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GenMark Diagnostics announces the Emergency Use Authorization (EUA) from the FDA for its ePlex® Respiratory Pathogen Panel 2 (RP2 Panel). This rapid test identifies over 20 pathogens causing respiratory infections, including COVID-19 and flu, with results in under two hours. The RP2 Panel's multiplex testing is crucial for healthcare providers as flu season approaches, enabling effective treatment of coinfections and reducing unnecessary antibiotic use. The panel is also CE Mark approved in Europe, enhancing its clinical utility.
GenMark Diagnostics (NASDAQ: GNMK) announced preliminary Q3 2020 results, projecting a remarkable 104% year-over-year revenue growth, totaling approximately $42.6 million. ePlex revenue is estimated at $38 million, up 187% from Q3 2019, with an average annuity per analyzer of $193,000, an 82% increase. The company strengthened its global presence with 70 new ePlex analyzers, raising the installed base by 47%. Gross margin is expected between 38% and 39%, up from 34% last year. Full financial results will be released in late October.
GenMark Diagnostics has received the CE Mark for its ePlex® Respiratory Pathogen Panel 2 (RP2), allowing it to provide rapid testing for over 20 respiratory pathogens, including COVID-19 and influenza. The panel delivers results in under two hours, crucial for the upcoming flu season. A prior implementation at York Teaching Hospitals saved significant bed days, demonstrating its operational efficiency. The RP2 panel streamlines diagnostics, making it vital for healthcare systems amidst ongoing respiratory infections.
GenMark Diagnostics (NASDAQ: GNMK) announced participation in two upcoming investor conferences. The management team will present at the Canaccord 40th Annual Growth Conference on August 12, 2020, at 3:00 PM ET, with a live webcast available. They will also engage in one-on-one meetings at the Needham Med Tech and Diagnostics Conference on August 17, 2020; however, no webcast will be provided for this event. GenMark specializes in multiplex molecular diagnostic solutions to enhance patient care and reduce healthcare costs.
GenMark Diagnostics (NASDAQ: GNMK) will release its second quarter earnings on August 4, 2020, after market close. A conference call will follow at 1:30 p.m. PT to discuss financial performance, with a simultaneous webcast available on their website. GenMark specializes in multiplex molecular diagnostic solutions, enhancing patient care and reducing total care costs. Their eSensor technology supports various diagnostic tests efficiently, addressing infectious disease testing needs.
GenMark Diagnostics, Inc. (NASDAQ: GNMK) announced the U.S. commercial distribution of its ePlex® Respiratory Pathogen 2 (RP2) Panel, enabling rapid identification of 21 pathogens, including SARS-CoV-2, in under two hours. This panel streamlines testing by allowing hospitals to check multiple infections with a single test, potentially reducing hospital admissions by 8.4%. An Emergency Use Authorization (EUA) has been submitted for the panel, which is designed to enhance diagnostic efficiency, especially during peak respiratory illness seasons. GenMark continues to improve manufacturing capacity to meet demand.
GenMark Diagnostics (NASDAQ: GNMK) has been selected by Vidant Health as its primary provider of rapid diagnostic testing, deploying the ePlex® system across nine hospitals. This system tests for SARS-CoV-2 and other respiratory pathogens, offering results in under two hours. Vidant Health will implement the ePlex Respiratory Pathogen 2 (RP2) Panel, pending FDA Emergency Use Authorization (EUA). The partnership aims to enhance patient triage and prevent healthcare facilities from being overwhelmed, especially crucial during flu season.
GenMark Diagnostics (NASDAQ: GNMK) announced its participation in two upcoming investor conferences. Management will present at the William Blair 40th Annual Growth Stock Conference on June 10, 2020, at 12:20 a.m. ET, accessible via webcast at ir.genmarkdx.com. Additionally, GenMark will host virtual one-on-one meetings at the Raymond James Human Health Innovations Conference on June 16, 2020. GenMark specializes in multiplex molecular diagnostic solutions aimed at improving patient care and reducing healthcare costs.
GenMark Diagnostics (NASDAQ: GNMK) announced the successful closing of its public offering of 8,341,968 shares at $9.65 each, generating approximately $80.5 million in gross proceeds. This offering included full exercise of the underwriters’ option. Cowen and William Blair acted as book-running managers, with Canaccord Genuity as lead manager. The shares were registered under an effective shelf registration statement filed with the SEC. GenMark aims to enhance patient care and reduce healthcare costs through its innovative molecular diagnostics solutions.
GenMark Diagnostics (NASDAQ: GNMK) announced the pricing of its underwritten public offering of 7,253,886 shares at $9.65 each, aiming to raise approximately $70 million before expenses. The offering is set to close around May 11, 2020. The company has provided underwriters a 30-day option to purchase an additional 1,088,082 shares. Proceeds will support general corporate purposes, including working capital, R&D, and repayment of existing debts. Cowen and William Blair are leading the offering.
