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  "documentTitle": "Accelerate Diagnostics (AXDX)",
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  "authorName": "White Diamond Research",
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  "sourceTypeLabel": "Short seller",
  "presentationDate": "2019-09-16 00:00:00",
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      "kind": "callout",
      "text": "$20 Million In Quarterly Losses Is Significant, Especially As Cash Runs Out",
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      "text": "quarterly losses: $20 Million",
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      "text": "On 8/8/19, AXDX announced that it had hired Jack Phillips for the Chief Operating Officer role, reporting to Larry Mehren. Phillips was President and CEO of Roche Diagnostics, North America. This makes the story interesting, because Larry Mehren served as Senior Vice President and Chief Financial Officer of Ventana Medical Systems, Inc. from 2007 until 2008, and directly reported to Phillips.",
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      "text": "Jack Schuler, AXDX’s largest shareholder and a Director, was the Chairman of the Board of Ventana. Schuler is well acquainted with both Phillips and Mehren and no doubt was influential in hiring Phillips. We think that Schuler and the other directors are hoping that Phillips, as a higher caliber executive, will help AXDX to get out of a prolonged stagnation under the leadership of Mehren’s. This may, however, open the door for significant guidance downgrade, which is scary news for investors.",
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      "text": "As we showed earlier in the report, AXDX’s CEO, Larry Mehren, has done a poor job so far. Of course, it’s mostly not his fault, the Pheno system is a tough sell. From evidence we’ve seen, we speculate that AXDX is on track to replace him.",
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      "kind": "title",
      "text": "Accelerate’s New Executive Hire May Indicate A Coming Change In AXDX Strategy And the Downgrade Revision Of Its Market Guidance",
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