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Accelerate Diagnostics, Inc. (NASDAQ: AXDX) is a prominent in vitro diagnostics company that focuses on developing and commercializing innovative systems for the rapid identification and antimicrobial susceptibility testing (AST) of infectious pathogens. The company’s cutting-edge platform, the Accelerate ID/AST System, utilizes a proprietary process combining genomic and phenotypic detection technologies, significantly reducing the time to results while maintaining high sensitivity and specificity.
One of Accelerate Diagnostics' key products is the Accelerate Pheno® system and the accompanying PhenoTest® BC kit, which automate the sample preparation steps and provide phenotypic antibiotic susceptibility results directly from positive blood cultures in approximately seven hours. This is 1–2 days faster than traditional methods, allowing clinicians to optimize antibiotic selection and dosage for individual patients much sooner.
The company has also developed the Arc™ system, an automated positive blood culture sample preparation platform that collaborates with Bruker Corporation's MALDI Biotyper® sirius instruments, streamlining microbial identification without overnight culture incubation. This system is currently undergoing validation for registration in the US and EMEA markets.
In addition to its diagnostic systems, Accelerate Diagnostics owns and licenses its proprietary OptiChem™ surface coatings technology, which has diverse applications in bio-analytical systems such as microarrays.
Financially, the majority of Accelerate Diagnostics’ revenue comes from the domestic market. The company has been investing heavily in the development of its next-generation rapid AST system, Accelerate Wave™, and has planned clinical trials for this innovative system for mid-2024. Recent financial announcements indicate the company has been successful in forming strategic partnerships, expanding its customer base, and securing long-term contracts.
With an unwavering commitment to addressing global challenges like antibiotic resistance and sepsis, Accelerate Diagnostics continues to lead the market with rapid, reliable, and cost-effective diagnostic solutions, ensuring better patient outcomes and reducing healthcare costs.
Accelerate Diagnostics, Inc. (NASDAQ: AXDX) announced a conference call on November 9, 2021, at 4:30 PM ET to discuss its third-quarter financial results for 2021. The call will review financial performance and operational updates, providing insights to investors and stakeholders. For audio webcasting, participants can visit ir.axdx.com. A replay will be available until February 9, 2022. The company focuses on combating antibiotic resistance and sepsis with its cutting-edge Accelerate Pheno® system.
Accelerate Diagnostics, Inc. (Nasdaq: AXDX) announced agreements to exchange approximately $51 million in principal amount of its 2.50% Convertible Senior Notes due 2023 for common stock. Notably, about $46 million of the Notes will yield 5,945,718 shares, while about $5 million will result in 106,732 shares plus additional shares based on a formula related to the volume-weighted average price. The transactions are set to close by October 15, 2021.
Accelerate Diagnostics, Inc. (Nasdaq: AXDX) reported Q2 2021 financial results, revealing a 32% increase in net sales to $2.8 million, driven by a 35% rise in consumable revenue. However, gross margin declined to 38% from 45% due to increased manufacturing costs. The company recorded a net loss of $21.7 million or $0.36 per share. Year-to-date, net sales reached $5.3 million, an 18% increase year-over-year. Total cash reserves amounted to $68.8 million, following ongoing cost management strategies.
Accelerate Diagnostics (NASDAQ:AXDX) announces the CE marking of its new IVD configuration of the Accelerate PhenoTest® BC kit, now ready for use in Europe. This expansion follows its U.S. launch in July and provides fast antimicrobial susceptibility testing results in approximately 7 hours from positive blood cultures. The Pheno system has shown to improve clinical outcomes, including reduced hospital stays. The new configuration offers flexible workflow options for diverse laboratory settings across Europe.
Accelerate Diagnostics (NASDAQ: AXDX) announced a conference call for August 5, 2021, at 4:30 p.m. ET to discuss its second quarter financial results for 2021. Interested parties can access the audio webcast online or by phone. The replay of the call will be available until August 26, 2021. The company specializes in in vitro diagnostics, focusing on antibiotic resistance and sepsis, through its Accelerate Pheno® system. This system enables faster antibiotic susceptibility results, which could optimize patient care significantly.
Accelerate Diagnostics, Inc. (NASDAQ: AXDX) has launched a new in vitro diagnostics (IVD) configuration of its Accelerate PhenoTest® BC kit in the United States. This expansion offers fast antimicrobial susceptibility testing (AST) results in approximately 7 hours from positive blood cultures. The new configuration aims to enhance clinical outcomes by reducing the time to optimal therapy. The company plans to release this AST configuration in Europe, the Middle East, and Hong Kong later this summer, reinforcing their commitment to combating antibiotic resistance and improving sepsis treatment.
Accelerate Diagnostics, Inc. (NASDAQ:AXDX) announced three data presentations from its Improving Outcomes and Antibiotic Stewardship (IOAS) Study at the European Congress of Clinical Microbiology & Infectious Diseases (ECCMID), occurring July 9–12, 2021. The study evaluates the Accelerate Pheno system's impact on bloodstream infection treatment across multiple hospitals. Key findings include a statistically significant reduction in 30-day mortality (6.0% in AXDX vs. 15.9% in SOC) for patients receiving ineffective empirical treatment. The presentations highlight improved microbiology test turnaround times and antimicrobial use.
Accelerate Diagnostics (NASDAQ: AXDX) will participate in the William Blair 41st Annual Growth Stock Conference on June 3, 2021, at 12:00 p.m. Central Time. CEO Jack Phillips and CFO Steve Reichling will present virtually, and a live audiocast will be available on the company's investor relations website. The company specializes in in vitro diagnostics, focusing on solutions for antibiotic resistance and sepsis, with its Accelerate Pheno® system providing faster results for antibiotic susceptibility testing.
Accelerate Diagnostics, Inc. (AXDX) announced its Q1 2021 financial results, reporting net sales of $2.5 million, an 8% increase from Q1 2020. The company added 2 contracted instruments, ending with 274 revenue-generating instruments in the U.S. However, instrument revenue fell, while consumables rose by 16%. Gross margins dropped to 36% from 45% due to pandemic-related costs. Net loss was $24.2 million or $0.41 per share. SG&A costs increased to $14.0 million, but adjusted costs decreased. The company closed on the first of three $10.7 million financing tranches.
Accelerate Diagnostics, Inc. (Nasdaq: AXDX) will host a conference call on May 6, 2021, at 4:30 p.m. Eastern Time to discuss its 2021 first quarter financial results. Interested participants can join by phone at +1.877.883.0383, entering Elite Entry Number: 4747452, or listen via webcast at ir.axdx.com. A replay will be accessible via phone and the website until August 6, 2021, and May 27, 2021, respectively. Accelerate Diagnostics focuses on solutions for antibiotic resistance and sepsis through its FDA-cleared systems that expedite antibiotic susceptibility testing.
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