2014

Accelr8 Announces Third Quarter Results and BACcelr8r(TM) Progress

    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
 Street Journal.
     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
 Cell Imaging."
     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.
     About Accelr8
     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

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