Skip to main content
Premium Trial:

Request an Annual Quote

Accelerate Dx Q1 Revenues Flat; Plans Clinical Trial for FDA Submission of Microbiology Platform

NEW YORK (GenomeWeb) – Accelerate Diagnostics said in a regulatory document that its revenues for the first quarter were unchanged year over year at $14,000.

All revenues for the three months ended March 31, as well as for the year-ago quarter, were derived from licensing and royalty revenues, the Tucson, Arizona-based firm said in its Form 10-Q filed with the US Securities and Exchange Commission last week. 

The firm, which is developing a platform for single-cell microbiology analysis, said that its net loss for Q1 2015 increased to $8.9 million, or $.20 per share, compared to a net loss of $5.2 million, or $.12 per share, in the year-ago period. 

Its R&D costs grew 78 percent year over year to $6.4 million from $3.6 million, while its SG&A costs increased 45 percent to $2.9 million from $2.0 million. The R&D spending increase resulted from a higher employee headcount, laboratory and instrument and engineering supply purchases, and pre-launch efforts, it said. The SG&A cost growth resulted from salaries and related expenses due to a ramp up in operations, it added. 

During Q1 2015, the firm received a $5 million grant from the National Institutes of Health to develop a test for detecting common bacteria directly from blood. It also achieved ISO 13485:2003 certification, but was hit with a class action lawsuit accusing the company of intentionally misleading investors about the capabilities of its rapid diagnostic platform. 

The platform uses a culture-free method for genomic and phenotypic detection and can perform molecular identification in one hour and provide antibiotic susceptibility testing results in five hours. In its Form 10-Q, Accelerate said that the development of its system is "substantially complete." The firm plans to initiate a clinical trial in the first half of 2015 to support its submission to the US Food and Drug Administration for marketing approval of the platform. 

The Scan

Suicidal Ideation-Linked Loci Identified Using Million Veteran Program Data

Researchers in PLOS Genetics identify risk variants within and across ancestry groups with a genome-wide association study involving veterans with or without a history of suicidal ideation.

Algorithm Teases Out Genetic Ancestry in Individuals at Biobank Scale

Researchers develop an algorithm known as Rye to tease apart ancestry fractions in admixed individuals at a biobank-scale, applying it to 488,221 UK Biobank participants in Nucleic Acids Research.

Multi-Ancestry Analysis Highlights Comparable Common Variants at Complex Trait-Linked Loci

Researchers in Nature Genetics examine common variants implicated in more than three dozen conditions, estimating genetic effect similarities across ancestry tracts in admixed individuals.

Sick Newborns Selected for WGS With Automated Pipeline

Researchers successfully prioritized infants with potential Mendelian conditions for whole-genome sequencing or rapid whole-genome sequencing, as they report in Genome Medicine.