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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.
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Accelerate Diagnostics, Inc. (Nasdaq: AXDX) will present at the 40th Annual J. P. Morgan Healthcare Conference on January 13, 2022, at 9:45 a.m. Eastern Time. A live webcast of the presentation will be available online. The company specializes in in vitro diagnostics, focusing on antibiotic resistance and sepsis. Its Accelerate Pheno® system reports antibiotic susceptibility results in about 7 hours, significantly faster than traditional methods. This advancement supports clinicians in optimizing patient-specific antibiotic therapy.
Accelerate Diagnostics, Inc. (NASDAQ: AXDX) published a multi-center study in Clinical Infectious Diseases, highlighting the impact of the Accelerate Pheno system on treating bloodstream infections. The study found a 17.2-hour reduction in optimal antimicrobial therapy time and a 1-day decrease in hospital stays for Gram-negative infections. Significant improvements in mortality rates and antimicrobial management were also reported. CEO Jack Phillips emphasized the system's value in healthcare, which aligns with over 70 previous studies demonstrating its efficacy.
Accelerate Diagnostics (AXDX) reported preliminary Q3 2021 results, showing a net sales decline to $3.1 million, down 13% from Q3 2020. Despite a challenging COVID environment impacting commercial execution, the company gained three contracted instruments, ending with 304 revenue-generating instruments. Gross margin decreased to 32% due to inflation in manufacturing costs. Year-to-date net sales rose to $8.4 million, a 5% increase. However, net loss year-to-date was $54.9 million, or $0.91 per share. Total cash reserves stood at $57 million, reduced outstanding debt by 30% during the quarter.
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.