Nov. 11, 2013, 3:51 PM
- Sequenom (SQNM -0.2%) gets a vote of confidence from Maxim's Bryan Brokmeier who reiterates the shares at Buy following the company's Q3 results.
- "The reimbursement environment remains challenging [but] we're increasingly optimistic," Brokmeier notes, citing the percentage of diagnostic revenue from international, the Q/Q rise in covered lives, and the fact that "all major national payers are reimbursing the MaterniT21."
- Price target is $6.
Nov. 8, 2013, 12:53 PM
Nov. 8, 2013, 9:22 AM
Nov. 8, 2013, 8:52 AM
- Sequenom (SQNM) rallies 24% premarket after reporting Q3 results Thursday evening.
- Revenues rose 92% Y/Y and 26% sequentially to $44M for the period thanks to "the continued adoption of the MaterniT21 PLUS test."
- Total tests accessioned: 48,300 (+87% Y/Y). MaterniT21 PLUS patient samples come in at 38,600 — that's +2% Q/Q, as the company notes that "the laboratory increased its focus on tests with acceptable reimbursement."
- Medicaid tests as a percentage of MaterniT21 PLUS tests accessioned: 21%, down from 26% in Q2 (17% in September).
- Uncollected amounts outstanding for tests delivered that were not recognized as revenue upon delivery: $46-51M.
- Annualized run rate for MaterniT21 PLUS test as of quarter's end: 150K+ samples.
- SQNM notes that "the October 30 summary judgment does not impact the current competitive landscape, as the company has competed without the benefit of the patent being recognized." For more on this, see here. (PR)
Nov. 7, 2013, 4:12 PM
Oct. 31, 2013, 12:45 PM
Oct. 31, 2013, 10:57 AM| Comment!
Oct. 18, 2013, 5:46 PM
Sep. 23, 2013, 4:27 PM| 2 Comments
Aug. 21, 2013, 5:37 PM
Aug. 19, 2013, 5:26 PM
- Sequenom (SQNM) is planning to reduce its workforce by up to 75 employees as part of "an overall cost reduction effort," the company said in a regulatory filing. (8-K)
- SQNM says the move will save it $10M in compensation-related expenses on an annualized basis.
- The company also says it plans to book ~$1.2M in severance-related expenses in Q3.
Aug. 16, 2013, 11:24 AM| 2 Comments
Aug. 9, 2013, 12:05 PM
Aug. 5, 2013, 7:44 AM
- The New York Department of Health's Wadsworth Center Clinical Laboratory Evaluation Program issues a laboratory permit clearing the way for Sequenom (SQNM) to begin providing the state's healthcare professionals with the MaterniT21 PLUS test.
- In other company news, SQNM's North Carolina lab gets accreditation from the College of American Pathologists. (PR)
- Shares +3% premarket.
Aug. 1, 2013, 8:54 AM
- CombiMatrix (CBMX) and Sequenom (SQNM) enter into an agreement to collaborate on the promotion and marketing of "chromosomal microarray analysis testing services to broaden and confirm the results of noninvasive, prenatal testing."
- The companies will provide physicians with "technical training" and plan to offer "counseling, education and support services to [both] physicians and their patients."
- CBMX +15% , SQNM +1.33% premarket. (PR)
Jul. 25, 2013, 9:15 AM
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