Stock Alert: GenMark Diagnostics (GNMK) Makes A Mark

(RTTNews) - Shares of GenMark Diagnostics Inc. (GNMK) are rallying in Tuesday's trading on the back of solid financial results for the fourth quarter and year ended December 31, 2019.

The Company markets ePlex, a multiplex, sample-to-answer platform that is designed to optimize laboratory efficiency and address a broad range of infectious disease testing needs, including respiratory, bloodstream, and gastrointestinal infections, in the United States, Europe, and certain other geographic regions.

The annual net loss in 2019 narrowed to $47.35 million or $0.82 per share from $50.5 million or $0.91 per share in 2018.

Total revenue, including ePlex revenue and license revenue, in 2019 rose to $88 million from $71 million in the prior year. ePlex revenue was $60.3 million in 2019, an increase of more than 59% over 2018.

The Company ended the year 2019 with $53.5 million in cash and investments.

Looking ahead to full-year 2020, the Company expects total revenue to be in the range of $100 million to $110 million, which represents growth of 14% to 25%. ePlex revenues for the year are expected to increase by more than 30%.

Commenting on the results, Scott Mendel, Interim President, and Chief Executive Officer, said, " As revenue crosses over the $100 million mark in 2020, we are increasingly focused on driving towards cash flow positivity. We expect continued strong U.S. ePlex revenue growth, which is the vast majority of our business. Internationally, we plan to take a more measured approach that balances additional placements with stronger leverage of 2019's geographic expansion."

GNMK has traded in a range of $3.36 to $8.17 in the last 1 year. As of this writing, the stock is up 38.62% at $4.86.