Key Developments: Genmark Diagnostics Inc (GNMK.W)
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18 Jun 2013
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Latest Key Developments (Source: Significant Developments)
GenMark Diagnostics Inc Lowers FY 2013 Revenue Guidance
GenMark Diagnostics Inc announced that for fiscal 2013, it is updating its revenue guidance to approximately $30 million from its original estimate of approximately $35 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $36 million for fiscal 2013. Full Article
GenMark Diagnostics Inc Issues FY 2013 Revenue Guidance
GenMark Diagnostics Inc announced that for fiscal 2013, the Company expects revenue to grow by 70% over 2012 levels to approximately $35 million, with a disproportionate amount of the revenue occurring in the first and fourth quarters of the year due to the seasonality of the Company's Respiratory Viral Panel Test, which is highly utilized during the flu season. Full Article
GenMark Diagnostics Inc Raises FY 2012 Revenue Guidance
GenMark Diagnostics Inc announced that for fiscal 2012, based on year to date results, the Company has raised revenue guidance to exceed $18 million. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $15 million for fiscal 2012. Full Article
GenMark Diagnostics Inc Receives FDA Clearance for RVP Test
GenMark Diagnostics Inc announced that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for its eSensor Respiratory Virus Panel for use on its XT-8 system. This test is intended to simultaneously detect and differentiate 14 clinically relevant viruses from patients with influenza-like illness. The eSensor RVP test has the potential to significantly improve patient care by delivering superior co-infection detection, distinguishing Rhinovirus from Enteroviruses and identifying clinically relevant Adenoviruses. Full Article
GenMark Diagnostics Inc And Advanced Liquid Logic, Inc. Finalize Technology And Collaboration Agreements
GenMark Diagnostics Inc and Advanced Liquid Logic, Inc. (ALL) announced that they have executed definitive agreements pursuant to which GenMark and ALL collaborate to develop an all-digital, fully integrated in-vitro diagnostic platform bringing together ALL's electrowetting technology and GenMark's electrochemical detection. The agreements follow from the Heads of Agreement entered into by GenMark and ALL on March 30, 2012. Full Article
GenMark Diagnostics Inc Prices Public Offering of Common Stock
GenMark Diagnostics Inc announced the pricing of an underwritten public offering of 10,000,000 shares of its common stock at a public offering price of $4.20 per share. All of the shares in the offering are being sold by GenMark. The offering is expected to close on June 26, 2012, subject to customary closing conditions. J.P. Morgan Securities LLC is acting as sole book-running manager for the offering. William Blair & Company, LLC and Canaccord Genuity Inc. are acting as co-managers. GenMark has granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares to cover over-allotments, if any. The Company intends to use the net proceeds from the public offering for research and development as it relates to acceleration of menu expansion and development of its NexGen System, as well as expansion of its U.S. and global commercial organizations. Full Article
GenMark Diagnostics Inc Announces Proposed Public Offering Of Common Stock
GenMark Diagnostics Inc announced that it intends to commence an underwritten public offering of 10,000,000 shares of its common stock. All of the shares in the proposed offering are to be sold by GenMark. J.P. Morgan Securities LLC will act as sole book-running manager for the proposed offering. GenMark intends to grant the underwriters a 30-day option to purchase up to an additional 1,500,000 shares to cover over-allotments, if any. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The Company intends to use the net proceeds from the public offering for research and development as it relates to acceleration of menu expansion and development of its NexGen System, as well as expansion of its U.S and global commercial organizations. Full Article
GenMark Diagnostics Inc Raises Q2, FY 2012 Revenue Guidance
GenMark Diagnostics Inc announced that based on year-to-date performance and revised projections, revenue is expected to range from $3.2-$3.6 million in the second quarter of 2012 and to exceed $15 million for fiscal 2012. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $2.4 million for the second quarter of 2012 and $12 million for fiscal 2012. Full Article
GenMark Diagnostics Inc And Advanced Liquid Logic, Inc Enter Into Agreement To Develop All-Electronic Fully Integrated Diagnostic Platform
GenMark Diagnostics Inc and Advanced Liquid Logic, Inc announced that they have entered into a Heads of Agreement defining the key terms of a collaboration to develop an all-electronic, fully integrated in-vitro diagnostic platform bringing together ALL’s proprietary electrowetting technology and GenMark’s proprietary electrochemical detection. Full Article
GenMark Diagnostics Inc Appoints Richard B. Slansky Chief Financial Officer
GenMark Diagnostics Inc announced that it has named Richard B. Slansky as Chief Financial Officer, effective April 23, 2012. Slansky succeeds Paul Ross, who will leave the Company to pursue another career opportunity following an appropriate transition period. Full Article
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