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Thu, Jan. 7, 3:45 PM
- Struggling biotech Sequenom (SQNM -2.1%) announces its plan to cut costs and boost its growth prospects. The main points:
- The divestment of its Research Triangle Park, NC operations and the transfer of the work to its San Diego facility.
- The recruitment of strategic partners for the commercialization of its oncology liquid biopsy technology and a concomitant reduction in R&D spending.
- A 20% reduction in headcount (110 jobs).
- Management believes the moves will save over $20M in operating costs on an annualized basis by the end of the year.
- The company needs to do something. Shares have lost 70% of their value since mid-2015.
Dec. 11, 2015, 12:39 PM
- BioTime's (BTX -1.9%) board sets December 21 as the record date for the distribution of a portion of its stake in subsidiary OncoCyte to BioTime shareholders who will receive one share of OncoCyte common stock for every 20 BioTime common shares held. The distribution, expected to occur on December 31, will reduce BioTime's ownership position to ~58.6% from ~76.4%.
- OncoCyte is not publicly traded at present, but intends to apply for listing on the NYSE MKT under the symbol "OCX" in the coming weeks. In the event that the listing is not approved, it will arrange for the trading of its shares on the OTC Bulletin Board no later than December 31.
- OncoCyte develops "liquid biopsy" diagnostic tests that detect cancer biomarkers in blood or urine.
- Liquid biopsy-related tickers: (TROV -4.5%)(TBIO +3.6%)(SQNM -1.5%)(BIOC -4%)(CDNA -2%)
Nov. 4, 2015, 4:44 PM
- Sequenom (NASDAQ:SQNM): Q3 EPS of -$0.08 beats by $0.01.
- Revenue of $29.9M (-21.2% Y/Y) misses by $1.45M.
Nov. 3, 2015, 5:35 PM
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Oct. 13, 2015, 12:36 PM
- MDxHealth SA (OTC:MXDHF) launches a urine-based test, called SelectMDx, for prostate cancer in Europe. The test will be offered as a service through its laboratory facilities in Nijmegen, the Netherlands.
- Initially, testing will be restricted to the Netherlands but will expand to other European countries in early 2016. It expects to be the principal provider of urine-based prostate cancer testing for patients with elevated (3 - 10 ng/ml) PSA levels in the Netherlands.
- The value proposition of the test, called a "liquid biopsy," is reliable identification of patients at low risk of prostate cancer while avoiding an invasive and typically painful tissue biopsy, which fails to find cancer 2/3 of the time.
- Related tickers: (TROV -2.8%)(BIOC +0.8%)(TBIO +5.5%)(SQNM -4.5%)
Oct. 12, 2015, 10:12 AM
- Sequenom (SQNM -2.8%) inks a clinical collaboration agreement with University Medical Center Hamburg-Eppendorf in Germany with the aim of profiling circulating cell-free DNA in blood to monitor response to treatment in patients with later stage colorectal cancer. It is its first oncology collaboration with a leading cancer center in Europe.
- The company is developing a Research Use Only (RUO) assay that will detect and profile late-stage non-hematologic malignancies in settings where tissue biopsies are not possible or too risky to obtain. The test will cover a range of cancer types by analyzing over 100 cancer-related genes.
Oct. 2, 2015, 12:40 PM
Sep. 25, 2015, 12:47 PM
Sep. 17, 2015, 9:15 AM
Sep. 17, 2015, 8:55 AM
- Sequenom Laboratories (NASDAQ:SQNM) signs a national contract with UnitedHealth Insurance to provide coverage of the company's MaterniT21 PLUS, HerediT CF Carrier Screen and HerediT UNIVERSAL Carrier Screen laboratory-developed tests. The agreement, effective October 1, covers 43M Americans.
- The MaterniT21 PLUS test detects fetal chromosomal abnormalities as early as 10 weeks into a pregnancy. The HerediT CF Carrier Screening test detects the most clinically relevant chromosomal abnormalities related to cystic fibrosis. The tests are performed in the company's laboratories as a service.
- Shares are up 9% premarket on light volume.
Aug. 26, 2015, 9:14 AM
Aug. 5, 2015, 5:38 PM
Aug. 5, 2015, 4:20 PM
- Sequenom (NASDAQ:SQNM): Q2 EPS of -$0.08 misses by $0.03.
- Revenue of $32.77M (-17.6% Y/Y) misses by $3.29M.
May 6, 2015, 4:16 PM
- Sequenom (NASDAQ:SQNM): Q1 EPS of $0.11 beats by $0.14.
- Revenue of $37.8M (+2.0% Y/Y) misses by $0.75M.
- Shares +9.4%.
Mar. 5, 2015, 11:07 AM
- Sequenom (SQNM +3.8%) Q4 results: Revenues: $36.8M (+12.5%); COGS: $17.3M (-22.4%); R&D Expense: $5.1M (-32.9%); SG&A: $17.3M (-21.0%); Operating Income: $20M (+204.2%); Net Income: $16.7M (+184.8%); EPS: $0.13 (+176.5%).
- FY2014 results: Revenues: $151.6M (+26.8%); COGS: $83.5M (-4.4%); R&D Expense: $25M (-35.4%); SG&A: $77.7M (-13.8%); Operating Loss: ($13.7M) (+86.6%); Net Loss: ($14.5M) (+86.8%); Loss Per Share: ($0.12) (+87.4%); Quick Assets: $93.9M (+31.7%).
- No guidance given.
Mar. 4, 2015, 4:14 PM
- Sequenom (NASDAQ:SQNM): Q4 EPS of $0.14 may not be comparable to consensus of -$0.05.
- Revenue of $36.8M (+12.5% Y/Y) misses by $5.14M.
- Shares +4.2%.
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