Operating expenses are expected to be at the high end of the Company’s previously stated range of $70 million to $75 million.Ĭash usage excluding financing activities for the year continues to be projected in the range of $10 million to $15 million. Gross margin is expected to be in upper end of the Company’s previously stated range of 38% to 40%. The Company expects to achieve the top end of both its global ePlex placement guidance of 230 to 250 net new analyzers and annuity per analyzer of $175,000 to $200,000. This compares to the previously stated range of $155 million to $165 million. GenMark increased its total revenue guidance for the full year 2020 to a range of $165 million to $168 million. These transitions are important because they include multi-year contracts that increase our highly predictable revenue stream.” “I am especially encouraged by the significant number of customers that have transitioned to ePlex RP2, which enables comprehensive diagnosis for effective patient management. “The GenMark team once again delivered meaningful progress on each of the strategic objectives established at the outset of this year, including another quarter of strong revenue growth, cash flow positivity, and further menu development,” said Scott Mendel, President and Chief Executive Officer. RP2 drove the majority of the placements and revenue for the quarter.ePlex Respiratory Pathogen Panel 2 (RP2), one of the first rapid-result multiplex panels to identify 21 respiratory pathogens, including SARS-CoV-2, received Emergency Use Authorization (EUA).Placed net 70 ePlex analyzers, concluding the quarter with a global installed base of more than 720 ePlex analyzers, an increase of 47% over the third quarter of 2019.Delivered $6.3 million in positive cash flows from operating activities.Cash and investments were $137.3 million as of September 30, 2020, an increase of $4.5 million over June 30, 2020.
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