GenMark Diagnostics Provides Preliminary Operational and Fiscal Results for 2020

Push launch written content from World Newswire. The AP news workers was not included in its creation.

CARLSBAD, Calif., Jan. 11, 2021 (World NEWSWIRE) — GenMark Diagnostics, Inc. (NASDAQ: GNMK), a leading supplier of automated, multiplex molecular diagnostic testing systems, currently delivered preliminary operational and economic benefits for the 12 months finished December 31, 2020.

Economical Highlights

• Complete earnings for 2020 is predicted to be about $171 million, representing an enhance of about 95% in excess of 2019
  • ePlex® profits for the complete 12 months 2020 is envisioned to be close to $152 million, an boost of 155% in excess of 2019
• Complete earnings for the fourth quarter of 2020 is expected to be roughly $50 million, representing an improve of 84% around the fourth quarter of 2019
  • ePlex profits for the fourth quarter of 2020 is envisioned to be approximately $45 million, an raise of 138% around the fourth quarter of 2019
• Gross margin is predicted to be somewhere around 39% for the fourth quarter of 2020 and involving 39% and 40% for the entire year 2020

Operational Highlights

• Positioned 70 internet new ePlex analyzers in the fourth quarter of 2020, finishing the year with an put in foundation of 792 ePlex analyzers placed around the globe
  • ePlex set up foundation grew 50% year above 12 months
• Fourth quarter annuity was close to $220,000 per analyzer, in contrast to close to $148,000 in the fourth quarter of 2019
• Enhanced manufacturing capability by extra than 75% as opposed to prior calendar year with the completion of the 1st of two new creation strains throughout the quarter

“Fourth quarter desire remained really strong, driven by our ePlex RP2 and blood society ID panels that deliver broad pathogen coverage and simplified workflow with hands on time of a single minute or fewer,” explained Scott Mendel, President and Main Government Officer. “During the quarter, we validated the very first of our two new ePlex manufacturing strains that boosts our creation capacity to around 160,000 ePlex checks for every month and we continue to be on keep track of to validate the next line in the quite close to long run.”

“With multi-calendar year contracts that contain fully commited volumes, GenMark has developed an enduring and recurring profits stream that provides visibility to driving continued leading line advancement in 2021. I’m happy of the overall GenMark corporation, as we remained dedicated to our crucial priorities and delivered extraordinary results during the total yr underneath extraordinary instances,” concluded Mendel.

These preliminary outcomes are based on management’s first examination of operations for the quarter and yr ended December 31, 2020 and are topic to further internal evaluation and audit by the company’s exterior auditors. The business expects to difficulty whole 2020 money success and 2021 direction in late February.

About GenMark Diagnostics
GenMark Diagnostics (NASDAQ: GNMK) is a primary service provider of multiplex molecular diagnostic solutions intended to improve individual treatment, enhance important good quality metrics, and decrease the total expense-of-treatment. Employing GenMark’s proprietary eSensor® detection know-how, GenMark’s eSensor XT-8® and ePlex® devices are made to guidance a broad vary of molecular diagnostic checks with compact, straightforward-to-use workstations and self-contained, disposable exam cartridges. GenMark’s ePlex: The Genuine Sample-to-Answer Solution™ is built to enhance laboratory effectiveness and tackle a wide array of infectious disorder screening requirements, including respiratory, bloodstream, and gastrointestinal bacterial infections. For far more details, stop by www.genmarkdx.com.

Ahead Seeking Statements
This press launch contains ahead-searching statements relating to activities, trends and business enterprise potential clients, which may perhaps affect our foreseeable future running benefits and monetary placement. These statements, together with, but not confined to, individuals pertaining to our preliminary, unaudited financial and operational performance, anticipated boosts to our ePlex producing capability, and the timely Fda clearance and commercialization of additional ePlex panel menu, are all topic to hazards and uncertainties that could cause our true effects and economical position to differ materially. Some of these dangers and uncertainties incorporate, but are not minimal to, our ability to successfully validate further ePlex manufacturing lines and commercialize our ePlex process and its related examination menu in a timely manner, constraints or inefficiencies brought on by unanticipated acceleration and deceleration of buyer demand, our capacity to correctly grow profits of our product choices outside the United States, and 3rd-celebration payor reimbursement to its prospects, as nicely as other threats and uncertainties explained under the “Risk Factors” in our community filings with the Securities and Trade Fee. We think no responsibility to update or revise any ahead-hunting statements to mirror occasions, developments or conditions immediately after the date they are designed.

Trader Relations Contact
Leigh Salvo
(415) 937-5404
[email protected]