brings extensive experience in diagnostics and infectious disease testing. CEO Jack Phillips expressed confidence in Massarany's leadership to enhance market share and innovation in rapid identification and antimicrobial susceptibility testing. The company also announced the retirement of board members Mark Miller and Frank ten Brick.
Accelerate Diagnostics, Inc. (NASDAQ: AXDX) announced the submission of a 510(k) application to the FDA for Gram-negative menu expansion and breakpoint updates for its Accelerate PhenoTest® BC kit. This includes new escalation and de-escalation agents for Gram-negative organisms and antibiotic options for Acinetobacter baumannii. These updates aim to enhance patient discharge processes by providing more effective antibiotic choices, expediting optimal therapy for bloodstream infections. CEO Jack Phillips emphasized the clinical value of these improvements for healthcare facilities.
