Sequenom Inc. posted a wider-than-expected quarterly loss, hurt by rising costs and lower average selling prices. Sequenom Inc. trades on the “NASDAQ” under the Stock Symbol “SQNM” For the Latest information regarding “SQNM”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Sequenom Inc (NASDAQ:SQNM), a maker of genetic analysis products, posted a wider-than-expected quarterly loss, hurt by rising costs and lower average selling price for its systems in the genetic analysis business.
Sequenom, which on last month launched its fetal test for sex determination, finished the year with over $42 million in cash and revenues of $38 million from its genetic analysis business, the company said in a statement.
Net loss for the fourth quarter was $18.4 million, or 30 cents a share, compared with a net loss of $15.4 million, or 25 cents a share, in the year-ago period.
About Sequenom Inc:
Sequenom, Inc. provides products, services, diagnostic testing, applications, and genetic analysis products that translate genomic science into solutions for biomedical research, translational research, molecular medicine, and agricultural and livestock applications. It offers MassARRAY system, a high performance nucleic acid analysis platform that measures genetic target material and variations. The company offers its MassARRAY system for various DNA/RNA analysis applications, including single nucleotide polymorphism (SNP), genotyping detection of mutations, analysis of copy number variants, and other structural genome variations, as well as quantitative gene expression analysis, quantitative methylation marker analysis, comparative sequence analysis of haploid organisms, SNP discovery, and oligonucleotide quality control. Sequenom also provides the iPLEX multiplexing assay reagents and chips, which permits multiplexed SNP analysis using a similar amount of reagents and chip surface area. In addition, the company engages in the research, development, and the commercialization of various non-invasive molecular diagnostic tests for prenatal genetic disorders and diseases, oncology, and infectious diseases. It offers its products through direct sales and support personnel to clinical research laboratories, bio-agriculture, bio-technology and pharmaceutical companies, academic institutions, and government agencies worldwide. Sequenom has a collaboration agreement with the Immune Tolerance Institute to develop an advanced newborn screening test for severe combined immunodeficiency. The company was founded in 1994 and is headquartered in San Diego, California with additional offices in Queensland, Australia; Beijing, China; and Newton, Massachusetts.
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