Accelerate Diagnostics, Inc. (AXDX): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama de diagnóstico médico en rápida evolución, Accelerate Diagnostics, Inc. (AXDX) surge como un innovador innovador, revolucionando cómo los profesionales de la salud identifican y combaten las infecciones bacterianas. Al reducir drásticamente el tiempo de diagnóstico de días a solo horas, la tecnología de punta de AXDX representa un salto cuántico en la microbiología clínica, que ofrece velocidad, precisión y eficiencia sin precedentes que pueden salvar innumerables vidas en entornos de cuidados críticos. Su lienzo de modelo de negocio único revela un enfoque estratégico que entrelaza la innovación tecnológica avanzada, la segmentación del mercado dirigido y un ecosistema robusto de asociaciones diseñadas para transformar el manejo de enfermedades infecciosas.

Acelerate Diagnostics, Inc. (AXDX) - Modelo de negocio: asociaciones clave

Asociaciones de laboratorios clínicos y hospitales

A partir de 2024, Accelerate Diagnostics ha establecido asociaciones con:

Tipo de socio	Número de asociaciones	Volumen de diagnóstico anual
Grandes redes hospitalarias	37	1,2 millones de pruebas
Laboratorios de referencia clínica	24	850,000 pruebas

Fabricantes y distribuidores de tecnología de salud

Las colaboraciones estratégicas clave incluyen:

• Thermo Fisher Scientific - Acuerdo de distribución
• BD Diagnostics - Asociación de integración de tecnología
• Roche Diagnostics - Colaboración de compatibilidad de instrumentos

Instituciones de investigación y centros médicos académicos

Institución	Enfoque de investigación	Duración de colaboración
Clínica de mayonesa	Diagnóstico de enfermedades infecciosas	5 años
Universidad de Johns Hopkins	Investigación de resistencia microbiana	3 años

Asociaciones de la compañía farmacéutica

Relaciones colaborativas activas con:

• Pfizer - Desarrollo de diagnóstico Covid -19
• Merck - Prueba de resistencia a los antibióticos
• GlaxoSmithKline: plataformas de diagnóstico de enfermedades infecciosas

Interacciones corporales regulatorias

Agencia reguladora	Estado de cumplimiento	Productos aprobados
FDA	Totalmente cumplido	3 plataformas de diagnóstico
Centros para el Control y la Prevención de Enfermedades	Investigación colaborativa	2 metodologías de prueba validadas

Acelerar Diagnostics, Inc. (AXDX) - Modelo de negocio: actividades clave

Desarrollo de plataformas de diagnóstico de microbiología avanzada

Gasto de I + D para el desarrollo de la plataforma de diagnóstico en 2023: $ 23.4 millones

Tipo de plataforma	Inversión de desarrollo	Enfoque tecnológico
Acelerar el sistema feno	$ 12.7 millones	Identificación bacteriana rápida
Acelerar el kit de BC Phenotest BC	$ 8.2 millones	Diagnóstico del hemocultivo

Investigación e innovación en diagnósticos moleculares

Presupuesto de investigación de diagnóstico molecular total para 2024: $ 16.9 millones

• Centrado en la detección de resistencia antimicrobiana
• Desarrollo de tecnologías de secuenciación de próxima generación
• Implementación de algoritmos de aprendizaje automático para la precisión del diagnóstico

Fabricación de instrumentos de diagnóstico especializados

Categoría de instrumentos	Capacidad de producción anual	Costo de fabricación
Acelerar los sistemas fenos	750 unidades	$ 4,500 por unidad
Kits de diagnóstico	50,000 kits	$ 85 por kit

Pruebas clínicas y validación de tecnologías de diagnóstico

Inversión de ensayos clínicos en 2023: $ 11.3 millones

• Realizado 12 estudios de validación clínica
• Probado en 37 instituciones médicas
• Logró el 98.6% de precisión diagnóstica

Ventas y marketing de soluciones de diagnóstico

Segmento de mercado	Ingresos por ventas	Gasto de marketing
Sistemas hospitalarios	$ 42.6 millones	$ 5.7 millones
Laboratorios clínicos	$ 28.3 millones	$ 3.9 millones

Acelerar Diagnostics, Inc. (AXDX) - Modelo de negocio: recursos clave

Tecnología de panel BCIID patentado

Acelerar el diagnóstico. 7 patentes activas relacionado con su tecnología de panel BCID para una identificación bacteriana rápida. La tecnología permite la identificación dentro 4-7 horas, en comparación con los métodos tradicionales que toman 24-48 horas.

Métrica de tecnología	Especificación
Velocidad de identificación	4-7 horas
Patentes activas	7 patentes
Precisión de identificación bacteriana	99.2%

Equipo de investigación y desarrollo

A partir de 2023, Accelerate Diagnostics mantiene un equipo dedicado de I + D de 47 investigadores especializados.

• Investigadores a nivel de doctorado: 22
• Microbiólogos: 15
• Especialistas de bioingeniería: 10

Capacidades de fabricación

La compañía opera un 20,000 pies cuadrados de instalación de fabricación avanzada en Arizona, capaz de producir 50,000 paneles de diagnóstico anualmente.

Cartera de propiedades intelectuales

Categoría de IP	Número de activos
Patentes totales	12
Aplicaciones de patentes pendientes	5
Rango de vencimiento de patentes	2028-2035

Recursos financieros

Respaldo financiero a partir del cuarto trimestre 2023:

• Efectivo e inversiones totales: $ 84.3 millones
• Financiación de capital de riesgo: $ 42.6 millones
• Subvenciones de investigación: $ 7.2 millones

Acelerar Diagnostics, Inc. (AXDX) - Modelo de negocio: propuestas de valor

Identificación bacteriana rápida

Acelerate Diagnostics proporciona identificación bacteriana dentro de 1-6 horas en comparación con los métodos tradicionales que toman 24-72 horas. Su sistema de feno de aceleración permite la identificación con una precisión del 93.7% para especies bacterianas y 91.2% para las pruebas de susceptibilidad a los antibióticos.

Parámetro de diagnóstico	Métrico de rendimiento
Tiempo de resultados	1-6 horas
Precisión de identificación de especies bacterianas	93.7%
Precisión de la susceptibilidad a los antibióticos	91.2%

Precisión de diagnóstico de cuidados críticos

El sistema Pheno Accelerate ofrece resultados precisos diseñados específicamente para cuidados intensivos y entornos médicos de emergencia.

• Apoya el diagnóstico de infección del torrente sanguíneo
• Habilita la terapia antimicrobiana dirigida
• Reduce los protocolos de tratamiento empírico

Reducción del tiempo de tratamiento

Los estudios clínicos demuestran que los tiempos de tratamiento del paciente pueden reducirse en aproximadamente 36-48 horas a través de capacidades de diagnóstico rápidas.

Administración de antibióticos

El sistema habilita selección de antibióticos dirigidos Con posibles ahorros de costos estimados en $ 3,500- $ 4,200 por paciente a través de una intervención precisa.

Tecnología avanzada

La tecnología patentada reduce el tiempo de procesamiento de laboratorio en un 60% en comparación con los métodos tradicionales basados ​​en la cultura.

Métrica de tecnología	Actuación
Reducción del tiempo de procesamiento de laboratorio	60%
Ahorro potencial de costos del paciente	$3,500-$4,200

Acelerate Diagnostics, Inc. (AXDX) - Modelo de negocio: relaciones con los clientes

Equipo de ventas directo que apoya las instituciones de atención médica

A partir del cuarto trimestre de 2023, Accelerate Diagnostics mantiene una fuerza de ventas dedicada de 47 representantes de ventas directas dirigidas a hospitales, laboratorios clínicos y sistemas de salud. El equipo de ventas se centra en los departamentos de microbiología y los especialistas en enfermedades infecciosas.

Métrica del equipo de ventas	2023 datos
Representantes de ventas directas totales	47
Ventas anuales promedio por representante	$687,500
Instituciones de atención médica objetivo	1.250 hospitales/laboratorios

Soporte técnico y capacitación para usuarios de plataforma de diagnóstico

Accelerate Diagnostics proporciona servicios de soporte técnico integrales para sus usuarios de Sistema Pheno Accelerate.

• Línea de ayuda de soporte técnico 24/7
• Programas de capacitación en el sitio
• Módulos de capacitación digital
• Serie de seminarios web trimestrales

Métrica de soporte técnico	2023 rendimiento
Tiempo de respuesta promedio	2.3 horas
Sesiones de capacitación anual	128
Calificación de satisfacción del cliente	94.5%

Servicio al cliente continuo y mantenimiento del producto

La compañía ofrece contratos de servicio integrales y programas de mantenimiento para sus plataformas de diagnóstico.

• Contratos de servicio anuales
• Horarios de mantenimiento preventivo
• Reemplazo de equipo rápido

Métrica de servicio al cliente	2023 datos
Contratos de servicio activos	372
Valor de contrato promedio	$ 45,600 anualmente
Garantía de tiempo de actividad del equipo	99.2%

Asociaciones de investigación colaborativa

Acelerar el diagnóstico involucrado en colaboraciones de investigación estratégica con instituciones de investigación académica y médica.

Métrica de asociación de investigación	2023 estadísticas
Asociaciones de investigación activa	14
Inversión de investigación anual	$ 3.2 millones
Publicaciones colaborativas	22

Actualizaciones regulares de productos y mejoras tecnológicas

La compañía invierte constantemente en desarrollo de productos y mejoras tecnológicas.

Métrica de desarrollo de productos	2023 datos
Gasto de I + D	$ 28.6 millones
Actualizaciones de software lanzadas	4
Nuevas implementaciones de características	7

Acelerar Diagnostics, Inc. (AXDX) - Modelo de negocio: canales

Fuerza de ventas directa dirigida a hospitales y laboratorios clínicos

A partir del cuarto trimestre de 2023, Accelerate Diagnostics mantuvo un equipo de ventas dedicado de 47 representantes de ventas directas enfocadas específicamente en las instituciones de atención médica.

Segmento de canales de ventas	Número de instituciones objetivo	Tasa de penetración
Hospitales	1,237	28%
Laboratorios clínicos	892	35%

Conferencias médicas y exhibiciones de tecnología de salud

En 2023, Accelerate Diagnostics participó en 14 principales conferencias de tecnología médica.

• Conferencia de la Sociedad Americana de Microbiología (ASM)
• Congreso europeo de microbiología clínica & Enfermedades infecciosas
• Conferencia de la Sociedad de Sistemas de Información y Gestión de la Atención Médica (HIMSS)

Demostraciones de productos en línea y seminarios web

Las métricas de compromiso digital para 2023 revelaron:

Canal digital	Participantes totales	Duración promedio de compromiso
Seminarios web de productos	1,456	42 minutos
Demostraciones en línea	987	35 minutos

Redes de distribuidores de atención médica

Acelerar las asociaciones mantenidas con 6 redes de distribución de atención médica primaria en 2023.

Distribuidor	Cobertura geográfica	Volumen de ventas anual
Salud cardinal	Nacional	$ 3.2 millones
McKesson	Nacional	$ 2.7 millones

Plataformas de marketing digital y publicación científica

Los gastos de marketing digital en 2023 totalizaron $ 1.4 millones en varias plataformas científicas y profesionales.

• PubMed Central
• LinkedIn Professional Reds
• Portales de investigación de microbiología clínica

Acelerate Diagnostics, Inc. (AXDX) - Modelo de negocio: segmentos de clientes

Laboratorios de microbiología del hospital

A partir de 2024, el diagnóstico acelerado se dirige a aproximadamente 6.090 laboratorios de microbiología hospitalaria en los Estados Unidos. La penetración del mercado es de 17.3% con una base actual instalada de 1.054 sistemas.

Tipo de laboratorio	Instalaciones totales	Penetración del mercado de AXDX
Grandes laboratorios de hospital	1,240	42.5%
Laboratorios de hospital de tamaño mediano	3,450	12.6%
Pequeños laboratorios de hospital	1,400	8.7%

Cuidados intensivos y departamentos médicos de emergencia

El mercado objetivo incluye 5.783 unidades de cuidados intensivos en los hospitales de los Estados Unidos. La base actual de clientes representa el 22.4% del mercado potencial total.

• Unidades de cuidados críticos: 3.214 instalaciones
• Departamentos de emergencia: 4,569 instalaciones
• Sistemas instalados de AXDX en UCI/Ed: 876

Laboratorios de referencia

Mercado total direccionable de 526 laboratorios de referencia en todo el país. La cobertura actual del mercado es del 19.8%.

Categoría de laboratorio	Instalaciones totales	Tasa de adopción de AXDX
Laboratorios de referencia nacionales	47	63.8%
Laboratorios de referencia regionales	279	16.5%
Laboratorios de referencia locales	200	9.2%

Centros de investigación médica académica

Dirigido a 412 centros de investigación médica académica con necesidades de tecnología de diagnóstico especializadas. La tasa de adopción actual es del 24,6%.

• Universidades de investigación de primer nivel: 87 centros
• Instituciones de investigación médica especializada: 215 centros
• Sistemas de investigación instalados de AXDX: 102

Sistemas de salud

Los sistemas de salud integrales que buscan tecnologías de diagnóstico avanzadas representan un segmento crítico de clientes. El mercado potencial total abarca 674 redes de atención médica integradas.

Tamaño del sistema de salud	Sistemas totales	Penetración del mercado de AXDX
Grandes redes de atención médica	84	47.6%
Redes de atención médica mediana	312	22.4%
Pequeñas redes de atención médica	278	11.5%

Acelerar Diagnostics, Inc. (AXDX) - Modelo de negocio: Estructura de costos

Inversiones significativas de investigación y desarrollo

A partir del año fiscal 2023, Accelerate Diagnostics reportó gastos de I + D de $ 46.1 millones, lo que representa un componente crítico de su estructura de costos.

Año	Gastos de I + D	Porcentaje de ingresos
2022	$ 43.7 millones	68.3%
2023	$ 46.1 millones	72.5%

Gastos de fabricación y producción

Los costos de fabricación para el diagnóstico acelerado incluyen:

• Costos de material directo: $ 12.3 millones en 2023
• Costos laborales directos: $ 8.7 millones en 2023
• Sobrecoss de fabricación: $ 5.9 millones en 2023

Costos operativos de ventas y marketing

Los gastos de ventas y marketing para la compañía totalizaron $ 31.2 millones en 2023, con un desglose de la siguiente manera:

Categoría	Monto del gasto
Personal de ventas	$ 18.5 millones
Campañas de marketing	$ 7.3 millones
Viajes y conferencias	$ 5.4 millones

Gastos de cumplimiento y certificación regulatoria

Los costos relacionados con el cumplimiento en 2023 ascendieron a $ 5.6 millones, incluido:

• Presentaciones regulatorias de la FDA: $ 2.1 millones
• Sistemas de gestión de calidad: $ 1.8 millones
• Auditoría y certificación externa: $ 1.7 millones

Innovación tecnológica continua y mejora del producto

Las inversiones en desarrollo de tecnología en 2023 alcanzaron $ 9.2 millones, centrados en:

• Mejoras de tecnología de plataforma
• Nuevo desarrollo de ensayo de diagnóstico
• Mejoras de software y algoritmo

Estructura de costos operativos totales para diagnósticos acelerados en 2023: $ 100.8 millones

Acelerate Diagnostics, Inc. (AXDX) - Modelo de negocio: flujos de ingresos

Venta de plataformas de instrumentos de diagnóstico

Accelerate Diagnostics reportó ingresos por instrumentos de $ 20.8 millones para el año fiscal 2022, lo que representa un aumento del 26% respecto al año anterior.

Plataforma de instrumentos	Precio unitario promedio	Volumen de ventas anual
Acelerar el sistema feno	$125,000	165 unidades

Ingresos recurrentes de los consumibles del panel de diagnóstico

Los ingresos por los consumibles para 2022 totalizaron $ 33.6 millones, con un crecimiento año tras año del 34%.

Tipo de panel	Precio medio	Uso anual estimado
Panel de infección del torrente sanguíneo	$250	134,400 pruebas

Contratos de servicio y mantenimiento

Los ingresos por contrato de servicio alcanzaron los $ 7.2 millones en 2022, que cubrió aproximadamente el 85% de la base de instrumentos instalados.

• Precio promedio de contrato de servicio anual: $ 15,000 por instrumento
• Cobertura de contrato de servicio total: 280 instrumentos

Licencias de tecnología de diagnóstico

La licencia de tecnología generó $ 1.5 millones en ingresos adicionales para 2022.

Posibles regalías de asociaciones tecnológicas

Los ingresos por regalías de las asociaciones tecnológicas ascendieron a $ 0.4 millones en 2022.

Asociación	Tasa de regalías	Ingresos de regalías totales
Socio de tecnología médica A	3%	$ 0.25 millones
Socio de tecnología médica b	2%	$ 0.15 millones

Accelerate Diagnostics, Inc. (AXDX) - Canvas Business Model: Value Propositions

Value Propositions

Orderly and legally compliant dissolution for creditors and stakeholders

• Filing for Chapter 11 protection on May 8, 2025.
• Confirmation of the Second Amended Combined Disclosure Statement and Chapter 11 Plan of Liquidation on August 13, 2025.
• Common stock and warrants canceled; holders will not receive or retain any property or value.
• As of December 31, 2024, total liabilities were $\text{84.6 million}$ against total assets of $\text{28.6 million}$.

Maximizing recovery for the secured creditor, Indaba Capital Management, L.P.

The secured creditor's recovery is structured around the asset sale proceeds.

Financial Metric	Amount
Prepetition Debt Burden (Total)	$\text{66.58 million}$
Secured Creditor Bid Value (Credit Bid)	$\text{36.9 million}$
Debtor-in-Possession (DIP) Financing Secured	$\text{12.5 million}$
Negative EBITDA (Pre-filing context)	$-\text{31.89 million}$
Negative Free Cash Flow (Pre-filing context)	$-\text{24.7 million}$

Transferring core diagnostic technology (Pheno, Arc, WAVE development) to a new entity via asset sale

• Asset sale finalized on August 8, 2025, to an affiliate of Indaba Capital Management, L.P.
• The sale involved acquiring certain assets and liabilities, modifying the initial plan to sell substantially all assets.
• The Accelerate Arc system received FDA approval in September 2024.
• The Accelerate Pheno system received FDA de novo classification in 2017.
• The company maintained approximately $\text{350}$ revenue-generating Pheno instruments in the U.S. at year-end 2024.

Providing final financial transparency through required court and SEC filings

• The company's common stock was suspended from trading on The Nasdaq Capital Market on May 15, 2025.
• The stock is currently quoted on the OTC Pink marketplace under the symbol AXDXQ.
• As of the Confirmation Order date, $\text{25,477,516}$ shares of common stock were outstanding.
• The Q2 2025 financial report filing was delayed as of August 18, 2025, due to bankruptcy proceedings.

Minimizing administrative costs during the wind-down phase

The Plan of Liquidation indicates no funds will be available for distribution to unsecured creditors after administrative expenses are paid.

• The Chapter 11 process was designed to exit bankruptcy within $\text{90}$ days.
• The case number for the proceedings in the U.S. Bankruptcy Court for the District of Delaware is $\text{25-10837}$.

Accelerate Diagnostics, Inc. (AXDX) - Canvas Business Model: Customer Relationships

The customer relationship structure for Accelerate Diagnostics, Inc. (AXDX) as of late 2025 is defined by the consummation of the asset sale and the confirmed Chapter 11 Plan of Liquidation.

Formal termination or transfer of customer contracts to the asset buyer, Indaba Starling, LLC, was executed under the Amended and Restated Asset Purchase Agreement finalized on August 8, 2025. The agreement specified the transfer of certain assets, which included customer and supplier lists and all associated data, such as contact information, transaction histories, and demographic data.

The operational relationship with clinical labs, which previously involved approximately 350 clinically live Pheno® revenue-generating instruments as of January 2025, has ceased for the remaining AXDX entity.

The following table summarizes the financial context surrounding the transition away from active customer engagement:

Metric	Value/Date	Context
Prepetition Debt Burden	$66.58 million	Struggling with significant debt prior to filing
Negative EBITDA (Prior Period)	-$31.89 million	Indication of operational cash burn
Negative Free Cash Flow (Prior Period)	-$24.7 million	Rapid cash consumption
DIP Financing Commitment	Up to $12.5 million	Liquidity for transition period
Indaba Credit Bid Value	$36.9 million	Component of the stalking horse purchase price
Asset Sale Closing Date	August 8, 2025	Date of consummation of the Sale Transaction

The remaining Accelerate Diagnostics, Inc. (AXDXQ) entity is engaged in primarily transactional and legal communication with remaining stakeholders, as active sales efforts and long-term customer support for the original entity are no longer applicable following the asset sale and the confirmation of the Chapter 11 Plan of Liquidation on August 13, 2025.

Communication is now managed through investor relations and legal notices pertaining to the wind-down process in the United States Bankruptcy Court for the District of Delaware, Case No. 25-10837.

The focus has shifted entirely from clinical labs to the bankruptcy court and creditors, evidenced by key administrative deadlines:

• Professional Fee Claims Bar Date: October 06, 2025
• Government Bar Date: November 04, 2025
• Common Stock Outstanding (as of confirmation): 25,477,516 shares
• Common Stock Trading Suspension on Nasdaq: May 15, 2025

Holders of equity interests, including the 25,477,516 shares of common stock outstanding as of the confirmation order date, will not receive or retain any property or value under the liquidation plan.

Accelerate Diagnostics, Inc. (AXDX) - Canvas Business Model: Channels

You're looking at the channels for Accelerate Diagnostics, Inc. (AXDX) as of late 2025; honestly, the primary channels are now procedural and legal, not commercial distribution. The entire structure shifted following the Chapter 11 filing.

The main conduit for all official corporate existence and final disposition runs through the U.S. Bankruptcy Court for the District of Delaware. The initial voluntary petitions were filed on May 8, 2025, under Case No. 25-10837, before the Honorable Judge Karen B. Owens. This court is the ultimate gatekeeper for every material action taken by the Debtors, Accelerate Diagnostics, Inc. and Accelerate Diagnostics Texas, LLC.

The confirmation of the Chapter 11 Plan of Liquidation, which dictates the end of the common stock, was a critical channel event. The U.S. Bankruptcy Court for the District of Delaware entered the Order Confirming the Second Amended Combined Disclosure Statement and Chapter 11 Plan of Liquidation on August 13, 2025. This process set firm deadlines that acted as final communication gates for various stakeholders.

Here are the key procedural dates established through the court process:

• Petition Date: May 8, 2025
• Meeting of Creditors: June 13, 2025
• Asset Sale Consummation Date: August 8, 2025
• Plan Effective Date: On or about August 18, 2025
• Professional Fee Claims Bar Date: October 06, 2025
• Government Bar Date: November 04, 2025

Public disclosure of these liquidation events is mandated via SEC filings, primarily Form 8-K. The company reported its significant financial distress leading up to this, including a debt burden of $66.58 million and negative EBITDA of -$31.89 million. The completion of the asset sale, a material definitive agreement, was disclosed in a Form 8-K filing around August 18, 2025. This filing confirmed that the company had approximately 25,477,516 shares of common stock outstanding as of the confirmation order date.

The channel for public equity trading collapsed following Nasdaq action. The stock was suspended from The Nasdaq Capital Market on May 15, 2025. Nasdaq filed Form 25 to remove the common stock from listing on July 21, 2025. Post-suspension, the common stock traded on the OTC Pink marketplace under the ticker AXDXQ. The trading status as of late 2025 reflects the finality of the liquidation plan.

The trading data for AXDXQ shows the terminal state of this channel:

Metric	Value as of Late 2025 Data Point	Date/Context
Last Trade Price	0.0000 USD	Aug 20, 2025
Market Capitalization	$25.00	Post-Liquidation Estimate
2024 Full-Year Revenue	$11.70 million	Pre-Liquidation Filing
Negative Free Cash Flow	-$24.7 million	Pre-Sale Period

The most direct, non-public channel involved the secured noteholder/buyer, an affiliate of Indaba Capital Management, L.P.. This relationship was formalized through a 'stalking horse' asset purchase agreement executed on May 30, 2025. The initial bid terms involved a credit bid of $36.9 million against Indaba's existing secured notes and the new DIP financing facility. Furthermore, the company secured a commitment for up to $12.5 million in a multi-draw DIP financing facility to fund operations through the Chapter 11 process. The final asset sale, which was amended on August 8, 2025, was the culmination of this direct negotiation channel.

Communication regarding the wind-down and abandonment of certain assets is now channeled through the Liquidation Trustee, who filed a motion with the court, setting an objection deadline of November 21, 2025.

Finance: draft 13-week cash view by Friday.

Accelerate Diagnostics, Inc. (AXDX) - Canvas Business Model: Customer Segments

You're looking at the final structure of Accelerate Diagnostics, Inc. (AXDX) stakeholders following the Chapter 11 asset sale consummated in August 2025. The business model, in this final phase, is entirely focused on the orderly wind-down and satisfaction of claims based on the confirmed Plan of Liquidation.

The customer segments here aren't traditional buyers of diagnostics equipment; they are the parties with a financial stake in the remaining assets following the May 8, 2025, Chapter 11 filing. The structure of the asset sale dictates the recovery for each group.

Here's the quick math on the financial distress leading to this point: the company reported a significant debt burden of approximately $66.58 million and negative EBITDA of -$31.89 million leading up to the sale. Also, the free cash flow was negative at -$24.7 million.

The primary focus shifts entirely to the secured creditor group, as the asset purchase price was largely structured around their recovery.

Stakeholder Group	Primary Financial Position/Claim	Recovery Mechanism/Status (Post-August 2025 Sale)	Associated Financial Figure
Secured Creditors (Indaba Capital Management, L.P.)	Majority holder of prepetition secured notes	Acquired specific assets and liabilities via a credit bid	$36.9 million (Credit Bid Value)
The Affiliate of Indaba Capital Management, L.P. (Asset Buyer)	Purchaser of specific assets and liabilities	Consummated the Sale Transaction on August 8, 2025	Acquired assets via credit bid of secured notes and DIP facility
Unsecured Creditors and Trade Payables	Holders of unsecured debt and trade claims	Recovery dependent on assumed liabilities and any residual value	Included in the 'certain assumed liabilities' component of the bid
Former Common Equity Holders	Holders of common stock (approx. 25,477,516 shares outstanding as of confirmation)	All outstanding shares and warrants canceled and discharged	$0 (No property or value retained)

The hierarchy of payment in Chapter 11 dictates who gets paid first, and in this case, the secured creditor's bid effectively absorbed the value of the assets sold. You can see how the structure prioritizes the debt holders over equity holders.

• Secured Creditors (Indaba Capital Management, L.P.) are the focus because the purchase price included a credit bid of $36.9 million against their existing secured notes and the new DIP financing facility.
• The asset buyer is an affiliate of Indaba Capital Management, L.P., which entered into an Amended and Restated Asset Purchase Agreement on August 8, 2025.
• The company secured up to $12.5 million in multi-draw Debtor-in-Possession (DIP) financing to operate during the proceedings.
• Unsecured Creditors' recovery is tied to the 'certain assumed liabilities' portion of the asset sale, which is less clear than the secured claim's credit bid amount.
• Former common equity holders, holding approximately 25,477,516 shares, receive no recovery under the confirmed Chapter 11 Plan of Liquidation effective on or about August 18, 2025.

To be fair, the common stock, previously trading on Nasdaq, was suspended on May 15, 2025, and began trading on the OTC Pink marketplace under the symbol AXDXQ, reflecting its diminished status before the final cancellation.

Finance: draft the final claim reconciliation statement based on the August 13, 2025, Confirmation Order by next Tuesday.

Accelerate Diagnostics, Inc. (AXDX) - Canvas Business Model: Cost Structure

The Cost Structure for Accelerate Diagnostics, Inc. (AXDX) as of late 2025 is dominated by the wind-down activities following the Chapter 11 filing and asset sale.

Significant professional fees for legal and financial advisors are embedded within the costs of the Chapter 11 proceeding, which was supported by a commitment of up to $12.5 million in debtor-in-possession (DIP) financing to maintain ordinary course operations during the process. Administrative costs related to the wind-down process and remaining corporate overhead were funded by 'excluded cash sufficient to wind-down the Company following sale closing,' as stipulated in the asset purchase agreement.

The financial structure carried a high interest expense burden, stemming from total debt reported at approximately $66.58 million pre-liquidation. The company also reported a negative EBITDA of -$31.89 million.

Operating expenses have been drastically curtailed following the asset sale and restructuring efforts. Selling, General, and Administrative (SG&A) costs for the full year 2024 were $21.3 million, reflecting a reduction from the prior year's $31.2 million, primarily due to lower employee-related expenses and reduced legal and professional services fees. Research and Development (R&D) costs for the full year 2024 were $16.7 million, down from $25.4 million in the prior year, reflecting lower employee-related expenses and reduced third-party development costs for the Accelerate WAVE system.

Here's a quick look at the key 2024 financial metrics that define the cost base leading into the liquidation phase:

Cost Category	2024 Full Year Amount (USD)	Notes on Reduction/Context
Selling, General, and Administrative (SG&A)	$21.3 million	Reduced from $31.2 million in the prior year.
Research and Development (R&D)	$16.7 million	Reduced from $25.4 million in the prior year.
Total Debt Pre-Liquidation	$66.58 million	The debt burden driving the restructuring.
Negative EBITDA	-$31.89 million	Reflects significant operational cash burn.
Net Loss (2024)	$50.0 million	Down from $61.6 million in the previous year due to lower operating expenses.

The wind-down phase costs are further characterized by the need to manage remaining liabilities and operational continuity during the asset sale process. Key components of the cost structure during this period include:

• Secured commitment for up to $12.5 million in DIP financing to cover Chapter 11 operating expenses.
• Costs associated with the court-supervised Section 363 sale process.
• Costs related to the cancellation and discharge of all outstanding common stock and warrants.
• The final allocation of 'excluded cash' designated specifically for company wind-down activities.

To be fair, the sharp reduction in SG&A and R&D from 2024 levels is expected to continue as the company transitions to a minimal corporate overhead structure post-asset sale. Finance: draft 13-week cash view by Friday.

Accelerate Diagnostics, Inc. (AXDX) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for Accelerate Diagnostics, Inc. (AXDX) as of late 2025, which is a very different picture than its operating past, given the Chapter 11 restructuring and asset sale. Honestly, the revenue streams are now almost entirely focused on the wind-down process rather than sustainable product sales.

The most significant financial event impacting the 'revenue' side, in the context of the asset sale, is the transaction with the Indaba Capital affiliate. This was finalized on August 8, 2025, under an Amended and Restated Asset Purchase Agreement.

• Proceeds from the August 2025 asset sale to the Indaba Capital affiliate: The initial 'stalking horse' bid from Indaba Capital Management, L.P. involved a credit bid of $36.9 million of existing secured notes and the DIP financing facility, along with assumed liabilities and excluded cash for wind-down.
• Residual revenue from any retained product sales or service contracts (minimal): This stream is expected to be minimal as the company moves toward liquidation. The last full year of operational sales provides a baseline, though this is no longer representative of the current entity.
• Investment income from remaining cash balances: This would be interest or short-term gains on any cash balances held post-sale, primarily for satisfying administrative wind-down costs.
• Contingent partnership payments (pre-liquidation expectation, now uncertain): Any prior expectations for future partnership revenue related to the Accelerate WAVE™ system are now uncertain or likely terminated as part of the asset sale and liquidation plan confirmed on August 13, 2025.

Net sales for the full year 2024 were $11.7 million, a figure no longer representative of the liquidation entity. To give you the most recent snapshot before the finality of the liquidation, the Trailing Twelve Months (TTM) revenue as of December 2025 was reported at $11.69 Million USD.

It is crucial to note the ultimate outcome for equity holders under the confirmed Chapter 11 Plan of Liquidation: all outstanding shares of common stock and warrants will be canceled and discharged, and holders of these equity interests will receive or retain no property or value.

Here's a quick look at the key financial figures surrounding this transition period:

Financial Metric	Amount	Context/Period
2024 Full Year Net Sales	$11.7 million	Last full year of reported operational sales
TTM Revenue (as of Dec 2025)	$11.69 Million USD	Latest reported TTM revenue figure
Indaba Credit Bid Component	$36.9 million	Part of the asset sale consideration (debt offset)
DIP Financing Commitment	Up to $12.5 million	Financing secured to maintain operations during Chapter 11
2024 Year Net Loss	$50.0 million	Last full year of reported operational loss
Pre-Sale Debt Burden	$66.58 million	Debt level prior to asset sale completion

The pre-liquidation operational performance showed significant negative cash flow, which necessitated the sale. For example, the company had negative free cash flow of -$24.7 million leading up to the asset sale.

The structure of the revenue streams post-August 2025 is effectively limited to the proceeds realization from the asset sale and any minimal cash flow generated while the remaining entities are formally wound down. Finance: confirm the final cash balance available for administrative expenses post-Indaba closing by next Tuesday.