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Accelerate Diagnostics Receives CE-IVD Marking for Pneumonia Infections Test; Q4 Revenues Rise

NEW YORK (360Dx) – Accelerate Diagnostics announced today it has received CE-IVD marking for its Accelerate Pheno system targeting severe bacterial pneumonia infections.

According to the firm, researchers found that results for its severe pneumonia assay were available about 57 hours faster than normal standard of care.

Accelerate also announced that it expects to report fourth quarter revenue of $2.1 million, which would fall short of the consensus Wall Street estimate of $3.0 million.

For full-year 2017, the firm expects revenue of around $4.2 million compared to a full-year revenue of $39,000 in 2016. 

Accelerate said that the amount of its instruments under customer agreement increased by 42 in the fourth quarter, bringing the total number of instruments under customer agreement to 337. According to the firm, instruments under agreement refer to both instruments installed under evaluation, as well as revenue generating placements.  

In mid-day trading on the Nasdaq, shares of Accelerate were down around 6 percent at $25.55.