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Executives

Marcy Graham – Senior Director of Investor Relations

Dr. Harry Hixson – Chairman and Chief Executive Officer

Paul Maier – Chief Financial Officer

Dr. Ron Lindsay – Executive Vice President, Research and Development

Analysts

Tony Butler – Barclays Capital

David Ferreiro – Oppenheimer

Brandon Couillard – Jefferies

Junaid Husain – Ticonderoga Securities

Scott Gleason – Stephens

Zarak Khurshid – Wedbush Securities

Enrique Akashi – Piper Jaffray

Sequenom, Inc. (SQNM) Q2 2011 Earnings Conference Call August 4, 2011 5:00 PM ET

Operator

Good day and welcome to the Sequenom Second Quarter 2011 Earnings Conference Call and Webcast. All participants will be in a listen-only mode. (Operator Instructions) After today’s presentation, there will be an opportunity to ask questions. (Operator Instructions) Please note this event is being recorded.

I would now like to turn the conference over to Marcy Graham, Senior Director of Investor Relations. Please Graham, the floor is yours ma’am.

Marcy Graham – Senior Director of Investor Relations

Great. Thank you. Welcome to the Sequenom conference call to discuss operating results for the second quarter 2011. Joining me today is Dr. Harry Hixson, Chairman and CEO and Paul Maier, CFO. Dr. Ron Lindsay, Executive Vice President of Research and Development will join us later for the Q&A portion of the call. This call is also being broadcast live over the web and will available for replay through Thursday August 11th, 2011 on the investor section of our website at www.sequenom.com.

Before we begin, please note that this call will include a discussion of Sequenom’s current plans and intentions regarding product development and launches and other matters as well as expectations regarding Sequenom’s financial resources or future financial performance, statements that are not historical facts but are forward-looking statements.

Forward-looking statements are not guarantees of performance, they involve known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by any forward-looking statements. For information about the risks and uncertainties that Sequenom faces, please refer to the risk factors set forth in the latest Sequenom Form 10-K, and most recent Form 10-Q filed with the Securities and Exchange Commission as well as any subsequent filings with the SEC.

Sequenom assumes no obligation and expressly disclaims any duty to update any forward-looking statements to reflect events or circumstances after today’s call or to reflect the occurrence of unanticipated events.

With that I would now like to turn the call over to Harry Hixson. Harry?

Dr. Harry Hixson – Chairman and Chief Executive Officer

Thank you, Marcy. Good afternoon and thanks to everyone for joining us on today’s call to discuss Sequenom’s results for the second quarter of 2011. We continue to excellent progress on our stated goals and initiatives during the second quarter and once again met or exceeded our operational expectations. Revenues were up 17% from this time last year with the gross margin of 67%. Even while we were gearing up for the launch and eventual commercialization of new products.

To this end we recently announced that Sequenom Center for Molecular Medicine completed testing on samples from the pivotal Women’s and Infants clinical validation study to evaluate the clinical performance of the Trisomy 21 Laboratory Developed Test or LDT.

During the second quarter the principle investigators of the coordinating center at Women’s and Infants Hospital, who are responsible for the study design and management of patient samples and data analysis completed the manuscript covering the results of this study and as submitted it for publication. Sequenom Center for Molecular Medicine plans to launch the T21 LDT following publication of this study.

Current forecast of launch date remains late in the fourth quarter of 2011 or early in the first quarter of 2012. Sequenom CMM has made great strides on the path towards bringing this LDT to market commercially in the United States and through Sequenom relationships around the world.

Today we took another step in that direction with the announcement that we have selected the brand name MaterniT21 for this proprietary noninvasive prenatal test to detect Trisomy 21 in high-risk pregnant women. As part of the plan to launch the MaterniT21 LDT we are moving forward with our expansion strategy. We accelerated hiring in the second quarter to build the capacity necessary to meet the commercial opportunity that lies ahead including the addition of clinical laboratory specialist, physician support services, field sales professionals and a medical affairs group.

We are increasing our sales force and expect to have 20 prenatal sales representatives in place by the end of August to afford time for training and placement in key regions across the United States. We are expanding our capabilities in sales operations and logistics, customer support and reimbursement infrastructure. We have also recently hired corporate accounts representatives and billing executives to oversee our reimbursement efforts.

We are currently working to further develop and solidify our relationships with key suppliers, partners and vendors. A few weeks ago, we announced that we had signed a supply agreement with Illumina based in San Diego to provide sequencing equipment and consumables for noninvasive prenatal testing over the next three years.

Illumina will also work collaboratively with us in the submission process as we seek regulatory approval for our in vitro diagnostic product for the detection of fetal chromosomal abnormalities including our Trisomy 21 test. The supply agreement is important step in bringing our proprietary Trisomy 21 test to market giving us the scalability, speed to market and supply chain necessary to address the commercial opportunities this new test provides.

We achieved another important milestone during the second quarter as the Sequenom Center for Molecular Medicine laboratory in San Diego received accreditation, by the accreditation committee of the College of American Pathologists or CAP. While the Sequenom CMM laboratory based in Grand Rapids, Michigan received its third accreditation renewal based upon the results of the recent onsite inspections.

The most of our focus has been on launch preparations around the MaterniT21 LDT during the second quarter, we also introduced RetnaGene AMD, a laboratory developed test to access the risk of developing the wet form of age related macular degeneration a common eye disorder of the elderly that can lead to blindness. Launch of this LDT followed the announcement of acceptance of our clinical validation study manuscript, which was published in Human Genomics in the July edition made available online earlier this week.

Since then we have been adding new accounts within the retinal community and Sequenom CMM is accepting samples from our new customers primarily in the Sunbelt states, where we have initially targeted our AMD sales team. RetnaGene AMD is the first predictive test based solely on genetic markers to assess the risk of developing wet AMD. The clinical validation demonstrates the first evaluation of AMD predictive test performed on a large case-control collection of patients diagnosed with Choroidal Neovascular AMD.

Following the successful launch of the RetnaGene AMD LDT we are looking forward to the introduction of MaterniT21 LDT and we will provide continuing updates on development as we progress toward that goal.

With that, I’ll now turn the cal over to Paul, who will now discuss the details of our performance in the second quarter. Paul?

Paul Maier –Chief Financial Officer

Thanks, Harry. Results for the quarter were in line with our expectations as we met our goals of continued revenue growth and effective cost controls through the second quarter and first half of 2011. Total revenues for the second quarter of 2011 were $13.3 million, as compared to $11.4 million reported for the second quarter of 2010. This improvement reflects increased revenues in both operating segments.

For our genetic analysis business the 7% improvement was associated with a larger installed base of MassARRAY systems, which resulted in increased consumable sales. Diagnostic revenues increased 261% to $1.6 million for the second quarter up from $444,000 for the same period in 2010 an increase attributable to continuing growth in testing services sales volumes for both cystic fibrosis and fetal Rhesus D genotyping.

We currently recognize diagnostic revenues upon cash collection as payment as received. However later this year, we plan to move from a cash basis to accrual accounting for both the cystic fibrosis and fetal Rhesus D recess D genotyping laboratory developed test in a effort to more accurately match revenues and costs to the period in which the underlying services were provided.

Gross margin for the second quarter of 2011 was 67% of revenue as compared to gross margin of 60% for the second quarter of 2010. Gross margin continued to improve in our Genetic Analysis segment due primarily to selling the higher margin MassARRAY 4 system exclusively and higher consumable sales for the quarter as compare to last year. Gross margin on diagnostic tests will continue to fluctuate based on test volumes, cash collected during the period, reimbursement levels, and laboratory operational costs.

Total operating expenses for the second quarter of 2011 were $29.9 million as compared to total expenses of $65.8 million for the second quarter of 2010. This reduction was primarily the result of a decrease in litigation settlement expense which is nonrecurring in 2011 but was $41.8 million for the second quarter of 2010.

Research and development expense increased for the second quarter to $17.1 million from $10.3 million during the same period in 2010. This increase is primarily due to an increase of $4.3 million in the second quarter of 2011 or a $0.04 per share reduction to EPS which is related to the intellectual property licensing and collaboration agreements signed with the Chinese University of Hong Kong during the second quarter.

Sales and marketing expense was up slightly in the quarter increasing 5% from second quarter of 2010 a trend we expect to continue as we expand our sales force in anticipation of Sequenom Center for Molecular Medicines commercialization of the MaterniT21 LDT. General and administrative expense was downs 21% for the quarter as compared to the same period one year ago due primarily to a reduction in legal fees related to the resolution of the prior litigation.

Total stock-based compensation expense was $3.5 million for the second quarter of 2011, an increase from the $2.8 million recorded during the second quarter in 2010. Including the reduction in litigation expense in 2011 and the onetime additional costs associated with research related intellectual property licenses. As previously mentioned our net loss for the second quarter of 2011 was $20.9 million or $0.21 per share, as compared to a net loss of $59.1 million, or $0.86 per share for the same quarter in 2010.

For the first six months of 2011, total revenue increased 22% year-over-year to $26.8 million. Gross margin for the first half of 2011 was 64% up from 55% for the first half of 2010. Total operating expense for the first half of 2011 was $51.4 million as compared to $88 million for the same period in 2010.

As mentioned previously, this reduction resulted primarily from the decrease in litigation settlement expense which is nonrecurring in 2011 but was $41.8 million in the first half of 2010.

Net loss for the first six months of 2011 was $33.6 million or $0.34 per share as compared to a net loss of $76.1 million or $1.17 per share for the same period in 2010 again reflecting the reduction in litigation expense year-over-year and the additional cost of research related intellectual property licensing in the second quarter of this year.

As of June 30, 2011, total cash, cash equivalents, and investment securities were $114.4 million. Net cash used in operating activities was $20.2 million for the first half of 2011 while purchases of capital equipment for the same period totaled $6.9 million funded primarily through utilization of the company’s credit facility put in place during the second quarter.

Our conservative net use of cash in operating activities allows us to maintain the strong cash balances, as we near the implementation of our commercialization strategy and infrastructure build out. We would expect our operating expenses to increase, as we continue to invest in expanding our diagnostic segment capabilities ahead of commercialization and the launch of MaterniT21 LDT in the coming months.

I will now turn the call back over to Harry for closing remarks.

Dr. Harry Hixson – Chairman and Chief Executive Officer

Thanks, Paul. We continue to pursue our stated goals and as we meet each new milestone our enthusiasm and momentum continues to grow. We are optimistic about the future and prospects for our success as we move closer to the eventual introduction of the MaterniT21 LDT and as we continued to make additional investment in Sequenom Center for Molecular Medicines commercialization capabilities. It is our goal at the time to commercial launch to have put in place the sequencing equipment capacity to run a minimum of 100,000 tests annually with additional updates on our progress in the weeks and months ahead.

With that summary of our business and financial update, I would now like to open the call up to questions. Operator, please open the line.

Question-and-Answer Session

Operator

Thank you, sir. We will now begin the question-and-answer session. (Operator Instructions) The firs question we have comes from Tony Butler with Barclays Capital. Please go ahead.

Tony Butler – Barclays Capital

Thanks very much. Harry three brief questions they are all unrelated. You made comments about the new ads which both in field force, med affairs etcetera can you provide us with some idea even a range of the net change in headcount from say the end of Q1 to what you would predict by the end of the year that ‘s question one?

Number two is, if I heard you correctly the field force for MaterniT21 would be 20 by the end of August is that going to escalate and would you project that would escalate next year or would you be happy with 20 that? And this is number three, because you commented that RetnaGene AMD test began its rollout in the Midwest and I’m curious if you are thinking about regional rollout similar when MaterniT21 is launched as an LDT? Thank you.

Dr. Harry Hixson

Well first on the number of new headcount ads I don’t think we are going to publicly disclose what that’s going to be. With respect to the sales force we are having 20 in place by the end of August that’s our goal. We already have territories layouts for at least two levels of sales force increases in the 2012 and subsequent years. So no, we would not be content with just 20. Just a correction our RetnaGene test the sales force is in the Sunbelt states.

Tony Butler – Barclays Capital

Florida.

Dr. Harry Hixson

Florida, California,

Tony Butler – Barclays Capital

Arizona.

Dr. Harry Hixson

Arizona, Texas so I hope that answers your question.

Tony Butler – Barclays Capital

Well if I may just are you going to roll it out at regionally for MaterniT21 that LDT that was really the question not whether it was Sunbelt or Midwest my apologies (indiscernible)?

Dr. Harry Hixson

We are rolling out that.

Tony Butler – Barclays Capital

Right.

Dr. Harry Hixson

No we have a nationwide territory layout for our T21 LDT sales force. And I think we will cautiously add test into our CLIA lab. We want to make sure that we have a controlled ramp up as we approach the capacity of the lab. So we will try and monitor and control that to some degree but it won’t be a regional rollout per se.

Tony Butler – Barclays Capital

Thank you.

Operator

The next question we have comes from David Ferreiro of Oppenheimer.

David Ferreiro – Oppenheimer

Hi. Thanks for taking the questions guys. Just first, can you guys characterize whatever interactions you’ve had with payers and maybe add to that any updated thoughts on pricing?

Dr. Harry Hixson

Well let me handle the pricing. We’ve always said that the closer the results of our clinical validation study were to AMD the closer that we would price the test not the AMD to amniocentesis, I’m sorry and the closer we would price it to amniocentesis. So that’s all we are saying about the pricing of the test. We have a number of months ago retained a well-known national healthcare consulting firm.

We have been having discussions with a number of payors the last thing last time I’ve heard I think it was that we had 28 on our target list and that we had spoken with I think 25 of those discussions are primarily based upon the results which we publish in our paper in the American Journal of obstetrics and Gynecology earlier this year and we’re pretty pleased with the way the discussions are going with the payors.

David Ferreiro – Oppenheimer

Okay. And then just finally, is there anything to update on your ongoing discussions with the FDA?

Dr. Harry Hixson

Other than that they are active and continuing and they are very helpful and very professional. And so right now, we’re focused on the LDT but we’re removing as basically as we can with the FDA on the plan for the IVD trial and submission.

David Ferreiro – Oppenheimer

All right that’s all for me. Thanks, guys.

Dr. Harry Hixson

Sure. Welcome.

Operator

And the next question we have comes from Jon Wood of Jefferies.

Brandon Couillard – Jefferies

Hi it’s actually Brandon Couillard in for John tonight. Did you recognize any AMD revenue in the second quarter? And then, secondly, can you discuss the sequential decline in the diagnostic revenue from the first quarter?

Paul Maier

Yes. This is Paul I’ll take that. We don’t currently disclose the breakdown among our three different tests that we offer what the revenue is. But we have received revenue during the second quarter for AMD but it was just the beginning of the launch. Our expectations internally for that product this year are very modest but it is being reimbursed and we are just beginning to make the sales calls on the professionals in the area. With respect to the sequential decline, which was about $66,000 million from the first quarter to the second of the diagnostics revenue we recognize revenue on the basis of cash received in the bank account by the cutoff dates.

So it’s not necessarily indicative of what’s happening with the underlying test. And in fact during the second quarter the test volume increased and we’re continuing to see a growth curve on the continuing basis and we are very pleased with the results. And at any given time, any given month there is some variability in the actual cash receipts but we are pleased with the growth that we are seeing.

Brandon Couillard – Jefferies

Okay, that’s helpful. And the shifting over to the Illumina supply agreement. What specifics can you give us around that deal? How many systems are being purchased? Are they capital or reagent rental type agreements and will Illumina help share the cost of the T21 approval process?

Dr. Harry Hixson

Okay I think it’s fairly simple. It’s an outright purchase and there is an initial purchase of sequencers but it anticipates the purchase of additional sequencers and consumables. They will not share the cost at least under current plans. They will not share any of the costs for our IVD submission for T21.

Brandon Couillard – Jefferies

Okay. Thank you.

Dr. Harry Hixson

You are welcome.

Operator

The next question we have comes from Junaid Husain of Ticonderoga Securities. Please go ahead.

Junaid Husain – Ticonderoga Securities

Good afternoon, guys.

Dr. Harry Hixson

Good afternoon.

Junaid Husain – Ticonderoga Securities

Guys from a competitive perspective, I know a lot has been said about Verinata Health. If Ron is on the phone, Ron we’ve discussed Verinata at length. Given the time, resources and most importantly capital required to get a T21 test off and running especially in this tough environment do you feel as if you’ve got the edge over Verinata?

Dr. Ron Lindsay

Well I think just as the general scene is that I think as Sean Lavin said that this is a big market and we expect competition. So we know that Verinata have published in this arena. We know they are working in this arena and our biggest issue is that we think our intellectual property estate is very strong 540 being the principle gate and we along with Stanford and others are filing patents and waiting for these applications to be processed in terms of the shotgun sequencing.

So we feel that getting out on to the market and establishing a very thorough test I think we’ve shown you all the process we have been very public about what we’re doing so you can kind of know exactly where we are it’s a little harder with the private company such as Verinata as they know exactly where they are but I think in terms of publications, public things we’ve said we feel we are in a strong position to be on the market with a very strong test and have the capacity to make this widely available over the coming 24 months.

Junaid Husain – Ticonderoga Securities

Harry or Paul big picture, we’ve talked before about your life sciences tools business. It’s a nice little business breakeven or maybe even slightly profitable. But to some extent non-core to your diagnostics franchise have you had any further thoughts on what you might do with this business, perhaps next year when you go live with MaterniT21?

Dr. Harry Hixson

Well I don’t think it’s correct to say that’s non-core because our AMD test, our cystic fibrosis test and our Rhesus D genotyping test all run on the MassARRAY system. It’s also a part of our T21 LDT process. So that’s I think it's integral to our future. The second is that in the molecular diagnostics sort of translational medicine space, many of the new developments that we are seeing are actually being done on our MassARRAY system. It offers some very unique capabilities in particular for the simultaneous multi target detection or monitoring. Ron maybe you want to expand on that.

Dr. Ron Lindsay

Yes. I think, as we have evaluated where our MassARRAY business fits in both our genetic analysis business and potentially for our diagnostics business just to emphasize two points is that a lot of people have presumed that sequencing is going to sort of move in and takeover everything I think that’s proven to be a little slower and a little more complicated then people imagine for even in oncology for example, where we’ve made a lot of progress with our OncoCarta Panel, for research purposes.

And I think still for multiplexing accurately in a certain range our MassARRAY still offers a lot of value where other techniques of lower multiplexing won’t work and where sequencing potentially is too expensive or too complicated. So I still think there is an opportunity there.

And as Harry said we have for example with AMD one of the reasons we thought that was a great test to license apart from the intellectual property it was a hand in glove in terms of our instrumentation. So we’re out there always looking at other tests that would potentially work on the MassARRAY so I think ownership about the IP we have in that arena is still valuable.

Paul Maier

And I would just add as far as the financial contribution of that segment of our business we’ve put quite a bit of energy into managing the cost structure and the productivity of our investments. And so the contribution to our overhead is actually doubled for the GA business in the first six months the contribution was almost $10 million. So we are quite pleased with the direction of that business. And I think with a modest investment level going forward, we continue to expect that it will grow and continue to perform.

Junaid Husain – Ticonderoga Securities

All right, fair enough. That’s very helpful. Thanks that’s all I have got.

Paul Maier

You’re welcome.

Operator

The next question we have comes from Scott Gleason of Stephens.

Scott Gleason – Stephens

Harry, Paul, thanks for taking my questions. I guess to start off Paul I think you said that you’re going to be moving over to an accrual accounting methodology with the Rhesus D test and also with the cystic fibrosis Carrier Screening test. I guess when we look at Rhesus D, are you guys reliably receiving reimbursement there or you feel comfortable making that change? And then I just wanted to double check and make sure, when we look at the MaterniT21 test that that won’t be on an accrual basis that’ll be on a cash collection basis?

Paul Maier

For the last question first yes we anticipate for the launch and the beginning months in any event for the T21 test we will be on a cash basis until we have built up enough history to be able to switchover to the accrual method. With respect to the CF test and the Rhesus D test we have history on that. They are being reimbursed and we are able to project trends and we just need to make sure we have sufficient history long enough history that we will be able to have our accountants comfortable with that methodology change. So that’s why we are targeting it by the end of the year.

Scott Gleason – Stephens

Okay, great. And then I was wondering if you guys could talk a little bit about Dr. Lo’s work on T13 and T18 and the recent study he placed there. Is there any, I guess, plan by the company at this time to basically start working on kind of maybe a second generation test that would be more broad, looking at all three fetal aneuploidies?

Dr. Ron Lindsay

Well I mean, we talked about this before and in terms of our focus is being on getting the T21 LDT firmly established scientifically and clinically and onto the market and that’s what we’re in the progress process of doing. I think Dr. Lo’s paper on 18 and 13 shows where we’re likely to go. We talk to him frequently. We collaborate with him closely. And I think as we’ve said the challenge for 18 and 13 in terms of ultimately being able to talk about it is that the numbers required to have statistical power possibly for 18 one might get there and typically one would need somewhere between 80 to 100 cases and that maybe possible overtime.

I think the 13 most of us know the incidence of that is so low that maybe hard. But I think what we’re going to do at launch is certainly we will report to physicians when we exceed 13 and 18 at least alert them to what are studies. So we won’t have any precision around that in our initial offering so to speak. But you can anticipate overtime that there will be sufficient data.

Scott Gleason – Stephens

And then I guess just last question. Harry you guys talked about in your commentary that you’re having discussions with payors and that those discussions were positive. Can you give us any sense for kind of what your guys’ expectation is from when we might be able to see payor contracts potentially put in place or positive coverage decisions from major payers? How are you guys kind of thinking about that process playing out? Thanks for taking my questions.

Dr. Harry Hixson

Well I would like to make one clarifying point and that is that the T13 and T18 reporting will come out of our first generation tests. And a second-generation test that has T13 and T18 would be one that was statistically powered and that’s going to take sometime to accumulate the number of samples that Ron was referring to.

So with respect to payor contracts first we don’t think that payors will enter into those contracts until after the test is launched. They are also going to want to see the results of the Women’s and Infants clinical validation publication. And then I think we will proceed and try to do all contracts with those payors that seem to be interested in doing so. I think that’s probably as much as we can say at this point.

Operator

And then the next question we have will come from Zarak Khurshid of Wedbush Securities.

Zarak Khurshid – Wedbush Securities

Hey guys, good afternoon. Thanks for taking the questions. I had two questions. One you mentioned the fact that you are working with Illumina on the submission process. So just curious what are the challenges in that approach and how important is the HiSeq in its manufacturing design in the whole grand scheme of the approval process?

Dr. Harry Hixson

Well I think I think it will be important Illumina is a key supplier for our MaterniT21 LDT test and will be for IVD test as well. So w seem to have a very good working relationship with Illumina. And we now have a contract in place that that covers some of these details and the HiSeq is clearly at this stage the instrument of true sequencing instrument of choice throughout the world for this kind of a test. So and Jay Flatley and I meet periodically and we seem to have a very good working relationship and look forward to that continuing.

Zarak Khurshid – Wedbush Securities

It sounds good. And then you mentioned the $4.3 million expense related to IP from the Chinese University of Hong Kong. Can you just provide a little bit more color about that IP and what exactly it pertains to? Thanks.

Paul Maier

Not specifically but we have had a long and very glorious relationship with Dr. Lo as you know and he continues to be creative and we continue to look at opportunities and license stuff so that’s a…

Zarak Khurshid – Wedbush Securities

Okay, it sounds good.

Operator

The next question we have comes from (Enrique Akashi) of Piper Jaffray. Please go ahead.

Enrique Akashi – Piper Jaffray

Hey, guys, thanks for taking our call. So, can you give us a little color on how clinical trial discussions are proceeding with the FDA and also remind us, are they aware of your dual approach to commercialization?

Dr. Harry Hixson

Well I think the answer to the first; the second part is yes they are aware of the dual approach. They seem to be quite pleased with the fact that we were taking to publication route as well in support of the LDT. And I think with respect to the details of where we’re with the in our FDA discussions I think probably not appropriate to disclose those publicly and because dealing with FDA is confidential manner and we tend to keep it that way. We are not going to give everybody else a roadmap on how to do this.

Enrique Akashi – Piper Jaffray

Understood. And just a follow up question now that Women’s and Infants studies have been accepted are you still expecting a quarter four publication? Thanks for taking the question

Dr. Harry Hixson

Well those are…

Paul Maier

First the…

Dr. Harry Hixson

Correction.

Paul Maier

Correction it has been submitted to a journal and it has not been accepted as yet.

Enrique Akashi – Piper Jaffray

Got it. Thank you.

Dr. Harry Hixson

But yes we are still forecasting late fourth quarter 2011 or early first quarter 2012 for the launch.

Operator

It appears that we have no further questions at this time. We will go ahead and conclude our question-and-answer session. I would now like to turn the conference back over to Ms. Marcy Graham for any closing remarks. Ms. Graham?

Marcy Graham – Senior Director of Investor Relations

Thank you for joining us on the call today and your continued interest in Sequenom. If you have any further questions about results today or if you would like any additional information please feel free to contact me directly at 858-202-9028. Thank you.

Operator

And we thank you Ms. Graham and gentlemen for your time. The conference call has now concluded. We thank you all for attending. At this time, you may disconnect your lines. Thank you and take care.

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