DENVER, June 15 /PRNewswire-FirstCall/ -- Accelr8 Technology
Corporation (Amex: AXK) reported today its third quarter financial results.
The company reported a loss of $788,865 or $0.08 per share on net revenues
of $19,800 for the quarter ended April 30, 2006. In the comparable
three-month period of fiscal 2005, Accelr8 reported a net loss of $562,838
or $0.06 per share on net revenues of $120,104. For the nine-month period
ending April 30, 2006, the company reported a loss of $2,347,470 or $0.24
per share on net revenues of $161,678. For the comparable nine-month period
in fiscal 2005 the company reported a loss of $1,387,160 or $0.14 per share
on net revenues of $382,859. The company's fiscal year ends July 31, 2006.
The company also cited progress with its BACcelr8r(TM) development
project. The new product is being designed to provide bacterial
identification and antibiotic resistance analysis in far less time than
required by current lab culturing methods. Culturing typically requires one
to three days before results become available. Accelr8's management
believes that the BACcelr8r will be able to provide identification and
counts within two hours and antibiotic test results within eight hours.
Research articles in leading medical journals identify delays in starting
effective antibiotics as causing otherwise avoidable mortality, length of
stay and treatment cost in the ICU. The usual cause of initial treatment
failure is antibiotic resistance and the delay in obtaining specific lab
results to guide therapy.
Recently featured articles in the business press have also highlighted
the problem of increasingly widespread antibiotic resistance and the
parallel decline in new antibiotic development. Articles include the cover
story in the June 19 issue of Forbes magazine and articles in the Wall
The company presented a technical poster at the 106th General Meeting
of the American Society for Microbiology (ASM, www.asm.org) on May 23 in
Orlando, FL. The ASM is the leading American professional society for
microbiologists. The title of the presentation is "Direct Observation of
Inducible Clindamycin Resistance in Staphylococcus aureus Using Single Live
The poster is available on the company's Web site (www.accelr8.com). It
describes experiments with the company's novel test for a type of hidden
antibiotic resistance mechanism that now requires special methods in order
to be revealed by culturing. Test results obtained from the company's new
method agreed with those obtained by the special culturing methods. The new
method obtained results in less than five hours, while culturing requires
at least 18 hours after obtaining strain isolates.
According to David Howson, Accelr8's president, "In addition to the
testing time, culturing requires prior enrichment and isolation before
starting the test. This requirement adds many hours, with the result that
isolates are not even available until at least the next day. Our study used
pure reference strains, but we also have evidence that clinical application
will not require strain isolation prior to testing. Because of this, we
believe that the BACcelr8r could produce results in less than eight hours
that now typically require approximately 48 hours by culturing.
"The drug we tested, clindamycin, may become even more important if an
emerging new community-acquired virulent Staph strain continues to spread."
Howson continued. "The Centers for Disease Control has highlighted this as
a worldwide trend. The strain is one of the new so-called 'superbugs'
reported in the press. Only a few antibiotics can suppress the toxin
release as well as block bacterial growth. Clindamycin is one of them, and
is the conservative choice as long as the organisms are susceptible. But
this important antibiotic, and others that work by similar mechanisms, are
vulnerable to a hidden resistance mechanism called 'inducible resistance.'
The same type of resistance also exists in hospital strains.
"Our study demonstrated that our unique Quantum Microbiology(TM)
methods are able to accurately reveal inducible resistance in a fraction of
the time needed by culturing. The study shows that the BACcelr8r has the
potential to perform sophisticated tests quickly and accurately. It also
provides an excellent example of the need for direct live-cell analysis of
resistance. Other methods, such as gene analysis, are not accurate enough.
"The ASM's annual meeting is probably the largest microbiology meeting
of the year. Virtually all significant manufacturers and research
organizations participate. The major new technology presentations featured
gene analysis for screening or identification. The gene studies did not
include tests for antibiotic resistance in suspected infections except with
cultured isolates. Therefore we appear to be leading the field in
addressing the ICU opportunity," Howson concluded.
Accelr8 Technology Corporation (www.accelr8.com) is a developer of
innovative materials and instrumentation for advanced applications in
medical diagnostics, basic research, drug discovery, and bio-detection.
Accelr8 is developing a new diagnostic platform, the BACcelr8r(TM), based
on its proprietary surface coatings, assay processing, and detection
technologies. The company intends the BACcelr8r(TM) to become the world's
first diagnostic system to provide bacterial identification and
quantitation in 2 hours or less, and complete antibiotic resistance strain
identification in 8 hours or less. Standard culturing typically delays lab
results from one to three days, which is far beyond the short time window
that physicians have available to assure adequate initial therapy for a
life-threatening hospital acquired infection (HAI).
SOURCE Accelr8 Technology Corporation