NASDAQ OMX

Accelerate Diagnostics Reports 191 Instruments Under Contract and 3x Revenue Growth for First Quarter 2017

Dela

TUCSON, Ariz., May 03, 2017 (GLOBE NEWSWIRE) -- Accelerate Diagnostics, Inc. today announced preliminary financial results for the quarter ending March 31, 2017 including signed customer evaluation contracts covering 169 instruments, 22 additional instruments converted into revenue generating placements, and revenue growth exceeding 325% of the same period in the prior year.

Net sales for the first quarter 2017 was $530,000 compared to $163,000 in the first quarter of 2016. The increase was driven by capital sales of the Accelerate Pheno(TM) system in the United States and sales of the Accelerate PhenoTest(TM) BC kit across the U.S. and Europe.

"We're excited to see this early momentum as it confirms the need for faster, more complete answers in the fight for life against serious infections," said Lawrence Mehren, President and CEO. "While there is more work to be done, we believe the initial uptake of the system sets us apart from recent IVD launches in microbiology."

The company was also awarded a public tender certification to supply its solution to Union des Groupements d'Achats Publics (UGAP), the largest public hospital purchasing group in France. The certification allows all French public hospitals access to acquire the system without additional tenders.

President and Chief Executive Officer, Lawrence Mehren, and Chief Financial Officer, Steve Reichling, will host a conference call to review the results at 4:15 p.m. Eastern Time on May 3, 2017.

Preliminary first quarter 2017 results

  • Net sales of $530,000 compared to $163,000 in first quarter of 2016
  • Gross margin realized was 95% due to instrument inventory sold within the first quarter 2017 previously recorded as research and development (R&D) expense
  • Selling, general, and administrative expenses of $10.5 million, compared to $7.7 million in the prior year period, driven by personnel related costs within U.S. and European Sales and Marketing organizations
  • R&D expenses for the first quarter of $4.3 million, down from $7.7 million in the first quarter of 2016 due to lack of clinical trial and pre-launch inventory costs incurred in the prior year period
  • Net loss of $14.2 million, or $0.27 per share on weighted average basic shares outstanding of 51.9 million shares, which contained $3.4 million in non-cash stock-based compensation expense
  • Net cash used for operations was $9.3 million ending the quarter with cash, cash-equivalents, and short-term investments of $63.9 million

Full financial results for the quarter ending March 31, 2017 will be filed on Form 10-Q through the Securities and Exchange Commission's (SEC) website at http://www.sec.gov. The company anticipates filing on May 5th. Investors are cautioned not to place undue reliance on these preliminary estimates in the event of material changes.

Conference Call

The conference call will begin at 4:15 p.m. Eastern Time (1:15 p.m. Pacific Time) on May 3, 2017. The live teleconference of the call can be accessed through the company's website at http://ir.axdx.com.

To participate in the conference call, dial +1.877.883.0383 and enter the conference ID: 3295266. International participants may dial +1.412.902.6506. Please dial in 10-15 minutes prior to the start of the conference. A replay of the call will be available by telephone at +1.877.344.7529 (U.S.) or +1.412.317.0088 (international) using access code 10105794 until May 17, 2017.

About Accelerate Diagnostics, Inc.

Accelerate Diagnostics, Inc. (Nasdaq:AXDX), is an in vitro diagnostics company dedicated to providing solutions for the global challenge of antibiotic resistance and healthcare-associated infections. The company's Accelerate Pheno(TM) system and Accelerate PhenoTest(TM) BC kit were recently cleared by the FDA for antimicrobial susceptibility testing direct from positive blood culture samples. The solution leverages proprietary molecular identification methods and morphokinetic cellular analysis (MCA) to provide minimum inhibitory concentrations for a range of applicable antibiotics.  The fully-automated system is designed to eliminate the lengthy culture and sample preparation steps required prior to antimicrobial susceptibility testing. Recent market studies suggest the solution offers results 1-2 days faster than conventional methods, enabling clinicians to optimize antibiotic selection, dosage, and infusion strategy specific to the individual patient and their infection.

The "ACCELERATE DIAGNOSTICS" and "ACCELERATE PHENO" and "ACCELERATE PHENOTEST" logos and marks are trademarks or registered trademarks of Accelerate Diagnostics, Inc.

For more information about the company, its products or technology, visit axdx.com.

Forward-Looking Statements

Certain of the statements made in this press release are forward looking, such as those, among others, about our projections as to market need, acceptant and integration of our products. Actual results or developments may differ materially from those projected or implied in these forward-looking statements. Information about the risks and uncertainties faced by Accelerate Diagnostics is contained in the section captioned "Risk Factors" in the company's most recent Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 28, 2017, and in any other reports that we file with the Securities and Exchange Commission from time to time. The company's forward-looking statements could be affected by general industry and market conditions. Except as required by federal securities laws, the company undertakes no obligation to update or revise these forward-looking statements to reflect new events, uncertainties or other contingencies.

Investors May Contact:
Laura Pierson, Accelerate Diagnostics, +1 520 365-3100, investors@axdx.com

Reporters May Contact:
Andrew Chasteen, Accelerate Diagnostics, +1 520 365-3100, achasteen@axdx.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Accelerate Diagnostics, Inc. via Globenewswire

Om

NASDAQ OMX
NASDAQ OMX



Följ NASDAQ OMX

Abonnera på våra pressmeddelanden.

Senaste pressmeddelandena från NASDAQ OMX

Mandalay Resources Corporation Files Audited Fourth Quarter and Full-Year 2017 Financial Statements23.2.2018 04:06Pressmeddelande

TORONTO, Feb. 22, 2018 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation ("Mandalay" or the "Company") (TSX:MND) today filed its audited financial results for the year-ended December 31, 2017. The Company's condensed and consolidated financial results for the year ended December 31, 2017, together with its Management's Discussion and Analysis ("MD&A") for the corresponding period are available under the Company's profile on www.sedar.com and on the Company's website at www.mandalayresources.com. For Further Information: Mark Sander President and Chief Executive Officer Greg DiTomaso Director of Investor Relations Contact: 1.647.260.1566 About Mandalay Resources Corporation: Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia and Sweden, and care and maintenance and development projects in Chile. The Company is focused on executing a roll-up strategy, creating critical mass by aggregating advanced or in production gold, copper, silver and

Aurora Solar Technologies Named to TSX Venture 5022.2.2018 21:29Pressmeddelande

Aurora Solar Technologies Inc. / Aurora Solar Technologies Named to TSX Venture 50 . Processed and transmitted by Nasdaq Corporate Solutions. The issuer is solely responsible for the content of this announcement. NORTH VANCOUVER, British Columbia, Feb. 22, 2018 (GLOBE NEWSWIRE) -- Aurora Solar Technologies Inc. ("Aurora")("Company")(TSX.V:ACU) (OTCBB:AACTF) (FSE:A82), a leader in inline measurement and control technology for the photovoltaic manufacturing industry, is pleased to announce that it has been named to the 2018 TSX Venture 50. The Venture 50 are the top ten companies listed on TSX Venture Exchange in each of five major industry sectors - mining, energy & energy services, clean technology & life sciences, diversified industries and technology - based on a ranking formula with equal weighting given to return on investment, market cap growth, trading volume and analyst coverage. All data was as of December 31, 2017. Michael Heaven, President, CEO, and Director of Aurora Solar T

CP Kelco Appoints Jennifer Aspen Mason as Sr. Vice President, Global Innovation22.2.2018 20:00Pressmeddelande

ATLANTA, Feb. 22, 2018 (GLOBE NEWSWIRE) -- CP Kelco, a leading global producer of specialty hydrocolloid solutions, announced today that Jennifer Aspen Mason has joined its Executive Leadership Team as Senior Vice President, Global Innovation, reporting directly to CP Kelco President Didier Viala. A global executive with more than 20 years of industry experience, Mason has an extensive background leading science organizations with Fortune 100 companies. Most recently, she spent more than five years with Mars, Incorporated, where she served as Technology and Science Strategy Officer for all Mars segments. In her new role, Mason is responsible for leading CP Kelco's global research and development (R&D) function, including strategic innovation imperatives to drive the company's long-term growth, as well as oversight of technical teams focused on new product innovation, process R&D and research. "We are truly delighted to welcome Jennifer to our team, and will surely benefit from her glob

Leading the industry: Excel Dryer is the first hand dryer manufacturer to publish third-party, verified Environmental Product Declarations (EPDs)22.2.2018 16:00Pressmeddelande

High-speed, energy-efficient XLERATOR®, XLERATOReco® and ThinAir® Hand Dryers evaluated and proven to be sustainable EAST LONGMEADOW, Mass., Feb. 22, 2018 (GLOBE NEWSWIRE) -- Excel Dryer, Inc., today announced that three of their hand dryers, the original, patented, high-speed, energy-efficient XLERATOR® Hand Dryer, the XLERATOReco® Hand Dryer and the ThinAir® Hand Dryer, were evaluated, and their environmental claims, substantiated with the publication of the hand dryer industry's first Environmental Product Declarations (EPDs) by UL Environment, a business division of Underwriters' Laboratories. An Environmental Product Declaration is a standardized way of quantifying the environmental impact of a product by studying the raw materials and energy consumption during its production, use and disposal. For buyers and specifiers, the EPDs are a disclosure tool that helps purchasers better understand a product's sustainable qualities and environmental repercussions so they can make more inf

Intrinsyc Technologies (TSX: ITC and OTC: ISYRF) debuts system on module and development kit powered by NXP i.MX 8M processor22.2.2018 15:00Pressmeddelande

Powerful Embedded Computing Solutions Optimized for Multimedia Applications VANCOUVER, British Columbia, Feb. 22, 2018 (GLOBE NEWSWIRE) -- Intrinsyc Technologies Corporation (TSX:ITC) (OTC:ISYRF) ("Intrinsyc" or the "Company"), a leading provider of solutions for the development and production of embedded and Internet of Things ("IoT") products, today announced the availability of the Open-X(TM) 8M System on Module ("SOM") and Development Kit. Intrinsyc's Open-X(TM) 8M SOM incorporates the new 64-bit NXP i.MX 8M processor and is ideal for powering IoT devices ranging from consumer smart home appliances to industrial building automation products. Its ultra-compact (55mm x 35mm) size enables its use in a wide range of form factors. The feature-rich SOM, with its advanced video and audio features, is ideal for streaming video/audio devices, voice control applications, and human-machine interface solutions. It offers high quality video playback with full 4K UHD and HDR along with the highe

Danal Inc. Creates Largest and Best Global Mobile Identity Solution22.2.2018 14:00Pressmeddelande

On track to cover 3 Billion+ Consumers SAN JOSE, Calif., Feb. 22, 2018 (GLOBE NEWSWIRE) -- Danal, Inc., a global leader in mobile identity and authentication services, today announced that customer demand is driving its expansion into Asia and LATAM. The company is expanding to eight countries in Asia and LATAM this year in addition to its continued expansion in Europe and UK - creating the largest and most comprehensive Mobile Network Operator (MNO) based identity solution in the market. It is on track to cover over 3 Billion consumers worldwide and support numerous Fortune 500 Enterprises in their endeavor to fight fraud, account takeovers, assuring reliable consumer authentication with best in class experiences, and help conform to regulatory compliance including GDPR, TCPA, KYC and AML. Danal is experiencing strong demand by global brands for the US, EU, and Asian markets - especially in the financial sector like banks, insurances, money remitters, payment processors and innovative

I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.

Besök vårt pressrum