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Rod Raynovich
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Rod Raynovich is an entrepreneur and executive with a focus on life science companies and medical technology trends.He has over 30 years executive experience including Abbott and JNJ and has been involved three successful start-ups. He has a B.S, from Penn State University and an MBA from... More
My company:
Raygent Capital
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  • Rayno Diagnostics And Tools Update: MYGN, SQNM Update 1 0 comments
    Jun 13, 2013 3:11 PM | about stocks: MYGN, SQNM

    A Bullish Tone to Diagnostics Stocks

    Diagnostics and tools stocks are in the green today pretty much tracking the NASDAQ rally up close to 1%. The IBB ($177), more weighted to biopharma stocks is also up 1.5%. Within our focus stocks we have the following winners: Abaxis (ABAX $46.27), up 1.5%, Cepheid (CPHD $33.50) up 1%, Exact Sciences (EXAS $13.12) up 0.3%, Illumina (ILMN $68.39) up 1%, Sequenom (SQNM $4.44) up 5.46%,ThermoFisher (TMO $85) up 1.24% and Vermillion (VRML $3.06) up 3.73%.

    Sequenom (NASDAQ:SQNM) was up 3.3% on volume over 4M shares on no apparent news but the Company is a leader in prenatal genetic analysis with its MaterniT21 Plus LDT (Lab Developed Test).

    The uptick in SQNM could be driven by anticipated sales growth , recent licensing and distribution agreements and new lab expansion.Revenues for the Company are forecasted at the $200M level for 2013 even though the pre-natal tests are so called LDT's for use by physicians but not approved by the FDA.

    The stock may also may be reacting to news from Myriad Genetics (MYGN $32) down 5% on a slightly bullish Supreme Court patent ruling that says although genes cannot be patented synthetic versions of the gene (cDNA) can be proprietary IP.

    Watch news tomorrow for analysis of this Supreme Court ruling.

    Disclosure: I am long CPHD, ILMN.

    Stocks: MYGN, SQNM
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