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GenMark Diagnostics (Nasdaq: GNMK) reported significant financial results for 2020, achieving total revenue of $171.6 million, a 95% increase from 2019. The ePlex® platform contributed $152.6 million, growing by 155%. Gross margins improved to 40% from 32% in the previous year. In Q4 2020, revenue reached $50.1 million, up 84% year-over-year. The company placed 70 new ePlex analyzers, totaling 792 globally. For 2021, GenMark anticipates revenue between $188 million and $198 million, with 200 to 220 new analyzer placements and gross margins expected between 44% and 46%.
GenMark Diagnostics (NASDAQ: GNMK) announced its ePlex Respiratory Pathogen Panel 2 (RP2) is capable of detecting currently circulating SARS-CoV-2 variants. The company conducts ongoing bioinformatics analyses to ensure detection across various mutations in viral genomes. The ePlex RP2 Panel is designed for rapid diagnosis of respiratory pathogens, providing results for over 20 viruses, including COVID-19. Additionally, GenMark supports the Tracking COVID Variants Act, aimed at enhancing CDC funding for molecular detection technologies. This initiative could allocate up to $1.75 billion for improved genetic surveillance.
GenMark Diagnostics (NASDAQ: GNMK), a leader in automated multiplex molecular diagnostics, announces participation in the Cowen 41st Annual Health Care Conference on March 1, 2021, at 2:00 p.m. ET. The event will be virtual, and interested parties can access the live and archived webcast on their investor relations site.
GenMark specializes in enhancing patient care and reducing healthcare costs through its proprietary eSensor® technology. Their systems, such as the eSensor XT-8® and ePlex®, address diverse infectious disease testing needs.
GenMark Diagnostics (NASDAQ: GNMK) announced a study published in Frontiers in Cellular and Infection Microbiology that reveals ePlex Blood Culture Identification (BCID) Panels could have modified antimicrobial treatment in 45% of patients with bloodstream infections. The study indicated an overall sensitivity of 98%, emphasizing the necessity for timely diagnoses in septic patients. The ePlex BCID Panels, the broadest FDA-cleared panels, identify 60 organism targets and 10 resistance genes, facilitating faster treatments and reducing antibiotic resistance.
GenMark Diagnostics (NASDAQ: GNMK) has announced it will release its fourth quarter and full year earnings results on February 25, 2021, after market close. A conference call to discuss the financial performance will be held at 4:30 p.m. ET, which will also be available via webcast. GenMark specializes in multiplex molecular diagnostic solutions aimed at enhancing patient care and reducing healthcare costs, utilizing its proprietary eSensor® technology across a range of infectious disease tests.
GenMark Diagnostics (NASDAQ: GNMK) reported strong preliminary financial results for the year ended December 31, 2020, with total revenue anticipated at approximately $171 million, a 95% increase from 2019. ePlex revenue is projected at $152 million, a 155% increase. The fourth quarter revenue is expected to be around $50 million (up 84% year-over-year), with ePlex contributing approximately $45 million (up 138%). Gross margins are expected to be around 39%.
The company placed 70 new ePlex analyzers in Q4, growing their installed base 50% year-over-year.
GenMark Diagnostics, Inc. (NASDAQ: GNMK) announced its participation in two investor conferences. Management will present at the 39th Annual J.P. Morgan Healthcare Conference on January 12, 2021, at 5:20 p.m. ET, and at the 23rd Annual Needham Growth Conference on January 14, 2021, at 5:00 p.m. ET. Both presentations will be available via live and archived webcasts at ir.genmarkdx.com. GenMark specializes in multiplex molecular diagnostic solutions aimed at enhancing patient care and reducing healthcare costs through innovative testing systems.
GenMark Diagnostics, Inc. (NASDAQ: GNMK) will participate in the Canaccord Virtual MedTech & Diagnostics Forum on November 19, 2020, at 2:00 p.m. ET. The event will be accessible via live and archived webcasts at ir.genmarkdx.com.
GenMark specializes in automated multiplex molecular diagnostic testing systems, aiming to enhance patient care and reduce costs. Their eSensor XT-8® and ePlex® systems provide efficient solutions for a variety of infectious disease tests. For additional details, visit www.genmarkdx.com.
GenMark Diagnostics reported robust financial results for Q3 2020, with total revenue reaching $42.6 million, a 104% increase from Q3 2019. ePlex® revenue soared to $38.0 million, up 187% year-over-year. The average annuity per analyzer improved by 82% to $193,000, while gross margin increased to 39%.
The company also reported $137.3 million in cash and investments, marking a $4.5 million increase. GenMark raised its full-year revenue guidance to $165 million to $168 million, driven by the strong performance of its ePlex Respiratory Pathogen Panel 2, which gained Emergency Use Authorization.
GenMark Diagnostics (NASDAQ: GNMK) plans to release its third quarter earnings results on October 28, 2020, after market close. A conference call will take place at 1:30 p.m. PT / 4:30 p.m. ET to discuss financial performance. The call will be available via webcast on GenMark's website, and interested parties can join by calling designated numbers with a conference ID. GenMark specializes in multiplex molecular diagnostic solutions, enhancing patient care and reducing costs through its eSensor technology.
