Why Accelerate Diagnostics Shares Are Trading Higher Today

Why Accelerate Diagnostics Shares Are Trading Higher Today
  • Becton Dickinson and Co BDX will sell Accelerate Diagnostics Inc's AXDX rapid testing solution for antibiotic resistance and susceptibility, offering results in hours versus one to two days with some traditional laboratory methods.
  • Becton Dickinson will market and sell the Accelerate Pheno system and Accelerate Arc module and associated test kits through its global sales network. 
  • These solutions complement BD's existing Clinical Microbiology portfolio.
  • The Accelerate PhenoTest BC kit is the first test cleared by the FDA to deliver both rapid identification and phenotypic antibiotic susceptibility results in hours direct from positive blood cultures. 
  • The Accelerate Arc module is a simple load-and-go system.
  • Accelerate Diagnostics reported Q2 sales of $3.9 million, +39% Y/Y beating the consensus of $3 million, driven by increased capital and recurring revenues.
  • The company added eight contracted instruments and brought three instruments live in the U.S. in the quarter.
  • It ended the quarter with 316 U.S. clinically live, and revenue-generating instruments, with another 78 U.S. contracted instruments in the process of being implemented and not yet revenue-generating.
  • The company reported an EPS loss of $(0.23), down from $(0.36) a year ago and beating the consensus loss of $(0.28).
  • Price Action: AXDX shares are up 22.2% at $2.59 during the market session on the last check Monday.

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