Until then, we can assume the stock will be sold short and negative within 24 hours.
- Sequenom, Inc. (NASDAQ:SQNM - News), a leading provider of genetic-analysis and molecular diagnostic solutions, announced additional, positive results from screening studies using the Company’s noninvasive circulating cell-free fetal (ccff) nucleic acid SEQureDx™ Technology, which enables the detection of fetal aneuploidy, including Down syndrome from maternal blood, at its Analyst Briefing in New York City.
- Among the data presented, Sequenom’s test demonstrated complete concordance with clinical results (no false positives and no false negatives) in both first and second trimester samples (over 200 samples announced today and in excess of 400 prospective samples to-date)
- "These data expand upon the data we announced in June and underscore the potential for our SEQureDx Technology to transform current clinical practice for prenatal diagnostics as a primary screening tool for Trisomy 21. Furthermore, these results support the potential for our test to be used in the first trimester," said Harry Stylli, Ph.D., Sequenom's President and Chief Executive Officer.
- Elizabeth Dragon, Ph.D., Senior Vice President of Research and Development at Sequenom, presented data from blinded studies performed at Sequenom involving 219 new clinical samples collected prospectively, showing that its proprietary test for Down syndrome correctly identified 100% of all Down syndrome samples (i.e. sensitivity or detection rate), without any false-positive outcomes (i.e. specificity). The SEQureDx prototype test also demonstrated its ability to correctly identify a Down syndrome positive sample in the first trimester, confirmed by chorionic villus sampling (CVS), a current testing standard that requires the harvesting of placental tissue cells.
- Sequenom indicated that with the addition of new SNPs in PLAC4 and a recently discovered gene, the SEQureDx Trisomy 21 test should increase its coverage from 93% to greater than 95% in the US population.
- The Company expects to continue its current development activities through the end of 2008, at which time the Company will initiate a multi-site 3,000 to 5,000-sample laboratory developed test (LDT) validation study, which is expected to be completed and submitted for publication at the time of the anticipated commercial launch in June 2009
They also bought a lab for $4M, 90% of which will be paid for in stock
- Genetic testing products maker Sequenom Inc. said Tuesday it agreed to buy the Center for Molecular Medicine, a clinical diagnostics laboratory, for approximately $4 million. Sequenom said the acquisition will help it test and launch its SEQureDx Down syndrome test. SEQureDx was effective in an early clinical trial and had said it was planning to conduct a larger study later this year. Sequenom plans to launch the test in the first half of 2009.
- A total of 90 percent of the purchase price will be paid in Sequenom stock. The company said it will invest about $10 million as part of the deal, and may create several hundred jobs over the next five years. As a result of the acquisition, Sequenom will receive a tax incentive package worth up to $20 million over the next 12 years.
Long Sequenom in fund and personal account
1 comments:
Don't be so sure that SQNM will go negative. First off we are going to have another candyland engineered rally tomorrow and secondly SQNM is going to life raft in my opinion. In bad market times there are few stocks that gain momentum and get people clinging to it like a life raft. Can you think of any stock with a story like SQNM? Very few if any. This is a huge opportunity.
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