NEW YORK – Accelerate Diagnostics said this week that its third quarter revenues slid 3 percent year over year to $3.0 million from $3.1 million a year ago. The firm said that it added six contracted instruments and brought nine instruments live in the US during the quarter, ending Q3 with 323 clinically live and revenue-generating instruments in the US. Another 18 US-based contracted instruments are in the process of being implemented. During the quarter, Becton Dickinson reached a deal with Accelerate Dx to sell the Accelerate Pheno system and the Accelerate Arc module for antimicrobial susceptibility testing. The Tucson, Arizona-based diagnostics firm recorded a net loss of $15.7 million, or $.18 per share, for the three months ended Sept. 30 compared to a net loss of $9.0 million, or $.15 per share, a year ago. Accelerate Dx finished the recently completed quarter with $39.0 million in cash and cash equivalents.
Exagen said this week that its third quarter revenues grew 20 percent year over year as the number of delivered Avise CTD tests were up 12 percent year over year. For the three months ended Sep. 30, the San Diego-based developer of autoimmune disease diagnostic tests increased its revenues to $14.7 million from $12.3 million a year ago and beat the consensus Wall Street estimate of $9.1 million. The firm delivered 35,569 Avise CTD tests during the recently completed quarter. Exagen had a net loss of $8.1 million, or $.47 per share, in Q3 2022 compared to a net loss of $7.2 million, or $.42 per share, a year ago, staying below the consensus Wall Street estimate of a loss of $.73 per share. The firm exited the quarter with $68.7 million in cash and cash equivalents. It revised its full-year 2022 revenue guidance to a range of $40 million to $43 million from a previous range of $35 million to $40 million.
Lucira Health said this week that its revenues for the third quarter rose to $34.4 million from $15.0 million a year ago. In a statement, Erik Engelson, the firm’s president and CEO, attributed the sharp increase to growth of its COVID-19 testing business. The Emeryville, California-based developer of infectious disease tests posted a net loss of $126.9 million, or $3.15 per share, for the three months ended Sept. 30 compared to a net loss of $27.5 million, or $.71 per share, a year ago. It missed the consensus Wall Street estimate of a loss of $.38 per share. Lucira Health finished Q3 with $39.8 million in cash and cash equivalents and $1.9 million in restricted cash equivalents.
Lucid Diagnostics said this week that its third quarter revenues fell to $76,000 from $200,000 a year ago, missing the consensus Wall Street estimate of $420,000. The New York-based diagnostics firm had a net loss of $14.3 million, or $.39 per share, for the three months ended Sept. 30 compared to a net loss of $7.0 million, or $.49 per share, a year ago. On a non-GAAP basis, Lucid Dx had a loss of $.28 per share and beat the consensus Wall Street estimate of a loss of $.40 per share. The company had cash and cash equivalents of $26.9 million at the end of the quarter.
Interpace Biosciences this week reported a 1 percent increase in third quarter revenues to $8.2 million from $8.1 million a year ago. The Parsippany, New Jersey-based company said that a decline in the rate of reimbursement for its ThyGeNext thyroid cancer sequencing test was largely responsible for the revenue decrease. Interpace reported a Q3 net loss of $14.2 million, or $3.35 per share, compared to a net loss of $3.6 million, or $.85 per share, a year ago. The company's Q3 loss from continuing operations was $1.3 million, about the same as a year ago. During the quarter, Interpace sold its pharma business to Flagship Biosciences for an undisclosed amount, a move that it said was expected to improve operating cash flow by nearly $5 million annually. Interpace finished the quarter with $6.3 million in cash, cash equivalents, and restricted cash.