The original version of this article incorrectly reported that Accelr8 said in December that it plans to launch its BACceler8r product in fiscal 2006. In fact, the company made this projection in October 2004.
NEW YORK, June 15 (GenomeWeb News) - Accelr8 Technology today reported an 84-percent decline in fiscal third-quarter revenues and a 40-percent rise in net losses, and said it may not launch its BACcelr8r product before the end of July as it had originally promised.
Total receipts for the three months ended April 30 declined to $19,800 from $120,104 year over year.
Net losses for the period jumped to $788,865, or $.08 per share, from $562,838, or $.06.
The company did not disclose its R&D spending in the quarter or break out its balance sheet.
In October 2004 Accelr8 said it would begin selling its BACcelr8r product in fiscal 2006, which ends July 31. Asked today 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 today. He said the company is "currently re-evaluating" the markets in which the product can be sold.
The BACcelr8r is designed to provide bacterial identification and antibiotic resistance analysis in "far less time than required by current lab culturing methods," Accelr8 said in a statement.