NEW YORK (GenomeWeb News) – Illumina today said that its board of directors has authorized the repurchase of up to $100 million of the firm's outstanding common stock.

Illumina said that the shares may be purchased either on the open market or under a 10b5-1 trading program, which enables the company to purchase its shares at times when it otherwise might be prevented from doing so under insider trading laws or self-imposed trading blackout periods. The firm said that purchases will be funded through its existing cash balances.

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