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Accelr8 Posts 50-Percent Decline in Fiscal 2006 Revenue as Net Loss Doubles

NEW YORK (GenomeWeb News) — Accelr8 Technology today said that total year-end revenue fell by more than half as net losses increased by roughly half.
 
Revenue for the 12 months ended July 31 slid to $212,000 from $500,000 in 2005, and the company lost $3 million on the year, about 50 percent more than last year.
 
The company said in 2006 it completed its transition to an R&D operation, with its resources directed towards its BACcelr8r platform, particularly towards its BACcel-1.0.
 
The company said the tool will be used for swift quantitative pathogen identifications and may help “identify organisms according to major antibiotic resistance categories.”
 
Accelr8 said it may refrain from marketing its BACcelr8r platform for the time being. 
 
In October 2004 Accelr8 said it would begin selling the BACcelr8r in fiscal 2006, which ended July 31. Asked in June whether the company is still following this timeline, President David Howson said "probably not."
 
"We're not sure that the research market is a good place for us to go" with the BACcelr8r, Howson told GenomeWeb News at the time. He said the company is "currently re-evaluating" the markets in which the product can be sold.
 
The company said it is expecting to have the BACcel-1.0 deployed in the fall of 2007, and ideally will have one functioning in a clinical environment at a research and development hospital, where it will be identifying various infection-related organisms.