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Selling, general, and administrative expenses were $49.2 million for the year, compared to $46.9 million in 2020.This decrease was the result of pandemic-related effects on manufacturing. Gross margin excluding non-cash adjustments to inventory valuation was 35% for the year, compared to 40% for the prior year.Net sales were $11.8 million for the year as compared to $11.2 million from the same period in the prior year, or 5% growth.Net cash used in the quarter was $13.3 million, and the company ended the quarter with total cash, investments, and cash equivalents of $63.6 million.Net loss excluding non-cash charges was $15.3 million in the fourth quarter, or $0.23 per share. Net loss was $22.8 million in the fourth quarter, or $0.34 per share, which included $3.0 million in non-cash stock-based compensation expense and $4.5 million from a non-cash inventory write-down.This decrease was the result of Arc costs decreasing in the period partially offset by increases in Pheno II program investment. Research and development (R&D) costs for the quarter were $4.6 million, compared to $5.1 million in the fourth quarter of 2020.Excluding non-cash stock-based compensation expense, SG&A costs decreased due to cost savings initiatives. This slight increase was driven by increases to non-cash stock-based compensation expense. Selling, general, and administrative expenses for the quarter were $11.5 million, compared to $11.2 million in the fourth quarter of 2020.Gross margin excluding non-cash adjustments to inventory was 35% for the quarter, compared to 37% in the fourth quarter of 2020.Net sales of $3.3 million, compared to $3.1 million in the fourth quarter of 2020, or a 6% increase.contracted Pheno instruments not yet live. live revenue-generating instruments, with another 81 U.S. Ended the fourth quarter with 313 U.S.Additionally, contracted 14 Pheno instruments with distributors and new customers in EMEA in the quarter.Added 16 contracted instruments in the quarter and brought 13 instruments live in the U.S.
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We expect continued improvement in our level of commercial activity on the back of strong interest in these new products and an improved hospital environment in 2022." The new PhenoAST Test Kit is being well received in the market, and customer interest for Accelerate Arc is accelerating ahead of our launch later this month. Strong R&D execution in 2021 has enabled the sale and early marketing of our expanded product portfolio. Jack Phillips, Chief Executive Officer of Accelerate Diagnostics, Inc., commented, "The addition of new contracts, clinically live customers, and new prospects to our sales funnel, made the fourth quarter our most commercially productive quarter of the year.
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(Nasdaq: AXDX) today announced financial results for the fourth quarter and full year ended December 31, 2021. It cannot be reinstalled on another PC.TUCSON, Ariz., Ma/PRNewswire/ - Accelerate Diagnostics, Inc.
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#EASE DIAGNOSTICS BANKRUPT UPDATE#
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