Up 6% in June, Is Accelerate Diagnostics a Good Buy Now?

Shares of in vitro diagnostics company Accelerate Diagnostics (NASDAQ: AXDX) were up 6% in June, outpacing the S&P 500's 2% gain. The jump occurred after the company announced on June 8 that nonprofit global partnership Combating Antibiotic-Resistant Bacteria-X (CARB-X) had awarded it $578,000 to develop new optical imaging technology aimed at diagnosing or evaluating the risk of sepsis. The agreement included the potential for up to $2.1 million in additional funds from CARB-X, if the project meets specific milestones.

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Sepsis is a potentially fatal response from the body to an infection, and 1.7 million Americans develop it each year. Obviously, it's of utmost importance for physicians to be able to rapidly diagnose and properly treat sepsis for the best health outcomes.

Source Fool.com