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UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C.
20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section
13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) |
August 10, 2023 |
Accelerate Diagnostics, Inc.
(Exact name of registrant as specified in
its charter)
Delaware
(State or other jurisdiction
of incorporation)
001-31822 |
|
84-1072256 |
(Commission File Number) |
|
(IRS Employer Identification No.) |
3950 South Country Club Road, Suite 470, Tucson, Arizona |
|
85714 |
(Address of principal executive offices) |
|
(Zip Code) |
(520) 365-3100
(Registrant’s
telephone number, including area code)
Not Applicable
(Former name or former
address, if changed since last report)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section
12(b) of the Act:
Title of each class |
Trading Symbol |
Name of each exchange on which
registered |
Common Stock, $0.001 par value per share |
AXDX |
The Nasdaq Stock Market LLC
(The Nasdaq Capital Market) |
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ¨
| Item 2.02. | Results of Operations and Financial Condition. |
On August 10, 2023,
Accelerate Diagnostics, Inc. (the “Company”) issued a press release announcing its financial results for the quarter
ending June 30, 2023. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference
in its entirety.
In accordance with General
Instruction B.2 for Form 8-K, the information in this Item 2.02, including Exhibit 99.1, shall not be deemed “filed”
for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject
to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as
amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
ACCELERATE DIAGNOSTICS, INC. |
|
(Registrant) |
Date: August 10, 2023 |
|
|
/s/ David Patience |
|
David Patience |
|
Chief Financial Officer |
Exhibit 99.1
Accelerate Diagnostics Reports Second Quarter
2023 Financial Results
TUCSON, Ariz., August 10, 2023 -- Accelerate Diagnostics, Inc.
(Nasdaq: AXDX) today announced financial results for the second quarter for the period ended June 30, 2023.
“Throughout the quarter, we’ve significantly advanced our
Wave Program,” stated Jack Phillips, CEO of Accelerate Diagnostics, Inc. “Our recent achievements underscore our commitment
to delivering a Wave pre-clinical positive blood culture study by year-end. Moreover, we’re pleased with the ongoing progress of
our BD partnership, resulting in the strongest quarter for US contracted instruments since 2021.”
Second Quarter 2023 Operating Highlights:
| · | Added 13 contracted instruments during the quarter. Ended the quarter with
339 U.S. clinically live and revenue-generating instruments, with another 70 U.S. contracted instruments in the process of being implemented
and not yet revenue-generating. |
| · | Continue to make significant progress with our Wave development program,
now running 1,000 Wave cards a week with more than 100 million images taken to-date to support algorithm development. |
| · | BD commercial partnership continues to progress with more opportunities advancing
further in the sales funnel with notable increases in sales funnel velocity. |
| · | Closed various Restructuring Transactions, to extend a portion of the current
maturity, lower our overall debt outstanding and simplify our capital structure. |
Second Quarter 2023 Financial Highlights:
| · | Net sales were $2.9 million, compared to $3.9 million in the second quarter
of the prior year. The decrease in revenues was driven by fewer capital instrument sales in the current quarter. |
| · | Gross margin was 27% for the quarter, compared to 28% in the second quarter
of the prior year. |
| · | Selling, general, and administrative (SG&A) costs for the quarter were
$7.6 million, compared to $11.5 million for the same quarter of the prior year. SG&A costs for the quarter excluding non-cash stock-based
compensation were $6.3 million, compared to $8.3 million for the same quarter of the prior year. This decrease was driven by lower employee-related
expenses. |
| · | Research and development (R&D) costs for the quarter were $5.8 million,
compared to $7.6 million for the same quarter of the prior year. R&D costs excluding non-cash stock-based compensation expense for
the quarter were $5.6 million, compared to $7.0 million for the same quarter of the prior year. This decline in expense driven by reductions
of third-party partnership spend as our Wave program continues to advance. |
| · | GAAP net loss was $26.0 million dollars, resulting in a net loss per share
of $2.36. Net Loss from Operations, excluding non-cash stock-based compensation expense was $10.9 million. |
| · | Net cash used in the quarter excluding financing was $15.2 million with notable
debt and equity issuance costs for professional and legal fees related to our Restructuring Transactions and the company ended the quarter
with total cash, investments, and cash equivalents of $30.7 million. |
Year-to-date Financial 2023 Highlights
| · | Net sales were $5.7 million year-to-date, compared to $6.8 million for the
same period of the prior year. The decrease in revenues was driven by fewer capital instrument sales in the current year. |
| · | Gross margin was 32% year-to-date, compared to 28% for the same period of
the prior year. |
| · | Selling, general, and administrative (SG&A) costs year-to-date were $17.7
million, compared to $22.2 million for the same period of the prior year. SG&A costs excluding non-cash stock-based compensation were
$16.5 million year to date, compared to $16.5 million for the same period of the prior year. |
| · | Research and development (R&D) costs were $12.8 million year to date,
compared to $13.6 million for the same period of the prior year. R&D costs excluding non-cash stock-based compensation expense were
$11.9 million year to date, compared to $12.7 million for the same period of the prior year. This decline in expense driven by reductions
of third-party partnership spend as our Wave program continues to advance. |
| · | GAAP Net loss was $42.8 million year-to-date, resulting in a net loss per
share of $4.11. Net Loss from Operations, excluding non-cash stock-based compensation expense was $26.4 million. |
| · | Net cash used excluding financing was $28.9 million |
The Company is finalizing its analysis of the accounting for the Restructuring
Transactions.
All share and per share amounts have been retroactively adjusted for
all periods presented to reflect the reverse stock split effected on July 11th, 2023.
Full financial results for the quarter ended June 30, 2023 will
be filed on Form 10-Q through the Securities and Exchange Commission’s (SEC) website at http://www.sec.gov
Audio Webcast and Conference Call Today at 4:30 p.m. Eastern
Time
To listen by phone, dial +1.877.883.0383 and enter the Elite Entry
Number: 4614555. International participants may dial +1.412.902.6506. Please dial in 10-15 minutes prior to the start of the conference.
A replay of the call will be available by telephone at +1.877.344.7529 (U.S.) or +1.412.317.0088 (International) using the replay code
8685802 until August 31, 2023.
This conference call will also be webcast and can be accessed from
the company’s website at ir.axdx.com. A replay of the audio webcast will be available until August 31, 2023.
Non-GAAP Financial Measures
This press release contains certain financial measures that are not
recognized measures under accounting principles generally accepted in the United States of America (“GAAP”), which include
SG&A, R&D, and operating income (loss) amounts excluding stock-based compensation expenses.
Our management and board of directors use expenses excluding the cost
of stock-based compensation (net of forfeitures) to understand and evaluate our operating performance and trends, to prepare and approve
our annual budget and to develop short-term and long-term operating and financing plans. Accordingly, we believe that expenses excluding
the cost of stock-based compensation provides useful information for investors in understanding and evaluating our operating results in
the same manner as our management and our board of directors. Expenses excluding the cost of stock-based compensation is a non-GAAP financial
measure and should be considered in addition to, not as superior to, or as a substitute for, SG&A expenses, R&D expenses, and
operating income (loss) reported in accordance with GAAP. The following tables present a reconciliation of SG&A expenses, R&D
expenses and operating income (loss) excluding stock-based compensation to comparable GAAP measures for the periods indicated:
| |
Three Months Ended June 30, | | |
Six Months Ended June 30, | |
| |
(in thousands) | | |
(in thousands) | |
| |
2023 | | |
2022 | | |
2023 | | |
2022 | |
Sales, General and Administrative | |
$ | 7,564 | | |
$ | 11,493 | | |
$ | 17,669 | | |
$ | 22,167 | |
Non-cash equity-based compensation as a component of sales, general and administrative | |
| 1,299 | | |
| 3,204 | | |
| 1,159 | | |
| 5,646 | |
Sales, general and administrative less non-cash equity-based compensation | |
$ | 6,266 | | |
$ | 8,289 | | |
$ | 16,510 | | |
$ | 16,521 |
|
| |
Three Months Ended June 30, | | |
Six Months Ended June 30, | |
| |
(in thousands) | | |
(in thousands) | |
| |
2023 | | |
2022 | | |
2023 | | |
2022 | |
Research and Development | |
$ | 5,820 | | |
$ | 7,576 | | |
$ | 12,788 | | |
$ | 13,600 | |
Non-cash equity-based compensation as a component of research and development | |
| 256 | | |
| 539 | | |
| 861 | | |
| 901 | |
Research and development less non-cash equity-based compensation | |
$ | 5,563 | | |
$ | 7,037 | | |
$ | 11,927 | | |
$ | 12,699 | |
| |
Three Months Ended June 30, | | |
Six Months Ended June 30, | |
| |
(in thousands) | | |
(in thousands) | |
| |
2023 | | |
2022 | | |
2023 | | |
2022 | |
Loss from operations | |
$ | (12,585 | ) | |
$ | (17,989 | ) | |
$ | (28,647 | ) | |
$ | (33,884 | ) |
Non-cash equity-based compensation as a component of loss from operations | |
| 1,653 | | |
| 3,971 | | |
| 2,208 | | |
| 6,950 | |
Loss from operations less non-cash equity-based compensation | |
$ | (10,932 | ) | |
$ | (14,018 | ) | |
$ | (26,439 | ) | |
$ | (26,934 | ) |
About Accelerate Diagnostics, Inc.
Accelerate Diagnostics, Inc. is an
in vitro diagnostics company dedicated to providing solutions for the global challenges of antibiotic resistance and sepsis. The Accelerate
Pheno® system and Accelerate PhenoTest® BC kit combine several technologies aimed at reducing the time clinicians must wait to
determine the most optimal antibiotic therapy for deadly infections. The FDA cleared system and kit fully automate the sample preparation
steps to report phenotypic antibiotic susceptibility results in approximately 7 hours direct from positive blood cultures. Recent external
studies indicate the solution offers results 1-2 days faster than existing methods, enabling clinicians to optimize antibiotic selection
and dosage specific to the individual patient days earlier.
"Accelerate Diagnostics" and diamond
shaped logos and marks are registered trademarks of Accelerate Diagnostics, Inc. Any trade, product or service name referenced in
this document using the name "Accelerate" is a trademark and/or property of Accelerate Diagnostics, Inc. All other company
and product names may be trademarks, registered trademarks, or service marks of the companies with which they are associated.
For more information about the company,
its products and technology, or recent publications, visit axdx.com.
Forward-Looking Statements
Certain of the statements made in this press
release are forward-looking or may have forward-looking implications. Actual results or developments may differ materially from those
projected or implied in these forward-looking statements. Information about the risks and uncertainties faced by Accelerate Diagnostics
is contained in the section captioned “Risk Factors” in the company's most recent Annual Report on Form 10-K, filed with
the Securities and Exchange Commission on March 31, 2023, and in any other reports that the company files with the Securities
and Exchange Commission. The company's forward-looking statements could be affected by general industry and market conditions. Except
as required by federal securities laws, the company undertakes no obligation to update or revise these forward-looking statements to reflect
new events, uncertainties or other contingencies.
###
For further information: Investor Inquiries & Media Contact:
Laura Pierson, Accelerate Diagnostics, +1 520 365-3100, investors@axdx.com
Source: Accelerate Diagnostics Inc.
ACCELERATE DIAGNOSTICS, INC.
CONDENSED CONSOLIDATED
BALANCE SHEETS
(in thousands, except share data)
| |
June 30, | | |
December 31, | |
| |
2023 | | |
2022 | |
| |
Unaudited | | |
| |
ASSETS |
|
|
|
|
|
|
|
|
Current assets: | |
| | | |
| | |
Cash and cash equivalents | |
$ | 29,282 | | |
$ | 34,905 | |
Investments | |
| 1,423 | | |
| 10,656 | |
Trade accounts receivable, net | |
| 2,342 | | |
| 2,416 | |
Inventory | |
| 5,106 | | |
| 5,194 | |
Prepaid expenses | |
| 1,274 | | |
| 818 | |
Other current assets | |
| 2,812 | | |
| 2,025 | |
Total current assets | |
| 42,239 | | |
| 56,014 | |
Property and equipment, net | |
| 2,896 | | |
| 3,478 | |
Finance lease assets, net | |
| 2,091 | | |
| 2,422 | |
Operating lease right of use assets, net | |
| 1,527 | | |
| 1,859 | |
Other non-current assets | |
| 1,125 | | |
| 1,242 | |
Total assets | |
$ | 49,878 | | |
$ | 65,015 | |
LIABILITIES
AND STOCKHOLDERS’ DEFICIT | |
| | | |
| | |
Current liabilities: | |
| | | |
| | |
Accounts payable | |
$ | 4,033 | | |
$ | 4,501 | |
Accrued liabilities | |
| 3,229 | | |
| 2,682 | |
Accrued interest | |
| 348 | | |
| 472 | |
Deferred revenue | |
| 478 | | |
| 547 | |
Current portion of convertible notes | |
| 726 | | |
| 56,413 | |
Finance lease, current | |
| 1,180 | | |
| 1,113 | |
Operating lease, current | |
| 936 | | |
| 829 | |
Derivative liability | |
| 42,786 | | |
| — | |
Total current liabilities | |
| 53,716 | | |
| 66,557 | |
Finance lease, non-current | |
| 375 | | |
| 782 | |
Operating lease, non-current | |
| 1,064 | | |
| 1,545 | |
Other non-current liabilities | |
| 1,097 | | |
| 874 | |
Accrued interest related-party | |
| — | | |
| 663 | |
Long-term debt related-party | |
| — | | |
| 16,858 | |
Convertible notes | |
| 32,289 | | |
| — | |
Total liabilities | |
$ | 88,541 | | |
$ | 87,279 | |
Stockholders’ deficit: | |
| | | |
| | |
Preferred shares, $0.001 par value; | |
| | | |
| | |
5,000,000 preferred shares authorized with no shares issued and outstanding on June 30, 2023 and 5,000,000 preferred shares authorized with 395,455 shares issued and outstanding on December 31, 2022 | |
| — | | |
| — | |
Common stock, $0.001 par value; | |
| | | |
| | |
450,000,000 common shares authorized with 14,357,953 shares issued and outstanding on June 30, 2023 and 200,000,000 common shares authorized with 9,747,755 shares issued and outstanding on December 31, 2022 | |
| 14 | | |
| 10 | |
Contributed capital | |
| 657,057 | | |
| 630,432 | |
Treasury stock | |
| (45,067 | ) | |
| (45,067 | ) |
Accumulated deficit | |
| (650,014 | ) | |
| (607,239 | ) |
Accumulated other comprehensive loss | |
| (653 | ) | |
| (400 | ) |
Total stockholders’ deficit | |
| (38,663 | ) | |
| (22,264 | ) |
Total liabilities and stockholders’ deficit | |
$ | 49,878 | | |
$ | 65,015 | |
See accompanying notes to condensed consolidated
financial statements.
ACCELERATE DIAGNOSTICS, INC.
CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE
LOSS
Unaudited
(in thousands, except per share data)
| |
Three Months Ended | | |
Six Months Ended | |
| |
June 30, | | |
June 30, | | |
June 30, | | |
June 30, | |
| |
2023 | | |
2022 | | |
2023 | | |
2022 | |
Net sales | |
$ | 2,921 | | |
$ | 3,861 | | |
$ | 5,733 | | |
$ | 6,820 | |
| |
| | | |
| | | |
| | | |
| | |
Cost of sales | |
| 2,122 | | |
| 2,781 | | |
| 3,923 | | |
| 4,937 | |
Gross profit | |
| 799 | | |
| 1,080 | | |
| 1,810 | | |
| 1,883 | |
| |
| | | |
| | | |
| | | |
| | |
Costs and expenses: | |
| | | |
| | | |
| | | |
| | |
Research and development | |
| 5,820 | | |
| 7,576 | | |
| 12,788 | | |
| 13,600 | |
Sales, general and administrative | |
| 7,564 | | |
| 11,493 | | |
| 17,669 | | |
| 22,167 | |
Total costs and expenses | |
| 13,384 | | |
| 19,069 | | |
| 30,457 | | |
| 35,767 | |
| |
| | | |
| | | |
| | | |
| | |
Loss from operations | |
| (12,585 | ) | |
| (17,989 | ) | |
| (28,647 | ) | |
| (33,884 | ) |
| |
| | | |
| | | |
| | | |
| | |
Other (expense) income: | |
| | | |
| | | |
| | | |
| | |
Interest expense | |
| (1,175 | ) | |
| (713 | ) | |
| (1,593 | ) | |
| (1,630 | ) |
Interest expense related-party | |
| (804 | ) | |
| — | | |
| (1,817 | ) | |
| — | |
(Loss) gain on extinguishment of debt | |
| (6,550 | ) | |
| 199 | | |
| (6,550 | ) | |
| 3,565 | |
(Loss) on financial instruments | |
| (5,030 | ) | |
| — | | |
| (5,030 | ) | |
| — | |
Foreign currency exchange gain | |
| 25 | | |
| 31 | | |
| 258 | | |
| 40 | |
Interest income | |
| 255 | | |
| 56 | | |
| 675 | | |
| 78 | |
Other income (expense), net | |
| 40 | | |
| (107 | ) | |
| 85 | | |
| (157 | ) |
Total other (expense) income, net | |
| (13,239 | ) | |
| (534 | ) | |
| (13,972 | ) | |
| 1,896 | |
| |
| | | |
| | | |
| | | |
| | |
Net loss before income taxes | |
| (25,824 | ) | |
| (18,523 | ) | |
| (42,619 | ) | |
| (31,988 | ) |
Provision for income taxes | |
| (156 | ) | |
| — | | |
| (156 | ) | |
| — | |
Net loss | |
$ | (25,980 | ) | |
$ | (18,523 | ) | |
$ | (42,775 | ) | |
$ | (31,988 | ) |
| |
| | | |
| | | |
| | | |
| | |
Basic and diluted net loss per share | |
$ | (2.36 | ) | |
$ | (2.43 | ) | |
$ | (4.11 | ) | |
$ | (4.44 | ) |
Weighted average shares outstanding | |
| 11,009 | | |
| 7,623 | | |
| 10,420 | | |
| 7,200 | |
| |
| | | |
| | | |
| | | |
| | |
Other
comprehensive loss: | |
| | | |
| | | |
| | | |
| | |
Net loss | |
$ | (25,980 | ) | |
$ | (18,523 | ) | |
$ | (42,775 | ) | |
$ | (31,988 | ) |
Net unrealized gain (loss) on debt securities available-for-sale | |
| 4 | | |
| (39 | ) | |
| 28 | | |
| (132 | ) |
Foreign currency translation adjustment | |
| (26 | ) | |
| (161 | ) | |
| (281 | ) | |
| (240 | ) |
Comprehensive loss | |
$ | (26,002 | ) | |
$ | (18,723 | ) | |
$ | (43,028 | ) | |
$ | (32,360 | ) |
See accompanying notes to condensed consolidated
financial statements.
ACCELERATE DIAGNOSTICS, INC.
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS
Unaudited
(in thousands)
| |
Six Months Ended | |
| |
June 30, | | |
June 30, | |
| |
2023 | | |
2022 | |
Cash flows from operating activities: | |
| | | |
| | |
Net loss | |
$ | (42,775 | ) | |
$ | (31,988 | ) |
Adjustments to reconcile net loss to net cash used in operating activities: | |
| | | |
| | |
Depreciation and amortization | |
| 1,617 | | |
| 1,435 | |
Amortization of investment discount | |
| — | | |
| 79 | |
Equity-based compensation | |
| 2,208 | | |
| 6,950 | |
Amortization of debt discount and issuance costs | |
| 692 | | |
| 284 | |
Amortization of debt discount related-party | |
| 1,033 | | |
| — | |
Loss on disposal of property and equipment | |
| 68 | | |
| 283 | |
Unrealized (gain) loss on equity investments | |
| (90 | ) | |
| 157 | |
Loss (gain) on extinguishment of debt | |
| 6,550 | | |
| (3,565 | ) |
Loss on derivative | |
| 5,030 | | |
| — | |
(Increase) decrease in assets: | |
| | | |
| | |
Contributions to deferred compensation plan | |
| — | | |
| (110 | ) |
Accounts receivable | |
| 74 | | |
| (615 | ) |
Inventory | |
| (30 | ) | |
| (416 | ) |
Prepaid expense and other | |
| (78 | ) | |
| (719 | ) |
Increase (decrease) in liabilities: | |
| | | |
| | |
Accounts payable | |
| (451 | ) | |
| 658 | |
Accrued liabilities and other | |
| 125 | | |
| 2,288 | |
Accrued interest | |
| 900 | | |
| (159 | ) |
Accrued interest from related-party | |
| 784 | | |
| — | |
Deferred revenue and income | |
| (69 | ) | |
| (116 | ) |
Deferred compensation | |
| 223 | | |
| (51 | ) |
Net cash used in operating activities | |
| (24,189 | ) | |
| (25,605 | ) |
| |
| | | |
| | |
Cash flows from investing activities: | |
| | | |
| | |
Purchases of equipment | |
| (167 | ) | |
| (447 | ) |
Purchase of marketable securities | |
| — | | |
| (27,504 | ) |
Maturities of marketable securities | |
| 9,291 | | |
| 18,738 | |
Net cash provided (used) by investing activities | |
| 9,124 | | |
| (9,213 | ) |
| |
| | | |
| | |
Cash flows from financing activities: | |
| | | |
| | |
Common stock to related party | |
| 4,000 | | |
| — | |
Payments on finance leases | |
| (540 | ) | |
| (424 | ) |
Proceeds from exercise of options | |
| — | | |
| 7 | |
Proceeds from issuance of common stocks under employee purchase plan | |
| — | | |
| 137 | |
Proceeds from issuance of convertible notes | |
| 10,000 | | |
| — | |
Transaction costs related to debt and equity issuance | |
| (3,731 | ) | |
| — | |
Net cash (used) provided by financing activities | |
| 9,729 | | |
| (280 | ) |
| |
| | | |
| | |
Effect of exchange rate on cash | |
| (287 | ) | |
| (219 | ) |
| |
| | | |
| | |
Decrease in cash and cash equivalents | |
| (5,623 | ) | |
| (35,317 | ) |
Cash and cash equivalents, beginning of period | |
| 34,905 | | |
| 39,898 | |
Cash and cash equivalents, end of period | |
$ | 29,282 | | |
$ | 4,581 | |
| |
| | | |
| | |
Non-cash investing activities: | |
| | | |
| | |
Net transfer of instruments from inventory to property and equipment | |
$ | 88 | | |
$ | 202 | |
| |
| | | |
| | |
Non-cash financing activities: | |
| | | |
| | |
Extinguishment of 2.50% Convertible Senior Notes (the “2.5% Notes”) through issuance of common stock | |
$ | — | | |
$ | 10,180 | |
Capital contribution from the exchange of secured note and accrued interest through the issuance of common stock with related party | |
$ | 25,363 | | |
$ | — | |
Loss from the exchange of secured note and accrued interest through the issuance of common stock with related party | |
$ | 6,059 | | |
$ | — | |
Capital contribution from the issuance of put option with related party | |
$ | 1,336 | | |
$ | — | |
Exchange of 2.5% Notes and accrued interest for 5.0% Convertible Senior Notes (the “5.0% Notes”) | |
$ | 56,893 | | |
$ | — | |
Debt premium on issuance of 5.0% Notes | |
$ | 6,023 | | |
$ | — | |
Bifurcated derivative liability | |
$ | 38,160 | | |
$ | — | |
| |
| | | |
| | |
Supplemental cash flow information: | |
| | | |
| | |
Interest paid | |
$ | — | | |
$ | 1,506 | |
See accompanying notes to condensed consolidated
financial statements.
v3.23.2
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Aug. 10, 2023 |
Cover [Abstract] |
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8-K
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false
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Aug. 10, 2023
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Entity File Number |
001-31822
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Entity Registrant Name |
Accelerate Diagnostics, Inc.
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Entity Central Index Key |
0000727207
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Entity Tax Identification Number |
84-1072256
|
Entity Incorporation, State or Country Code |
DE
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Entity Address, Address Line One |
3950 South Country Club Road
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Suite 470
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Tucson
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AZ
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85714
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520
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365-3100
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AXDX
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NASDAQ
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Grafico Azioni Accelerate Diagnostics (NASDAQ:AXDX)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Accelerate Diagnostics (NASDAQ:AXDX)
Storico
Da Giu 2023 a Giu 2024