Accelerate Diagnostics (AXDX) Expands in In Vitro Diagnostics
Accelerate Diagnostics, Inc. AXDX has initiated a collaboration and quality agreement with Bruker Corporation BRKR. The deal will help the company advance in vitro diagnostics in microbiology.
With this latest collaboration, Accelerate Diagnostics will be able to strengthen its foothold in the U.S. and EMEA markets.
More on the News
As part of this collaboration, Accelerate Diagnostics' cutting-edge Arc system will integrate with Bruker's MALDI Biotyper sirius instruments and Sepsityper software. The Arc system, which is an automated positive blood culture sample preparation platform, streamlines positive blood culture sample preparation, eliminating the need for overnight culture incubation. This drastically reduces the wait time for identification results.
By leveraging Bruker's MALDI Biotyper system, AXDX addresses cross-reactivity issues associated with rapid molecular tests, offering accuracy and reliability.
Image Source: Zacks Investment Research
A Strategic Deal
The utilization of Bruker's Biotyper system, in conjunction with the Arc system, is likely to reduce the likelihood of cross-reactivity and false positive results that come with rapid molecular tests.
According to the company, the platform economics are more favorable with the Arc system as compared to on-market molecular platforms, especially when laboratories consider that approximately 30% of results are blood culture contaminants resulting in wasted expense.
Further, the total cost to rapidly identify organisms from positive blood cultures is significantly lower than what labs are paying today for a rapid molecular ID solution. With an ongoing clinical trial and regulatory submission on the horizon, Accelerate Diagnostics is on the right track, given the demand for FDA-cleared devices.
Market Prospects
Going by a Markets and Markets report, the global in vitro diagnostics market was estimated to be worth $117.8 billion in 2022 and is poised to reach $138.4 billion by 2027, at a CAGR of 3.3%.
Share Price Performance
Shares of AXDX have plunged 50% over the past year compared with the industry's 3.6% decline.
Zacks Rank & Other Key Picks
Accelerate Diagnostics currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader medical space are Insulet PODD and DexCom DXCM. While Insulet presently sports a Zacks Rank #1 (Strong Buy), DexCom carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for Insulet’s 2023 earnings per share have increased from $1.61 to $1.90 in the past 30 days. Shares of the company have decreased 40.9% in the past year compared with the industry’s decline of 7%.
PODD’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.4%.
Estimates for DexCom’s 2023 earnings per share have increased from $1.23 to $1.41 in the past 30 days. Shares of the company have fallen 7.8% in the past year compared with the industry’s decline of 7.1%.
DXCM’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
DexCom, Inc. (DXCM) : Free Stock Analysis Report
Insulet Corporation (PODD) : Free Stock Analysis Report
Bruker Corporation (BRKR) : Free Stock Analysis Report
Accelerate Diagnostics, Inc. (AXDX) : Free Stock Analysis Report
