Accelerate Diagnostics (AXDX) Tops Q3 EPS by 1c

Accelerate Diagnostics (NASDAQ: AXDX) reported Q3 EPS of ($0.37), $0.01 better than the analyst estimate of ($0.38). Revenue for the quarter came in at $2.3 million versus the consensus estimate of $3.12 million.

Net cash used in the quarter was $15.9 million, and the company ended the quarter with total cash, investments, and cash equivalents of $122.0 million.

"Arena continues to have a strong 2019 and we remain highly focused on achieving several key clinical and regulatory goals. This year we have initiated multiple important trials, including the etrasimod Phase 3 ELEVATE UC 52 trial, the olorinab Phase 2 CAPTIVATE trial, and the etrasimod Phase 2 ADVISE trial. We remain on track to initiate the etrasimod Ph 2/3 program in Crohn\'s disease and to file an IND for APD418 this year," said Amit D. Munshi, President and CEO of Arena. "We look forward to delivering on our exciting milestones and will continue to be bold and creative as we scale our enterprise to advance our pipeline."

For earnings history and earnings-related data on Accelerate Diagnostics (AXDX) click here.

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