It is well known that Accelerate Diagnostics (NASDAQ:AXDX) is a controversial stock. Here are the main reasons:
* 11 years of unfulfilled promises about the same product
* No viable commercial product on the immediate horizon
* Scant R&D
* Technology rejected by two major pharma companies, who each had exclusive rights to AXDX's platform for months — and then walked away
* Not a single independent scientific publication on its technology — despite over 30 papers authored by employees, and individuals compensated by the company
* A competitive landscape increasingly crowded with high-credibility and well funded competitors, each aggressively bringing new technologies to market — many already FDA approved and/or Europe CE approval
Citron won't rehash previously published stories about his company's suspect past, but rather focus on the heart of what is new, unreported and publicly sourced. We'll step you through the extraordinary sequence in which the SEC at its finest, forces the company to fess up and abandon its 10+ year misleading overreach of a story about rapid diagnostics using direct from patient blood samples.
This company's claim to innnovative medical diagnostic technology has been exposed by its own filings. It is careening toward irrelevance without a viable product.
(As always, Citron recommends you download the PDF, then right-click to follow the links)