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The stock prices of 17 of the 25 firms in the 360Dx Index fell month over month with Enzo Biochem and Bio-Rad leading decliners.
The sepsis diagnostics market heated up during the year, with FDA clearances for a handful of tests, growing investor interest, and R&D advances in the field.
Paced by Accelerate Diagnostics and Bio-Rad, the 360Dx Index beat the broader markets. Shares of GenMark and Opko, however, were sharply down.
The company reported signed agreements for 295 instruments, while revenue-generating placements have grown to 56.
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.