sequenom inc (SQNM) Key Developments
John A. Fazio Not to Stand for Reelection to the Board of Sequenom Inc
Jan 23 15
On January 20, 2015, John A. Fazio, who has served as a member of Sequenom Inc. Board of Directors since 2007, notified that he has elected not to stand for re-election to its Board of Directors at its next annual meeting of shareholders. Mr. Fazio's decision not to stand for re-election to its Board of Directors does not involve any disagreement with us, its management or its Board of Directors.
Sequenom Inc. Presents at 33rd Annual J.P. Morgan Healthcare Conference, Jan-15-2015 08:00 AM
Jan 6 15
Sequenom Inc. Presents at 33rd Annual J.P. Morgan Healthcare Conference, Jan-15-2015 08:00 AM. Venue: Westin St. Francis Hotel, San Francisco, California, United States. Speakers: Carolyn D. Beaver, Chief Financial Officer, Chief Accounting Officer and Vice President, William J. Welch, Chief Executive Officer, President and Director.
Illumina, Inc. and Sequenom, Inc. Agree to Settle All Pending Infringement Claims and Other Disputes Between Sequenom and Verinata Health, Inc
Dec 3 14
Illumina Inc. and Sequenom Inc. announced they have agreed to settle all pending infringement claims and other disputes between Sequenom and Verinata Health Inc. The parties will pool their owned and in-licensed intellectual property directed to noninvasive prenatal testing (NIPT), including patents that will remain the subject of ongoing interference proceedings. Under the agreement, Illumina will have exclusive worldwide rights to utilize the pooled intellectual property to develop and sell in-vitro diagnostic kits for NIPT and to license third-party laboratories wishing to develop and sell their own laboratory-developed NIPT tests under the collection of pooled patents. In addition, Sequenom and Illumina will each have rights to utilize all pooled patents to develop and sell their own respective laboratory-developed NIPT tests. The parties will share the revenue from the patent pool and Illumina will pay Sequenom a royalty on sales of in-vitro diagnostic kits for NIPT. Illumina will make a $50 million upfront payment to Sequenom as part of the overall agreement, as well as certain ongoing commitments for payments to Sequenom from the patent pool structure through 2020.
Sequenom Inc. Presents at 26th Annual Piper Jaffray Healthcare Conference, Dec-03-2014 08:30 AM
Nov 25 14
Sequenom Inc. Presents at 26th Annual Piper Jaffray Healthcare Conference, Dec-03-2014 08:30 AM. Venue: The New York Palace Hotel, 455 Madison Ave, New York, NY 10022, United States. Speakers: William J. Welch, Chief Executive Officer, President and Director.
Sequenom Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Gross Margin Guidance for the Year 2014
Nov 4 14
Sequenom Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, diagnostic services revenue, net was $37,937,000 against $33,268,000 a year ago. Revenues are recorded primarily on a cash basis. In the third quarter, Sequenom Laboratories continued using accrual accounting for several third-party payors and added additional payors on accrual accounting. Loss from operations was $6,041,000 against $27,155,000 a year ago. Loss from continuing operations before income taxes was $8,185,000 against $29,264,000 a year ago. Loss from continuing operations was $6,078,000 or $0.05 per basic and diluted share against $29,344,000 or $0.25 per basic and diluted share a year ago. Net loss was $6,078,000 or $0.05 per basic and diluted share against $28,148,000 or $0.24 per basic and diluted share a year ago. The company also used cash for capital investments of $0.5 million.
For the nine months, diagnostic services revenue, net was $114,780,000 against $86,877,000 a year ago. Loss from operations was $33,688,000 against $83,178,000 a year ago. Loss from continuing operations before income taxes was $40,022,000 against $89,648,000 a year ago. Loss from continuing operations was $31,111,000 or $0.27 per basic and diluted share against $89,845,000 or $0.78 per basic and diluted share a year ago. Net loss was $17,299,000 or $0.15 per basic and diluted share against $88,531,000 or $0.77 per basic and diluted share a year ago.
The company expects gross margin to improve in the future as it continue its efforts to gain reimbursement and lower the cost of processing its tests.