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  "documentTitle": "Accelerate Diagnostics (AXDX)",
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  "authorName": "White Diamond Research",
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  "presentationDate": "2019-09-16 00:00:00",
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  "notes": "This is a short-seller research note analyzing the timeline of a clinical study and management's subsequent actions.",
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      "text": "The fact that the results were delayed this long suggests it isn't anything great.",
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      "text": "This study had been completed in November 2018, but no word of it has been revealed so far. Patient follow-up, per study protocol, is 30 days or shorter, meaning that all results should have been available by January 30, 2019.",
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      "text": "Management claims it does not know the study results, but we think that is highly improbable. Trustful relations and communications exist between company reps and clinicians at medical device study sites and the results have been likely known to AXDX immediately after the conclusion of the study, somewhere in February of 2019.",
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      "text": "Nothing happened in the first half of this year. Nothing was presented at the ECCMID Congress in April 2019. Why was it decided to delay the data reporting until October? If the study showed a reduction in the mortality rate, would it be ethical waiting almost a year to reveal the study results? We don't think it would be. Because of the delay one may reasonably assume that the study did not show benefits for the sepsis mortality rate.",
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      "text": "During the Q2 2019 earnings call, AXDX made it look like getting Mayo to lease its Pheno system is evidence of great clinical results. If so, what took Mayo 6 months to commit to a lease? Doesn't it make as much sense to assume that since it took AXDX management a full 6 months to convince Mayo to accept a low commitment lease, perhaps the clinical results weren't so good?",
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      "text": "While we do not control the pace or the timing of the Mayo UCLA study, we anticipate that the results will read out in the first half of this year",
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      "text": "While we do not control the pace or the timing of the Mayo UCLA study, we anticipate that the results will read out in the first half of this year — Larry Mehren",
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