Accelerate Diagnostics, Inc. (AXDX) stock surged 4.37% in the after-market trading session at the price of $5.26 despite no fundamental reason. The last reported news was the publication of its Improving Outcomes and Antibiotic Stewardship Study in Clinical Infectious Diseases.
AXDX is an in vitro diagnostics corporation that provides solutions for antibiotic resistance and sepsis. The Accelerate PhenoTest BC kit and Accelerate Pheno system employ several technologies to reduce the time needed to determine the optimal antibiotic treatment for fatal infections.
Publication of Accelerate Pheno System Study in Clinical Infectious Diseases
On 22nd November 2021, AXDX reported that its Improving Outcomes and Antibiotic Stewardship Study had published in the journal Clinical Infectious Diseases. The multi-center study analyzed data before and after applying Accelerate Pheno system to determine its influence on patients with bloodstream infections. The data revealed notable reductions in time to optimal antimicrobial therapeutics, modification, and de-escalations. The study covered endpoints for microbiology test turnaround time, hospital length of stay, antimicrobial use, and 30-day mortality. Early antimicrobial optimization provides widespread benefits like lessening harm from antimicrobial exposures.
Management Comments
Chief executive officer of AXDX, Jack Phillips, remarked that they were satisfied with the findings of this multi-center study. The study emphasizes the value that Pheno ID/AST system brings to acutely-ill patients. This study further confirms the outcomes of 70 other peer-reviewed clinical studies. They are honored that Pheno System is meeting the standard of care in various famous hospitals, he added.
AXDX Third Quarter 2021 Financial Results
On 9th November 2021, AXDX published preliminary financial results for the third quarter ended on 30th September 2021.
AXDX Financial Highlights
AXDX calculated net sales of $3.1 million for the third quarter ended 30th September 2021. It represents a loss of 13% from $3.6 million in the third quarter of 2020. Net loss totaled $9.0 million, or $0.15 per share, in the third quarter of 2021. For the third quarter ended 30th September 2021, the gross margin was 32%. The company reported a gross margin of 36% for the same quarter of 2020. As of 30th September 2021, net cash was approximately $12.3 million.
