💥New Chapter 11 Bankruptcy Filing - Accelerate Diagnostics Inc.💥
Biotech files to pursue a sale of its assets.
On May 8, 2025, Arizona-based Accelerate Diagnostics Inc. ($AXDX)* and Accelerate Diagnostics Texas, LLC (collectively, the “debtors”) filed chapter 11 bankruptcy cases in the Southern District of Tex … wait, sorry, force of habit when we see a Texas LLC … District of Delaware (Judge Owens) to pursue a sale of assets.
Oh goodie, just what we had been hoping for: another failed biotech company.
Let’s get on with it. CEO Jack Phillips, tell us what this “innovator” does:
“AXDX is a life-saving diagnostics company that develops and markets innovative technologies aimed at improving the rapid identification and antibiotic susceptibility testing of serious infections, particularly bloodstreams infections such as sepsis.
He continued:
These platforms are used by hospitals and clinical microbial laboratories to reduce the time it takes to determine which pathogens (i.e. bacteria or virus) are present in a patient sample and which antibiotics are likely to be effective, enabling more targeted treatment, improved outcomes, and lower healthcare costs.”
Cool, thanks, we’re going to cut you off there.