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Accelerate Diagnostics, Inc. develops rapid in vitro diagnostics for microbiology, with products aimed at sepsis, antibiotic resistance, microbial identification and antimicrobial susceptibility testing. Company updates center on FDA-cleared systems such as the Accelerate Arc system and BC kit, the Accelerate Pheno system and Accelerate PhenoTest BC kit, and regulatory submissions for the Accelerate WAVE system and related positive blood culture test menus.
Recurring disclosures also cover operating results, consumable product sales, Pheno instrument activity, customer contract activity, research and development spending for WAVE, cash resources, financing arrangements and capital-structure matters. Corporate-status updates include the company’s Chapter 11 proceedings and trading-status changes for its common stock.
Accelerate Diagnostics, Inc. (Nasdaq: AXDX) reported preliminary financial results for the first quarter of 2024, highlighting the installation of their pre-clinical trial site and progress in developing the Accelerate Wave™ system. The company secured contract extensions with strategic customers and added new Pheno instruments in the US. Despite a slight increase in sales, there was a decline in gross margin due to product sales mix. Operating costs reduced significantly, leading to a net loss of $17.0 million for the quarter.
Accelerate Diagnostics, Inc. (NASDAQ: AXDX) will host a conference call on May 8, 2024, at 4:30 p.m. ET to review the 2024 first quarter results. The call can be accessed online or by phone, with a replay available for 30 days. International participants can also join the call.
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