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. (AXDX) generates news that spans product development in rapid in vitro diagnostics, regulatory milestones, financial performance, and significant corporate restructuring events. Company press releases describe a focus on solutions for antibiotic resistance and sepsis, with updates on platforms such as the Accelerate Pheno system, Accelerate PhenoTest ae BC kit, the FDA-cleared Accelerate Arc ae system and BC kit, and the development-stage Accelerate WAVE ae system.
News coverage frequently highlights clinical and regulatory progress. For example, the company has announced 510(k) clearance of the Accelerate Arc system and BC kit and the submission of the Accelerate WAVE system and Gram-negative positive blood culture test kit to the U.S. Food and Drug Administration for 510(k) clearance. Other releases describe successful pre-clinical and clinical trial milestones for the WAVE system, including performance data compared to broth microdilution reference methods and time-to-result metrics intended to support same-shift antimicrobial susceptibility reporting.
Financial news from Accelerate Diagnostics includes quarterly and full-year results, with details on net sales, gross margin, operating expenses, research and development spending, and net loss. The company has also reported on financing activities, such as debt issuances and debtor-in-possession financing commitments, as well as decisions about investor communications, including changes to its practice of hosting regular earnings conference calls.
A major theme in recent news is the companys Chapter 11 restructuring. Press releases and related SEC filings describe the voluntary Chapter 11 petitions filed in the United States Bankruptcy Court for the District of Delaware, a court-supervised sale process under Section 363 of the Bankruptcy Code, and an asset purchase agreement with an affiliate of Indaba Capital Management, L.P. Subsequent updates discuss court approval of the sale transaction, amendments to the asset purchase agreement, and confirmation of a Chapter 11 Plan of Liquidation that provides for cancellation of existing equity interests.
Visitors to this news page can review historical announcements on product clearances, trial results, financial performance, capital structure changes, and the progression of the Chapter 11 cases and asset sale. This context helps investors and observers understand how Accelerate Diagnostics diagnostic platforms and corporate structure have evolved over time.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
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.
Summary not available.
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.
FAQ
What is the current stock price of Accelerate Diagnostics (AXDX)?
What is the market cap of Accelerate Diagnostics (AXDX)?
