NEW YORK (GenomeWeb News) – Accelerate Diagnostics today said that revenues for its first quarter rose 70 percent year over year.

The Tucson, Ariz.-based firm company, formerly called Accelr8 Technology, recorded $15,678 in revenues, compared to $9,197 a year ago. All revenues for the current and year-ago quarter came from its OptiChem business, the company said in its Form 10-Q filed with the US Securities and Exchange Commission, and the increase resulted from "fluctuations in partner sales volumes on which royalties were due the company."

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