Accelerate Diagnostics Inc (AXDX) 2022 Q4 法說會逐字稿

Good afternoon, and welcome to the Accelerate Diagnostics Fourth Quarter 2022 Earnings Conference Call. (Operator Instructions) Please note, this event is being recorded.

下午好，歡迎參加 Accelerate Diagnostics 2022 年第四季度收益電話會議。 （操作員說明）請注意，正在記錄此事件。

I would now like to turn the conference over to Laura Pierson. Please go ahead.

我現在想將會議轉交給 Laura Pierson。請繼續。

Before we begin, it is important to share that information presented during this call may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include projections, statements about our future and those that are not historical facts. All forward-looking statements that are made during this conference call are subject to risks, uncertainties and other factors that could cause our actual results to differ materially. These are discussed in greater detail in our annual report on Form 10-K for the year ended December 31, 2022, and other reports we file with the SEC.

在我們開始之前，重要的是要分享在本次電話會議中提供的信息可能包含 1933 年證券法第 27A 條和 1934 年證券交易法第 21E 條含義內的前瞻性陳述。前瞻性陳述包括預測，關於我們未來的陳述和那些不是歷史事實的陳述。本次電話會議期間做出的所有前瞻性陳述都受到風險、不確定性和其他因素的影響，這些因素可能導致我們的實際結果出現重大差異。這些在我們截至 2022 年 12 月 31 日的年度 10-K 表格年度報告以及我們向美國證券交易委員會提交的其他報告中進行了更詳細的討論。

It is my pleasure to now introduce the company's President and CEO, Jack Phillips.

我很高興現在介紹公司總裁兼首席執行官 Jack Phillips。

Thank you, Laura. Good afternoon, everyone, and welcome to our fourth quarter earnings call. Today's call will focus on our fourth quarter and full year results. I will also provide an update on 3 important strategic priorities; one, building financial strength. This includes restructuring our current debt obligation and reducing our cash burn while improving our operational efficiency; number two, growing market share through our Becton Dickinson partnership; and number three, delivering on innovation by advancing our next-generation susceptibility platform.

謝謝你，勞拉。大家下午好，歡迎來到我們的第四季度財報電話會議。今天的電話會議將重點關注我們的第四季度和全年業績。我還將提供 3 個重要戰略重點的最新情況；一、打造金融實力。這包括重組我們的當前債務義務並減少我們的現金消耗，同時提高我們的運營效率；第二，通過我們的 Becton Dickinson 合作夥伴關係增加市場份額；第三，通過推進我們的下一代敏感性平台來實現創新。

Before providing additional detail on each of these areas, I would like to hand it over to our outgoing Chief Financial Officer, Steve Reichling to review our fourth quarter financial results. Steve?

在提供有關每個領域的更多細節之前，我想將其交給我們即將離任的首席財務官 Steve Reichling 來審查我們第四季度的財務業績。史蒂夫？

Thank you, Jack, and good afternoon, everyone.

謝謝你，傑克，大家下午好。

Net sales were $3 million for the quarter and $12.8 million year-to-date. This compares to $3.3 million and $11.8 million for the same period in the prior year. This represents a decline of 9% as compared to the fourth quarter of 2021, while full year revenues grew by 8% year-over-year. This fourth quarter 2022 decline was due to fluctuations in the timing of capital revenue. Meanwhile, recurring revenues continued to grow sequentially quarter-over-quarter and over comparable periods from the prior year.

本季度淨銷售額為 300 萬美元，年初至今為 1280 萬美元。相比之下，去年同期分別為 330 萬美元和 1180 萬美元。與 2021 年第四季度相比下降了 9%，而全年收入同比增長了 8%。 2022 年第四季度的下降是由於資本收入時間的波動。與此同時，經常性收入繼續環比增長，與去年同期相比也有所增長。

As communicated during our last earnings call, we came in just below the low end of our annual guidance of $13 million to $14 million.

正如我們在上次財報電話會議上所傳達的那樣，我們的收入略低於年度指導目標 1300 萬至 1400 萬美元的下限。

Cost of goods sold were $2.1 million for the quarter and $9.4 million year-to-date, resulting in gross margins of 28% and 26%, respectively. This compares to cost of goods sold of $6.7 million and $12.2 million, inclusive of a onetime $4.5 million inventory write-down, making this year-over-year comparison not meaningful. We continue to see headwinds from a gross margin perspective, inflationary pressures on both direct and manufacturing costs, among other contributing factors.

本季度的銷售成本為 210 萬美元，年初至今為 940 萬美元，毛利率分別為 28% 和 26%。相比之下，銷售成本分別為 670 萬美元和 1220 萬美元，其中包括一次性 450 萬美元的庫存減記，因此這一同比比較意義不大。從毛利率的角度來看，我們繼續看到逆風、直接成本和製造成本的通脹壓力，以及其他促成因素。

Selling, general and administrative expenses, excluding noncash stock-based compensation expense, were $6.8 million for the quarter and $30.7 million for the year. This compares to $8.3 million and $31.6 million for the same period from the prior year. SG&A reductions over these periods were driven by streamlining our spend within sales and marketing within the scope of our BD commercial collaboration. Noncash stock-based compensation expense and SG&A was $2 million in the quarter and $8.5 million year-to-date compared to $3.2 million and $17.6 million for the same periods in the prior year.

本季度的銷售、一般和管理費用（不包括非現金股票補償費用）為 680 萬美元，全年為 3070 萬美元。相比之下，去年同期分別為 830 萬美元和 3160 萬美元。這些時期的 SG&A 減少是由於我們在 BD 商業合作範圍內精簡了銷售和營銷支出。本季度非現金股票補償費用和 SG&A 分別為 200 萬美元和年初至今的 850 萬美元，而去年同期分別為 320 萬美元和 1760 萬美元。

Research and development costs, excluding noncash stock-based compensation expense, were $5.7 million for the quarter and $25.5 million year-to-date. This compares to $4.8 million and $17.8 million for the same period in the prior year. These increases were the result of accelerating investment in our next-generation AST platform Wave. Specifically, our recent investment included delivery of approximately 20 development units of the Wave instrument and purchasing of equipment to finalize our consumable manufacturing line. Noncash stock-based compensation expense in R&D were $0.4 million for the quarter and $1.4 million year-to-date.

不包括非現金股票補償費用的研發成本本季度為 570 萬美元，年初至今為 2550 萬美元。相比之下，去年同期分別為 480 萬美元和 1780 萬美元。這些增長是我們加速投資下一代 AST 平台 Wave 的結果。具體來說，我們最近的投資包括交付大約 20 個 Wave 儀器開發單元和購買設備以完成我們的耗材生產線。研發中非現金股票補償費用本季度為 40 萬美元，年初至今為 140 萬美元。

Our net operating loss, excluding noncash stock-based compensation expense was $11.5 million for the quarter and $52.2 million year-to-date. Our GAAP net operating loss was $14 million for the quarter and $62.8 million for the year, resulting in a net loss of $0.15 and $0.76, respectively. Net cash used was $9.8 million for the quarter and $50.4 million for the year, excluding cash flows from financing. We ended the year with cash and investments of $45.6 million.

我們的淨營業虧損，不包括非現金股票補償費用，本季度為 1150 萬美元，年初至今為 5220 萬美元。我們本季度的 GAAP 淨運營虧損為 1400 萬美元，全年為 6280 萬美元，分別導致淨虧損 0.15 美元和 0.76 美元。本季度使用的淨現金為 980 萬美元，全年為 5040 萬美元，不包括融資產生的現金流量。年底，我們的現金和投資額為 4560 萬美元。

Before I hand it back to Jack, I wanted to take this moment to thank my hard-working team, our analysts and our investors for these past 10 years. This will be my last earnings call with Accelerate Diagnostics. And I'd like to introduce you to David [Patience] who will be joining Jack on the rest of this call and to lead accelerate into the future. I have worked closely with David, and he has my complete confidence and I wish he and the company tremendous success.

在我把它還給傑克之前，我想藉此機會感謝過去 10 年來我辛勤工作的團隊、我們的分析師和我們的投資者。這將是我與 Accelerate Diagnostics 的最後一次財報電話會議。我想向您介紹 David [Patience]，他將在本次電話會議的其餘部分加入 Jack，並領導 accelerate 走向未來。我與大衛密切合作，我完全信任他，我祝愿他和公司取得巨大成功。

I will now hand it back to Jack to review our fourth quarter results and 2023 priorities in greater detail. Over to you, Jack.

我現在將它交還給傑克，讓他更詳細地審查我們第四季度的業績和 2023 年的優先事項。交給你了，傑克。

Thanks, Steve. I will quickly cover our fourth quarter results and turn my commentary to our company priorities.

謝謝，史蒂夫。我將快速介紹我們的第四季度業績，並將我的評論轉向我們公司的優先事項。

In the fourth quarter, the U.S. contracted 3 new Pheno instruments and brought another 5 instruments live. We ended the quarter with a revenue-generating installed base of 325 Pheno instruments and a backlog of 69 Pheno instruments, pending implementation. While our fourth quarter commercial results did not meet our expectations. As mentioned on the last call, we restructured our commercial team late last year and turned our focus to setting BD up for success. We remain encouraged given the strong momentum being built with our BD commercial partnership.

第四季度，美國新簽約3台Pheno儀器，並帶來另外5台儀器上線。我們在本季度結束時擁有 325 台 Pheno 儀器的創收安裝基礎和 69 台 Pheno 儀器的積壓待實施。雖然我們第四季度的商業業績沒有達到我們的預期。正如在上次電話會議中提到的，我們在去年年底重組了我們的商業團隊，並將我們的重點轉向了讓 BD 取得成功。鑑於我們與 BD 商業合作夥伴關係的強勁勢頭，我們仍然感到鼓舞。

Now I would like to provide an update on 3 important strategic priorities: financial strength, market share growth through our Becton Dickinson partnership and delivering on innovation by advancing Wave.

現在，我想提供有關 3 個重要戰略重點的最新信息：財務實力、通過我們與 Becton Dickinson 的合作夥伴關係實現的市場份額增長以及通過推進 Wave 實現創新。

Starting with financial strength, I want to provide an update on our debt restructuring. As you may know, our 2.5% convertible senior notes matured and became due and payable on March 15 of this year. On March 9, we entered into a forbearance agreement with the notes trustee and an ad hoc group of holders of approximately 85% of the outstanding notes, which became effective on March 13. Pursuant to the forbearance agreement, the holders agreed and directed the trustee to forbear the -- from exercising their rights and revenues under the indenture in connection with certain events of default under the indenture until March 29. We continue to work with the holders of the notes and other key stakeholders and have agreed to an extension of the forbearance period to facilitate those continued discussions.

從財務實力開始，我想介紹一下我們債務重組的最新情況。如您所知，我們的 2.5% 可轉換優先票據於今年 3 月 15 日到期並到期應付。 3 月 9 日，我們與票據受託人和約 85% 已發行票據的臨時持有人小組簽訂了暫緩協議，該協議於 3 月 13 日生效。根據暫緩協議，持有人同意並指示受託人到 3 月 29 日為止，在債券下的某些違約事件中，不行使他們在債券下的權利和收入。我們繼續與票據持有人和其他主要利益相關者合作，並同意延長寬容期，以促進這些持續的討論。

Moving to our next priority, growing market share with Pheno and Arc through our Becton Dickinson partnership. As a reminder, last quarter, we announced the formation of an exclusive global commercial partnership with Becton Dickinson. BD is the global leader in microbiology with thousands of customers spanning most countries globally.

轉向我們的下一個優先事項，通過我們的 Becton Dickinson 合作夥伴關係增加 Pheno 和 Arc 的市場份額。提醒一下，上個季度，我們宣布與 Becton Dickinson 建立獨家全球商業合作夥伴關係。 BD 是微生物學領域的全球領導者，在全球大多數國家/地區擁有成千上萬的客戶。

Nearly every clinical microbiology lab in the world uses at least one of BD's products. Much of the quarter was spent taking the necessary time to train the BD commercial organizations. Activities included training on the clinical value of rapid positive blood culture susceptibility with our proven body of evidence and combining our sales processes into a single joint sales process. Together, we successfully launched the only end-to-end complete microbiology workflow for combating bloodstream infections with our combined BD and AXDX product portfolios. This end-to-end product offering from specimen collection to growth and detection of positive blood culture samples and finally, through identification and susceptibility testing enables faster reporting of targeted antimicrobial therapies to pharmacists and physicians. This exciting value proposition is truly unique within clinical microbiology and the rationale for bringing our portfolios together to combat the sepsis burden and growing antimicrobial resistance.

世界上幾乎每個臨床微生物學實驗室都至少使用一種 BD 產品。本季度的大部分時間都花在了培訓 BD 商業組織上。活動包括利用我們經過驗證的證據對快速陽性血培養敏感性的臨床價值進行培訓，並將我們的銷售流程合併為一個單一的聯合銷售流程。通過我們的 BD 和 AXDX 組合產品組合，我們共同成功推出了唯一的端到端完整微生物學工作流程，用於對抗血液感染。這種端到端的產品提供從標本採集到培養和檢測陽性血培養樣本，最後通過鑑定和藥敏試驗，能夠更快地向藥劑師和醫生報告靶向抗菌療法。這一激動人心的價值主張在臨床微生物學中是獨一無二的，也是將我們的產品組合在一起以對抗敗血症負擔和日益增長的抗菌素耐藥性的理由。

There are 3 principal drivers for us joining forces with BD. First, to significantly improve our commercial reach, both in the U.S. and abroad; second, to improve our selling effectiveness by combining our offerings with BD's portfolio; and lastly, to collaborate on future innovation.

我們與 BD 聯手的主要驅動因素有 3 個。首先，顯著提高我們在美國和國外的商業影響力；其次，通過將我們的產品與 BD 的產品組合相結合來提高我們的銷售效率；最後，就未來的創新進行合作。

In the U.S., we launched our commercial partnership in January of this year, after spending the fourth quarter aligning our sales and marketing teams to ensure we improve both our commercial reach and selling effectiveness. Since launch, our sales activity has dramatically increased, which is an encouraging indication of our commercial reach is strengthening. Specifically, we saw a 400% increase in new opportunities thus far in Q1 versus our sales funnel from the fourth quarter of 2022. We have a joint target of bringing significant new Pheno opportunities into our sales funnel this year, and we are tracking ahead of plan thus far.

在美國，我們在第四季度調整了我們的銷售和營銷團隊以確保我們提高商業影響力和銷售效率後，於今年 1 月啟動了我們的商業合作夥伴關係。自推出以來，我們的銷售活動急劇增加，這是一個令人鼓舞的跡象，表明我們的商業影響力正在加強。具體而言，與 2022 年第四季度以來的銷售漏斗相比，到目前為止，我們看到第一季度的新機會增加了 400%。我們的共同目標是今年將重要的 Pheno 新機會帶入我們的銷售漏斗，並且我們正在提前跟踪計劃到此為止。

Improving our sales effectiveness is our second focus. Our joint sales process highlights key roles and responsibilities between the BD territory managers and our Pheno specialists to drive meaningful funnel progression, winning more accounts and faster clinical implementations. Our joint marketing, sales and contracting processes are focused on delivering improved deal economics by offering strong synergies across our highly customized bloodstream infection workflow solutions. For example, we have an active program, which allows customers to renew existing BD systems and as a part of the renewal customers can evaluate and implement Pheno for rapid susceptibility. We anticipate many of our current and new opportunities will close in the second half of 2023, and early '24, driving meaningful market share growth.

提高我們的銷售效率是我們的第二個重點。我們的聯合銷售流程突出了 BD 區域經理和我們的 Pheno 專家之間的關鍵角色和責任，以推動有意義的漏斗進展，贏得更多客戶和更快的臨床實施。我們的聯合營銷、銷售和合同流程專注於通過在我們高度定制的血液感染工作流程解決方案中提供強大的協同作用來提高交易經濟性。例如，我們有一個活動計劃，允許客戶更新現有的 BD 系統，作為更新的一部分，客戶可以評估和實施 Pheno 以實現快速敏感性。我們預計我們當前和新的許多機會將在 2023 年下半年和 24 年初結束，從而推動有意義的市場份額增長。

In summary, we are quite enthusiastic from the early progress in the U.S. to date, but there's still work to be done.

總而言之，從美國的早期進展到現在，我們都非常熱情，但仍有工作要做。

In EMEA, we launched our commercial partnership this month. EMEA is a more complex healthcare system -- delivery system requiring country-by-country logistical and market access considerations. For example, we are adapting our commercial playbook to serve tender-driven markets such as Italy and the U.K., which differ from capital acquisition markets such as Germany and the Nordic countries. This led to a slight delay in launching abroad, but we are encouraged by the team's enthusiasm and progress in the early days.

在 EMEA，我們本月啟動了商業合作夥伴關係。 EMEA 是一個更複雜的醫療保健系統——交付系統需要逐個國家的後勤和市場准入考慮。例如，我們正在調整我們的商業劇本，以服務於意大利和英國等招標驅動的市場，這些市場不同於德國和北歐國家等資本收購市場。這導致在國外的推出略有延遲，但我們對團隊早期的熱情和進步感到鼓舞。

We are commercializing both Arc and Pheno in EMEA, thus bringing in even more cost-effective and automated workflow solution to combat bloodstream infections. An Italian evaluation site will be presenting an Arc abstract during the upcoming ASM in June, and the author will be publishing a full study readout in a local European journal. We will be leveraging this peer-reviewed publication for our selling efforts in EMEA in the future.

我們正在 EMEA 將 Arc 和 Pheno 商業化，從而引入更具成本效益和自動化的工作流程解決方案來對抗血液感染。一家意大利評估網站將在 6 月即將舉行的 ASM 期間展示一份 Arc 摘要，作者將在當地一家歐洲期刊上發表一份完整的研究報告。未來，我們將利用這份經過同行評審的出版物開展我們在 EMEA 的銷售工作。

We continue to see strong market demand for Arc in the U.S. and are eager to bring our commercial learnings to the U.S. with Arc after FDA approval. The U.S. market is eager to gain access to an automated cost-effective sample preparation solution for positive blood cultures.

我們繼續看到美國市場對 Arc 的強勁需求，並渴望在 FDA 批准後通過 Arc 將我們的商業知識帶到美國。美國市場渴望獲得用於陽性血培養的具有成本效益的自動化樣品製備解決方案。

As discussed on our prior calls, we continue to pursue Arc as a Class II 510(k) device with the FDA and remain in active dialogue with them. We will not have a forecasted launch date in the U.S. until we begin clinical trials, which is expected in Q2.

正如我們之前的電話會議所討論的那樣，我們將繼續尋求將 Arc 作為 FDA 的 II 類 510(k) 設備，並與他們保持積極對話。在我們開始臨床試驗（預計在第二季度）之前，我們不會預測在美國的發布日期。

Lastly, with our BD partnership, we will begin to collaborate on future product developments. The first area of focus is streamlining our upfront workflow for Wave for positive blood cultures and isolated colony samples. In summary, our work with BD is off to a good start. We have launched in both the U.S. and EMEA with strong customer engagement and focus from our joint commercial organizations.

最後，通過我們的 BD 合作夥伴關係，我們將開始就未來的產品開發展開合作。第一個重點領域是簡化 Wave 的前期工作流程，用於陽性血培養和分離的菌落樣本。總之，我們與 BD 的合作有了一個良好的開端。我們在美國和歐洲、中東和非洲地區推出了強大的客戶參與度，並得到了我們聯合商業組織的關注。

Now turning my comments to our third strategic priority, delivering innovation with our next-generation platform, Wave. We continue to make very good progress with our Wave development program. As discussed previously, we have taken delivery of over 20 [alpha] instruments, which are up and running in our core laboratory. This is very exciting and has significantly sped up our development efforts. As a reminder, the Wave platform will be able to provide rapid susceptibility test results for both positive blood culture and isolated colony samples on a single system with significantly improved platform economics over Pheno.

現在將我的評論轉向我們的第三個戰略重點，即通過我們的下一代平台 Wave 實現創新。我們的 Wave 開發計劃繼續取得很好的進展。如前所述，我們已經接收了 20 多台 α 儀器，它們在我們的核心實驗室中啟動並運行。這非常令人興奮，並且大大加快了我們的開發工作。提醒一下，Wave 平台將能夠在單個系統上為陽性血培養和分離的菌落樣本提供快速藥敏試驗結果，與 Pheno 相比平台經濟性顯著提高。

Our customers have confirmed a consolidated susceptibility approach will have a superior advantage over traditional isolate-based platforms on the market today.

我們的客戶已經確認，與當今市場上傳統的基於隔離物的平台相比，綜合敏感性方法將具有更大的優勢。

For Accelerate, Wave significantly expands our revenue and wallet share per customer while restating our platform economics. Our target is to have our preclinical data readout complete by the end of the year and start clinical trials shortly thereafter.

對於 Accelerate，Wave 顯著擴大了我們的收入和每位客戶的錢包份額，同時重申了我們的平台經濟性。我們的目標是在年底前完成臨床前數據讀取，並在不久之後開始臨床試驗。

In summary, we will be looking to update the market with further details on our 3 strategic priorities; building financial strength; growing market share with Becton Dickinson; and delivering on innovation by advancing Wave.

總而言之，我們將尋求通過我們 3 個戰略重點的更多細節來更新市場；建立財務實力；與 Becton Dickinson 一起擴大市場份額；並通過推進 Wave 實現創新。

On a personal note, I wanted to take the opportunity to thank and recognize Steve Reichling for his years of service as our CFO. I look forward to continuing to work with Steve in an advisory capacity. Moving forward, I have great confidence in David Patience as our new CFO, and look forward to everyone getting to know David as he takes over for Steve.

就個人而言，我想藉此機會感謝並認可 Steve Reichling 作為我們的首席財務官多年的服務。我期待著繼續以顧問身份與史蒂夫合作。展望未來，我對 David Patience 作為我們的新首席財務官充滿信心，並期待大家在 David 接替 Steve 時認識他。

I would now be happy to answer questions from our analysts. Should others on the call have questions not addressed, we would welcome you to send these questions or request for a follow-up meeting to investors@axdx.com. Thank you.

我現在很樂意回答我們分析師的問題。如果電話中的其他人有未解決的問題，我們歡迎您將這些問題發送至 investors@axdx.com 或要求召開後續會議。謝謝。

Our first question is from Alex Nowak with Craig-Hallum.

我們的第一個問題來自 Alex Nowak 和 Craig-Hallum。

Okay. And good luck to Steve with his future projects and welcome David. The first, I guess, a couple of questions here is really around the BD partnership. I mean -- how should we be trying to think about tracking the success of the launch of Pheno so far? We're not giving sales guidance right now. I mean is it fair to say it's limited visibility -- I mean how should we be thinking about it? Because when we take the 400% comment, you did 19 placements in 2022, 400%, that gets to 80 systems. I mean do you think you could place 8 systems in the second half of this year?

好的。祝史蒂夫在他未來的項目中好運，歡迎大衛。我想，這裡的第一個問題實際上是圍繞 BD 合作夥伴關係的。我的意思是——到目前為止，我們應該如何考慮追踪 Pheno 的成功發布？我們現在不提供銷售指導。我的意思是說它的可見性有限是否公平——我的意思是我們應該如何考慮它？因為當我們接受 400% 的評論時，您在 2022 年進行了 19 次展示，400%，達到 80 個系統。我的意思是你認為你可以在今年下半年放置 8 個系統嗎？

Alex, it's good to hear from you, and this is Jack and David is in the room with me as well. So great first question. So as we said in the commentary, the BD partnership is going very well in the U.S. We're off to a later start in EMEA based on just the complications of doing business in EMEA with the multiple countries.

亞歷克斯，很高興收到你的來信，我是傑克，大衛也和我一起在房間裡。第一個問題太好了。因此，正如我們在評論中所說，BD 合作夥伴關係在美國進展順利。基於在 EMEA 與多個國家開展業務的複雜性，我們在 EMEA 的起步較晚。

We are looking at providing more actionable guidance as we go throughout the year. We're not providing it right now, Alex, just because, again, we just went live in January -- live, meaning that we literally have BD sales reps about 50-plus of them selling in the U.S. that we just literally trained at the end of Q4. We were at their sales meeting. It was a really great meeting. We also had a lot of extensive follow-up training with them. And we're off and running. And the first 2, 3, almost 3 months -- 3 months now of the new year, I mean, we're very excited about the activity around reach and access. We're making a lot more sales calls about funnel improvement and progression. We're adding more accounts to the funnel, but we're also progressing a number of deals, thanks to this BD partnership.

我們正在考慮在全年中提供更多可操作的指導。亞歷克斯，我們現在不提供它，只是因為，再一次，我們剛剛在一月份上線——上線，這意味著我們實際上有大約 50 多名 BD 銷售代表在美國銷售，我們剛剛接受過培訓Q4結束。我們參加了他們的銷售會議。這是一次非常棒的會議。我們還與他們進行了大量廣泛的後續培訓。我們正在運行。前 2、3、將近 3 個月——新年現在的 3 個月，我的意思是，我們對圍繞覆蓋面和訪問的活動感到非常興奮。我們正在就渠道改進和進展進行更多的銷售電話。我們正在向漏斗中添加更多帳戶，但由於與 BD 的合作，我們也正在推進一些交易。

But it is going to take -- as I said, it's going to take some time to really start getting these deals through the funnel. We restructured our sales force back in August and significantly downsized our sales force. So really, we were left in that transition period of training BD, getting them up to speed and so forth.

但這需要——正如我所說，需要一些時間才能真正開始通過渠道獲得這些交易。早在 8 月份，我們就重組了我們的銷售隊伍，並大幅縮減了我們的銷售隊伍。所以真的，我們留在了訓練 BD 的過渡期，讓他們跟上速度等等。

We -- again, as we go through the year in the next couple of months, we look to provide more specific guidance. We believe, again, the greater growth in new account closes, we'll see, we'll be in the -- in the second half of the year. We're very optimistic about that for Pheno. And then obviously, with Arc, we've got to get on market from an FDA approval standpoint before we can significantly start marketing Arc in the U.S.

我們——再一次，在接下來的幾個月裡，我們將通過這一年，我們希望提供更具體的指導。我們再次相信，新賬戶關閉的增長會更大，我們會看到，我們將在 - 在今年下半年。我們對 Pheno 非常樂觀。然後很明顯，對於 Arc，我們必須從 FDA 批准的角度進入市場，然後才能在美國顯著開始營銷 Arc。

Okay. That all makes sense. And can you remind us again on BD? I mean, are they really a funnel driver at the end of the day and it's still up to accelerate in your sales team to close this deal once you get those inbound inquiries? Or how is the handoff between BD and the Accelerate teams go and ultimately have a compensation work between the sales teams?

好的。這一切都說得通。你能在 BD 上再次提醒我們嗎？我的意思是，他們真的是一天結束時的漏斗驅動程序嗎？一旦您收到這些入站查詢，您的銷售團隊是否仍需要加速完成交易？或者 BD 和 Accelerate 團隊之間的交接如何進行並最終在銷售團隊之間進行補償工作？

Yes. Let me -- I'll turn it over to David to answer that. Obviously taken over the rein from Steve as the CFO, but prior to David stepping into his role, he's literally -- his life has been focused on a successful integration with BD. So he's been very much down into the weeds on all of these topics. And again, good question from you as is basically, how does the sales process work, David, and I'll let you go ahead and respond.

是的。讓我——我會把它交給大衛來回答。顯然是從 Steve 手中接過首席財務官的職位，但在 David 接任 CFO 之前，他實際上是——他的生活一直專注於與 BD 的成功整合。所以他在所有這些話題上都非常深入。再一次，你問的好問題基本上是，銷售流程是如何運作的，大衛，我會讓你繼續回答。

Yes. Thank you, Alex. As Jack mentioned in his prepared remarks, it's about reach and effectiveness. So reach would be just bringing folks into the funnel for us. But we spent the better half of the fourth quarter, very much focused on integrating our sales process with their sales process. So that's the roles and responsibilities by sales stage. And you'd imagine that we're very good at certain aspects of the sale, and that would be driving clinical value through rapid susceptibility. But also BD has a very thorough relationship with the hospital, the labs and all the key stakeholders.

是的。謝謝你，亞歷克斯。正如傑克在準備好的發言中提到的那樣，這關乎影響力和有效性。因此，影響力只是將人們帶入我們的渠道。但是我們花了第四季度的大部分時間，非常專注於將我們的銷售流程與他們的銷售流程相結合。這就是銷售階段的角色和職責。你會想像我們在銷售的某些方面非常擅長，這將通過快速敏感性來推動臨床價值。但 BD 與醫院、實驗室和所有主要利益相關者也有著非常密切的關係。

And so it is an amalgamation of bringing our specialties together. So by no means is them feeding us opportunities. They're a true partner in this process. And so the BD rep and the Accelerate rep are working in tandem identify key stakeholders by stage to drive more effective closes as we move these new opportunities through the funnel into close.

因此，這是將我們的專業結合在一起的融合。所以他們絕不是在給我們提供機會。他們是這個過程中真正的合作夥伴。因此，BD 代表和 Accelerate 代表協同工作，分階段確定關鍵利益相關者，以便在我們通過漏斗將這些新機會轉移到關閉時推動更有效的關閉。

Does that answer your question?

這是否回答你的問題？

Yes, it does. Yes, it does. And then I guess maybe the last question I'll ask here to kind of multiparter again here. But the big elephant in the room here is the -- is the debt overhang. We've reached the end of the forbearance or the original forbearance extension, meaning can you give us what the new extension date on the notes is, what's the kind of the terms around that extension are? And then just bigger picture, I mean, ultimately, how to resolve this? What additional details can you give for, whether it be shareholders or debt holders around getting this resolved in a good way for the company and ultimately the stakeholders?

是的，它確實。是的，它確實。然後我想也許我會在這裡問最後一個問題，在這裡再次進行多方討論。但這裡房間裡的大像是——債務積壓。我們已經達到了寬容或原始寬容延期的結束，這意味著你能告訴我們票據上的新延期日期是什麼，延期的條款是什麼？然後是更大的圖景，我的意思是，最終如何解決這個問題？您可以提供哪些額外的細節，無論是股東還是債權人，都可以為公司和最終的利益相關者以好的方式解決這個問題？

Yes, absolutely. I expected the question. So first of all, I totally recognize that for our shareholders, for also our employees and also the debt holders. I mean this is -- this is the big question. And I would say this, first and foremost, we're working day and night to come up with a good solution here. We're active in -- in active dialogue with an ad hoc group of debt holders, about 85% of the overall debt holders are represented in this ad hoc group. The reason why we're extending the forbearance again or from what we did is -- the reason why we're extending is because we are in active dialogue and productive dialogue. You -- I can share that the forbearance extension is through April 5. That is, I would also say that's extendable beyond that to April 14 right now, but we've extended it to April 5. We will come to a resolution on this in some way.

是的，一點沒錯。我預料到了這個問題。因此，首先，我完全認識到，對於我們的股東、我們的員工以及債權人而言。我的意思是——這是個大問題。我要說的是，首先，我們日以繼夜地工作，以在這裡提出一個好的解決方案。我們積極參與 - 在與一個特別的債務持有人小組進行積極對話時，大約 85% 的債務持有人在這個特別小組中有代表。我們再次延長寬容的原因或我們所做的是 - 我們延長的原因是因為我們正在進行積極的對話和富有成效的對話。你 - 我可以分享寬容期延長到 4 月 5 日。也就是說，我還想說現在可以延長到 4 月 14 日，但我們已經將它延長到 4 月 5 日。我們將就此達成一項決議某種程度上來說。

And again, we are optimistic at this point that hopefully, it will be a consensual agreement that we come to. And again, we're working literally day and night on resolving this. And I can say in the next couple of weeks, I'm confident that we'll have an update on where we're at in the form of an 8-K likely.

再一次，我們在這一點上很樂觀，希望這將是我們達成的共識。再一次，我們日以繼夜地努力解決這個問題。我可以說在接下來的幾週內，我相信我們會以 8-K 的形式更新我們所處的位置。

The next question is from Andrew Brackmann with William Blair.

下一個問題來自 Andrew Brackmann 和 William Blair。

This is Dustin on for Andrew. Maybe just a question about current access levels. Obviously, this has been mentioned many times in the past that (inaudible) affected your ability to sell there. But what are access levels like now? Has the pandemic faded away and that's why you're not seeing any more impediments to selling in labs and reaching out to lab directors?

這是安德魯的達斯汀。也許只是關於當前訪問級別的問題。顯然，這在過去已經多次提到（聽不清）影響了你在那裡銷售的能力。但是現在的訪問級別是多少？大流行病是否已經消退，這就是為什麼您沒有看到在實驗室銷售和聯繫實驗室主管的更多障礙？

Yes. Dustin, so one of the metrics that we're tracking, frankly, every week, we look at this every Monday morning is access, number of sales calls we've made, both in-person, sales calls that we've made on Zoom that are remote, and we're looking at this across the entire for now U.S. organization will be doing it in EMEA as well. And I would say without a doubt the amount of access that we're getting, both from an in-person and on a Zoom type call meetings is exponentially greater than where we're at over the past year. So it's absolutely playing out the way we expected it to, which is with BD's access and reach, they have over 50 people selling in the U.S. and then a lot of marketing and support folks as well. That's one factor. But I would say that hospitals are continuing to -- the access in hospitals are continuing to improve as well.

是的。達斯汀，所以我們正在跟踪的指標之一，坦率地說，每週，我們每個星期一早上都會看這個是訪問，我們進行的銷售電話數量，包括面對面的，我們進行的銷售電話Zoom 是遠程的，我們正在整個範圍內研究這個問題，目前美國組織也將在 EMEA 進行。我會毫無疑問地說，我們從面對面和 Zoom 類型的電話會議中獲得的訪問量比我們在過去一年中的訪問量呈指數增長。所以它絕對按照我們預期的方式發揮作用，這是 BD 的訪問和影響，他們在美國有超過 50 人銷售，然後還有很多營銷和支持人員。這是一個因素。但我要說的是，醫院正在繼續——醫院的准入也在繼續改善。

And then the open positions and open headcount within hospitals is also starting to, I would say, maybe settle down a little bit, but it's still -- that's still a bit problematic as well. The turnover that health care is dealing with is real, and it is something that's a challenge. But overall, very optimistic about the reach from where we were at, all is looking to do better, and we're tracking that, again, literally every week, I have an 8 a.m. call to look at these metrics.

然後醫院內的空缺職位和空缺人數也開始，我想說，可能會稍微穩定下來，但它仍然——這仍然有點問題。醫療保健正在處理的營業額是真實的，這是一個挑戰。但總的來說，我們對我們所處的範圍非常樂觀，所有人都希望做得更好，而且我們正在跟踪這一點，實際上每週我都會在早上 8 點打電話來查看這些指標。

Understood. And related to that, how are you guys thinking about hospital CapEx expectations over the next few months and year? And then kind of related to that, do you see any potential benefit from BARDA happening in the next year or 2? And if so, what would be the magnitude of that potentially?

明白了。與此相關的是，你們如何看待未來幾個月和一年的醫院資本支出預期？然後與此相關的是，您認為 BARDA 會在明年或兩年內帶來任何潛在好處嗎？如果是這樣，那麼它的潛力有多大？

Yes. Great. You got 2 questions there. I'm going to let David take the CapEx healthcare question, and then I'll address BARDA.

是的。偉大的。你在那裡有 2 個問題。我將讓 David 回答資本支出醫療保健問題，然後我將解決 BARDA 問題。

Yes. Thank you for the question. So when it comes to hospital CapEx, that obviously has been a bit of a rocky road since COVID. But I think the one thing that we're very excited to see is the BD reach into the hospital has created an opportunity for us to access more capital just in terms of the size and the scope of the deals they're doing with the institutions. Were -- prior to the partnership, we were a one-off stand-alone acquisition. And with that, we're now being part of larger hospital considerations. And so at the end of the day, we did see less capital last year than we were used to, but we're looking forward to seeing the capabilities that BD has in terms of contracting going forward.

是的。感謝你的提問。因此，當談到醫院資本支出時，自 COVID 以來，這顯然是一條崎嶇不平的道路。但我認為，我們非常高興看到的一件事是 BD 進入醫院，就他們與機構進行的交易的規模和範圍而言，這為我們創造了獲得更多資本的機會.是——在合作之前，我們是一次性的獨立收購。因此，我們現在正在考慮更大的醫院。所以在一天結束時，我們去年確實看到了比以往更少的資本，但我們期待看到 BD 在未來承包方面的能力。

So when it comes to the hospital, there is capital. It's just very finite how they're spending it. And they tend to be on larger products, and there's no better partner than BD with their total lab automation, and we fit right in the center of that with Pheno and Arc.

所以說到醫院，就有資本。他們花錢的方式非常有限。他們傾向於使用更大的產品，沒有比 BD 更好的合作夥伴了，他們的整個實驗室自動化，而我們恰好與 Pheno 和 Arc 處於中心位置。

And then, Dustin, as a follow-up to your second part of your question, which is BARDA. As a reminder, we still have an application in with BARDA that's still active. We recently submitted this over the last months or so, have not heard back from BARDA.

然後，達斯汀，作為你問題第二部分的後續行動，即 BARDA。提醒一下，我們還有一個 BARDA 的應用程序仍然有效。我們最近在過去幾個月左右提交了這個，沒有收到 BARDA 的回复。

And then I would also remind everyone that the problem of antimicrobial resistance continues to be the much larger pandemic globally. It's regularly now seen and written about by CDC, BARDA, it's still a major initiative for BARDA. And globally, this is still a major problem in healthcare and the lives of people globally. So needless to say, it's still a priority in the U.S. It's still a priority for BARDA. And while we're not counting on BARDA from a funding standpoint in our financial planning models, it is something that is still a possibility for us that we're still pursuing.

然後我還要提醒大家，抗生素耐藥性問題仍然是全球範圍內更大的流行病。它現在經常被 CDC、BARDA 看到和寫到，它仍然是 BARDA 的一項重大舉措。在全球範圍內，這仍然是全球醫療保健和人們生活中的一個主要問題。所以不用說，它仍然是美國的優先事項。它仍然是 BARDA 的優先事項。雖然從財務規劃模型的資金角度來看，我們不指望 BARDA，但我們仍在追求的可能性仍然存在。

Okay. Understood. And then lastly, just some more specifics on the BD deal. Wondering how your product is fitting with the existing BD Phoenix system? And then more broadly, how are you guys thinking about competition now that you're partnered with BD against some of the other existing players on the market?

好的。明白了。最後，關於 BD 交易的更多細節。想知道您的產品如何與現有的 BD Phoenix 系統相匹配？然後更廣泛地說，既然你們與 BD 合作對抗市場上的其他一些現有玩家，你們如何看待競爭？

Okay. So great question. So first question is around Phoenix. And just for everybody's knowledge, Phoenix is a BD platform that's a very successful platform for Becton Dickinson. It's a platform that -- it actually produces susceptibility results through basically isolates. It does not do positive blood like Pheno does, and it's not considered a rapid susceptibility system, okay?

好的。這麼好的問題。所以第一個問題是關於鳳凰城的。眾所周知，Phoenix 是一個 BD 平台，對 Becton Dickinson 來說是一個非常成功的平台。這是一個平台——它實際上通過基本分離產生易感性結果。它不像 Pheno 那樣做陽性血液，它不被認為是快速敏感性系統，好嗎？

So with that, Pheno is a true complement to Phoenix in a big way. And the way this is, is that for rapid susceptibility testing in positive blood culture, it's really the choice is Pheno. You can run ID, AST on one platform. You could run another ID and run AST only on Pheno and then for the workflow of customers that have Phoenix as well for those isolated colonies where they need to run susceptibility, they would just run those on the Phoenix platform, sorry, on the Phoenix platform.

因此，Pheno 在很大程度上是對 Phoenix 的真正補充。事實是，對於陽性血培養的快速藥敏試驗，真正的選擇是 Pheno。你可以在一個平台上運行 ID、AST。您可以運行另一個 ID 並僅在 Pheno 上運行 AST，然後對於擁有 Phoenix 的客戶的工作流程以及那些需要運行易感性的孤立菌落，他們只會在 Phoenix 平台上運行那些，抱歉，在 Phoenix 平台上.

And so it's really a -- it's not duplicative. It's actually additive, and it's really, as David mentioned in his earlier comments, it's one of the selling effectiveness opportunities where it allows a BD rep to really kind of work with their Phoenix customers or new opportunities on Phoenix and bring in Pheno together as a solution that would really be a total solution for all susceptibility testing.

所以它真的是——它不是重複的。它實際上是附加的，正如大衛在他之前的評論中提到的那樣，它確實是銷售效率機會之一，它允許 BD 代表真正與他們的 Phoenix 客戶或 Phoenix 上的新機會合作，並將 Pheno 作為一個真正成為所有敏感性測試的完整解決方案的解決方案。

And then moving forward, down the road, Wave will be that competitor to a Phoenix because Wave will have the ability to offer both susceptibility testing in an isolated format colony, but also in positive blood both together. And in that situation, that's where there's going to be a competitive situation with Phoenix. But again, that's our next-generation platform. BD is very involved in that platform, by the way, and we are doing regular innovation updates.

然後向前邁進，在這條路上，Wave 將成為 Phoenix 的競爭對手，因為 Wave 將有能力在隔離格式菌落中提供敏感性測試，但也能同時在陽性血液中提供。在那種情況下，這就是與菲尼克斯的競爭局面。但同樣，這是我們的下一代平台。順便說一句，BD 積極參與該平台，我們正在定期進行創新更新。

I think you had a second question, and I'm totally...

我想你有第二個問題，我完全...

Emerging competition.

新興競爭。

Yes. Thank you, David. The second question was around emerging competition. As expected, it's not a surprise. This market is becoming more crowded with competitors. And I think it's -- it's a resounding indication of why this is a much underserved need in healthcare to provide rapid susceptibility testing for sepsis patients, for the reasons of antimicrobial resistance that I stated. And so with that, there's more and more competitors emerging.

是的。謝謝你，大衛。第二個問題是關於新興競爭的。正如預期的那樣，這並不奇怪。這個市場的競爭者越來越多。而且我認為這是一個響亮的跡象，表明為什麼由於我所說的抗菌素耐藥性，醫療保健中為敗血症患者提供快速易感性檢測的需求嚴重不足。因此，越來越多的競爭對手出現了。

We believe we are well suited -- very well suited with BD as a partnership to compete with not only competition of today but the emerging competitors. With our total solution of Rapid ID/AST on Pheno, with our AST-only solution for those customers that want an AST-only platform, working with BD on bundling opportunities and bringing total solutions together with BACTEC and Phoenix and Pheno. It's a great total solution opportunity.

我們相信我們非常適合——非常適合與 BD 合作，不僅可以與當今的競爭對手競爭，還可以與新興的競爭對手競爭。憑藉我們在 Pheno 上的快速 ID/AST 整體解決方案，以及我們為那些想要僅 AST 平台的客戶提供的僅 AST 解決方案，與 BD 合作尋找捆綁機會，並將整體解決方案與 BACTEC 和 Phoenix 和 Pheno 結合在一起。這是一個很好的整體解決方案機會。

And then in Europe, not yet in the U.S., in EMEA, I mean, you've got Arc as well, that's a great opportunity to optimize workflow and throughput for ID on MALDI platforms and then follow that up with Pheno and AST susceptibility.

然後在歐洲，還沒有在美國，在 EMEA，我的意思是，你也有 Arc，這是一個很好的機會來優化 MALDI 平台上 ID 的工作流程和吞吐量，然後跟進 Pheno 和 AST 敏感性。

So again, we believe we have multiple options for customers. We give customers flexibility. And then with BD, it's just a tremendous complement to their total solutions that they're selling.

因此，我們再次相信我們為客戶提供多種選擇。我們為客戶提供靈活性。然後與 BD 一起，它只是對他們銷售的整體解決方案的巨大補充。

One last thing I would mention that is, I think, an important mention here. I mentioned it in the prepared remarks, but BD and Accelerate, we've jointly collaborated on a lot of things over the past quarter, training, sales alignment, pricing models, et cetera, et cetera. But one of the really exciting work streams that I was a part of was the bloodstream infection workflow solution that was spearheaded by BD's global marketing folks and our team.

我想提到的最後一件事是，我認為，這裡有一個重要的提及。我在準備好的評論中提到了它，但是 BD 和 Accelerate，在過去的一個季度裡，我們在很多事情上進行了共同合作，培訓、銷售調整、定價模型等等。但我參與的真正令人興奮的工作流之一是由 BD 的全球營銷人員和我們的團隊牽頭的血流感染工作流解決方案。

And really, it lays out very, very clearly the benefits of looking at bloodstream infections in a holistic manner from sample collection all the way through to rapid susceptibility testing on Pheno. This is something that -- if it's not yet, will be available on BD's website. It will be showcased at ECCMID next month in Copenhagen, Denmark. It will be part of their overall pitch and strategy at the ECCMID Conference, which is the largest global microbiology conference in the world that will be showcased there. And clearly, Pheno will be there and Arc will be there as well, which is a big, big part of this bloodstream infection strategy for BD.

實際上，它非常非常清楚地展示了以整體方式觀察血流感染的好處，從樣本採集一直到對 Pheno 進行快速敏感性測試。這是——如果還沒有的話，將在 BD 的網站上提供。它將於下個月在丹麥哥本哈根的 ECCMID 上展出。這將是他們在 ECCMID 會議上的整體宣傳和戰略的一部分，ECCMID 會議是世界上最大的全球微生物學會議，將在那裡展示。很明顯，Pheno 會在那裡，Arc 也會在那裡，這是 BD 血流感染策略的重要組成部分。

Dustin, did we answer all your questions? Do you have any follow-up questions?

達斯汀，我們回答了你所有的問題嗎？你有任何後續問題嗎？

No. You answered all of them. That was great. And that's it for us.

不，你回答了所有的問題。那很棒。對我們來說就是這樣。

And Gary, are those all the questions for today?

加里，今天的問題就這些了嗎？

Yes, sir. There are no further questions.

是的先生。沒有其他問題了。

Okay. Thank you. So in summary, first of all, I want to welcome David Patience to the leadership team of Accelerate as our new CFO here. As you heard today, David's wasted no time in jumping in. He's been deep into all aspects of our business from many aspects of finance, but all the way through in the commercial business and then obviously the BD integration. So we're thrilled to have him on board and thanks, Steve, again for his tremendous contributions over the past decade at Accelerate.

好的。謝謝。因此，總而言之，首先，我想歡迎 David Patience 加入 Accelerate 的領導團隊，成為我們的新任首席財務官。正如您今天聽到的那樣，David 立即介入。他從金融的許多方面深入到我們業務的各個方面，但一直深入到商業業務，然後顯然是 BD 集成。因此，我們很高興他能加入，並再次感謝史蒂夫在過去十年中為 Accelerate 做出的巨大貢獻。

I want to remind you of 3 important strategic priorities as we close out. Very near term is the financial strength and stability of Accelerate. And I just rest assured, I want everyone to know that we're working day and night to solve our debt overhang issue with the current debt holders. We expect in short term to have a resolution that we'll be able to clearly communicate to all shareholders and investors and more to come on that. But rest assured, we are in good faith negotiations currently, and we expect them to continue and lead to a productive and positive outcome.

在我們結束時，我想提醒您 3 個重要的戰略重點。近期是 Accelerate 的財務實力和穩定性。我只是放心，我想讓每個人都知道我們正在夜以繼日地工作，以解決我們與當前債務持有人的債務積壓問題。我們希望在短期內有一項決議，我們將能夠清楚地傳達給所有股東和投資者，並且還會有更多的事情發生。但請放心，我們目前正在進行真誠的談判，我們希望談判能夠繼續下去，並取得富有成效的積極成果。

The second thing I would say that I know investors, shareholders are wanting more information on is how are things going with BD? How is this producing market growth opportunities? How is it producing new placements, new deals? Rest assured, that is another item that we are working on hard every day. We are up and running. We're active in the U.S. We're coming along in EMEA. And we -- again, we expect closes to be more towards the back half of the year, but we will and do expect to provide more detailed metrics and update on our progress. But overall, going very well and what a great partner that we have in BD, and it's a true complement. Our solutions are just a total complement for microbiology and susceptibility testing globally.

我要說的第二件事是，我知道投資者和股東希望了解更多信息，即 BD 的情況如何？這如何產生市場增長機會？它如何產生新的展示位置，新的交易？請放心，這是我們每天都在努力的另一個項目。我們正在運行。我們在美國很活躍。我們在 EMEA 也很活躍。我們——同樣，我們預計將在今年下半年結束，但我們將而且確實希望提供更詳細的指標和我們進展的最新情況。但總的來說，進展順利，我們在 BD 中擁有多麼好的合作夥伴，這是一個真正的補充。我們的解決方案只是對全球微生物學和藥敏試驗的全面補充。

And then the last thing that we'll continue to update on that is extremely exciting is our next-generation platform Wave as we drive innovation. And also, what I didn't talk much about today is Arc and really continuing to move Arc forward as we work with the FDA to get Arc on market in the U.S. Wave is an exciting platform that will really change the financial dynamics for Accelerate because of the cost of goods sold. From a market standpoint, it's going to open up an entirely new segment of the market for us, that high-volume, low acuity market in susceptibility testing that's focused on isolate samples. But we'll also be backing that up with our legacy system, our legacy solutions in positive blood cultures as well. So it will be an integrated platform. We're looking at preclinical readouts at the end of the year in Q4. We're looking at starting clinical trials sometime thereafter. And again, it will be an exciting leap forward for Accelerate as we continue to move the needle in this space.

然後，我們將繼續更新的最後一件非常令人興奮的事情是我們推動創新的下一代平台 Wave。而且，我今天沒有談太多的是 Arc 並且真正繼續推動 Arc 向前發展，因為我們與 FDA 合作讓 Arc 在美國上市。Wave 是一個令人興奮的平台，它將真正改變 Accelerate 的財務動態，因為銷售商品的成本。從市場的角度來看，它將為我們開闢一個全新的市場領域，即專注於分離樣品的敏感性測試的高容量、低敏銳度市場。但我們也將支持我們的遺留系統，我們在陽性血培養中的遺留解決方案。所以它將是一個集成平台。我們正在查看年底第四季度的臨床前數據。我們正在考慮此後某個時間開始臨床試驗。再一次，隨著我們繼續在這個領域移動針頭，這將是 Accelerate 令人興奮的飛躍。

So with that, I'll bring this call to a close. As I mentioned in my remarks, if you would like a further dialogue or have questions, please go to the website and request a meeting or ask those questions, and David and I will certainly respond in a short, short order.

因此，我將結束此次通話。正如我在發言中提到的，如果您想進一步對話或有任何問題，請訪問網站並要求會面或提出這些問題，大衛和我肯定會在很短的時間內做出回應。

So thank you very much, and I hope everyone has a great day. Bye-bye.

非常感謝你，我希望每個人都有美好的一天。再見。

The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.

會議現已結束。感謝您參加今天的演講。您現在可以斷開連接。