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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": "The slide uses a quote-based analysis to question the credibility of management's focus on 'time to optimal therapy' over 'mortality and length of stay'.",
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      "text": "To us, Mehren’s defensive Q2 comments about the Mayo-UCLA study sounds as a pre-emptive justification for something he already knows.",
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      "text": "At the 2019 ECCMID Congress, we asked industry representatives about the importance of cost saving for rapid diagnostics adoption and whether clinical trials showing LOS reduction is the proper path to success.",
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      "text": "In 2018, before the study results were known, Larry Mehren was very excited to see improvements in mortality and length of stay from the Mayo-UCLA study. Today his excitement is gone, replaced by warnings that the study design was not powered to find the difference in LOS and mortality rates.",
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      "text": "Larry Mehren: 'You’re welcome. And the metric that the study was powered to prove was time to optimal therapy. We do not know what the other endpoints will end up being, but we do know that they’re not powered to statistically show a difference.'",
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      "text": "We found the above comment very telling. The analyst is probing on whether critical outcomes from the study, LOS and mortality rate will show a difference as opposed to a much less meaningful surrogate outcome of 'time to optimal therapy'.",
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      "text": "“You’re welcome. And the metric that the study was powered to prove was time to optimal therapy. We do not know what the other endpoints will end up being, but we do know that they’re not powered to statistically show a difference.” — Larry Mehren",
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