The lawsuit, filed in 2015 against Accelerate and some of its executives alleging false and misleading statements, was dismissed after the plaintiffs requested the action.
The company reported signed agreements for 265 instruments, while revenue-generating placements have doubled to 45.
The firm will encounter stiff competition, particularly from BioMérieux and Luminex, but there are untapped opportunities for adoption, according to industry analysts.
The firm said it anticipates using the net proceeds from the offering for general corporate purposes and to fund its commercialization efforts.
The company noted that it has granted its offering underwriters a 30-day option to purchase up to an additional 412,500 shares at the public offering price.
The firm expects to grant the underwriters of the offering a 30-day option to purchase up to an additional 375,000 shares of its common stock at the public offering price.
The firm said that the largest public hospital purchasing group in France has awarded it a public tender certification to supply its solution.
Overall, 10 of the 26 companies in the 360Dx Index declined last month, but it still beat the broader markets.
Lab directors selecting new instruments for antimicrobial testing may wait for clinical proof and then evaluate timing, throughput, and cost.