DENVER, Dec. 15 /PRNewswire-FirstCall/ -- Accelr8 Technology Corp.
(Amex: AXK) today reported a loss of $772,038, or $0.08 per share, on net
revenues of $86,388 in its first fiscal quarter ended Oct. 31, 2005. In the
comparable quarter of fiscal 2005, Accelr8 reported a net loss of $509,800 or
$0.05 per share on net revenues of $21,724.
The company is currently focused on the development of the BACcelr8r(TM)
diagnostic system, which when fully developed, has the potential to replace
bacterial culturing by producing test results in a matter of hours. This is
in contrast to current methods of traditional culturing which typically take
"The BACcelr8r embodies all three of Accelr8's wholly owned core
technologies: OptiChem surface chemistry, QuanDx optical detection, and
YoDx(TM) accelerated assay processing," said David Howson, Accelr8 Technology
president. "We believe the same integrated technology combination will
provide a platform for molecular analysis, as used in genomics and proteomics,
and molecular diagnostics. We expect the benefits of BACcelr8r to be very
high sensitivity, rapid results, high reproducibility, and relatively low cost
per test and expect the BACelr8r will be initially used in the ICU (intensive
care units) of hospitals for the diagnosis and treatment assessment of VAP
(ventilator associated pneumonia)."
In fiscal 2006 Accelr8 intend to complete technical studies on materials
and processes to be used in the BACcelr8r system. The Company believes the
BACcelr8r will significantly speed up bacterial testing and improve treatment
outcomes. By developing and selling the system, the Company intends to
generate revenues and prove the value of the technology to large diagnostic
companies. Accelr8 believes the most significant achievement of the BACcelr8r
may be its ability to provide the physician with rapid antibiotic
susceptibility tests results.
Accelr8 Technology Corporation (www.accelr8.com) is a developer of
innovative materials and instrumentation for advanced applications in medical
instrumentation, basic research, drug discovery, and bio-detection. In
addition to its microarraying products, Accelr8 is also developing a rapid
clinical pathogen platform, the BACcelr8r(TM), based on its innovative surface
coatings, assay processing, and detection technologies.
Amex Symbol: AXK 52-week High/Low: $3.50/$1.99
Price per Share: $3.00 / Dec 14, 2005
Market Capitalization: $29.88 million
Safe Harbor for Forward-Looking Statements
Certain statements in this news release may be "forward-looking
statements" within the meaning of Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Statements regarding future prospects and developments are based
upon current expectations and involve certain risks and uncertainties that
could cause actual results and developments to differ materially from the
forward-looking statement, including those detailed in the company's filings
with the Securities and Exchange Commission. Accelr8 does not undertake an
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information or future events.
SOURCE Accelr8 Technology Corporation