Opexa Therapeutics Inc (NASDAQ:OPXA) 4Q Revenue Drives Aggressive 2014 Outlook
Opexa Therapeutics Inc (NASDAQ:OPXA), the manufacturer of molecular diagnostic platforms, announced its 4Q and full year operation results on 12th February. Post the call, the stock posted a significant 9.77 percent rally at the stock market on the back of better than expected results.
4Q and Full Year Operations Highlights
The $142 million market capped firm was able to acquire 35 new customers for the quarter and this went up to 161 customers in 2013. Its revenue for the full year came in at $10 million which is a record for the firm, with the 4Q contributing the maximum of $3.4 million. In the quarter, the firm was also able to get its blood testing equipment approved by the FDA and this is expected to have a major impact on its future revenue.
2014 Outlook Aggressive
As a result of strong build up in momentum for its existing bouquet of products and expectancy of additional products to get added to the portfolio, Opexa Therapeutics Inc (NASDAQ:OPXA) has gone ahead and raised its guidance for 2014. It expects to almost double its annual revenue to $19-$21 million for the full year and is eying a significant 200 net new customer additions in the same period.
Commenting about the upsurge in revenue generation, Opexa Therapeutics Inc (NASDAQ:OPXA) president and chief executive officer Michael McGarrity has been quoted to have said that, “Our expanding menu of infectious disease tests, are demonstrating significant value in improving patient care, preventing antibiotic resistance and reducing healthcare costs. Our recent regulatory milestones, consisting of FDA clearance for our Verigene® Gram-Negative Blood Culture Test, and submission to the FDA of our Verigene Enteric Pathogens Test for gastrointestinal infections, will contribute to Nanosphere’s continued growth.” The stock is currently trading 47.44 percent below its 52 week high price point.