Accelerate Diagnostics CFO Patience David sells $583 in stock

Published 28/02/2025, 01:28
Accelerate Diagnostics CFO Patience David sells $583 in stock

In a recent filing with the Securities and Exchange Commission, Patience David, the Chief Financial Officer of Accelerate Diagnostics, Inc. (NASDAQ:AXDX), disclosed a series of stock transactions dated February 26, 2025. The filing reveals that David sold 535 shares of common stock at a price of $1.09 per share, amounting to a total value of $583. This sale was conducted to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs). The transaction comes as the company, currently valued at $27 million, faces challenging market conditions, with InvestingPro data showing the stock has declined over 45% in the past six months.

Additionally, the filing indicates that David acquired 1,500 shares of common stock through the vesting of RSUs. These shares were acquired at no cost, as each RSU represents a contingent right to receive one share of the company’s common stock upon vesting. Following these transactions, David holds a total of 51,384 shares of common stock directly. According to InvestingPro analysis, the company’s financial health score is rated as ’FAIR’, with multiple indicators suggesting significant operational challenges ahead.

It’s noteworthy that David’s spouse also owns 760 shares indirectly through an Individual Retirement Account (IRA). The transactions and holdings provide insight into the stock activities and ownership levels of key executives within Accelerate Diagnostics. The stock currently trades at $1.08, significantly below its 52-week high of $2.09. Discover more detailed insights and 10 additional key ProTips for AXDX with a subscription to InvestingPro.

In other recent news, Accelerate Diagnostics, Inc. has received a notification from the Nasdaq Stock Market concerning a potential delisting. The company, based in Tucson, Arizona, was informed that its Market Value of Listed Securities has fallen below the required $35 million minimum for the past 30 consecutive business days. As a result, Accelerate Diagnostics has until July 28, 2025, to meet the compliance requirement, which mandates that the market value of its common stock must close at or above $35 million for at least ten consecutive business days before the deadline. Although the notice does not immediately impact the listing of the company’s stock, failure to comply could result in delisting, with an opportunity for appeal before a Nasdaq Hearing Panel. The company is currently evaluating potential strategies to regain compliance with the Nasdaq standards. Accelerate Diagnostics has indicated that there is no assurance it will meet the compliance requirements within the specified timeframe. Investors are closely monitoring the situation as the company seeks to address this significant challenge.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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