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Illumina Shares Slump 11 Percent After Firm Said '07 R&D Costs May Double Last Year's

NEW YORK (GenomeWeb News) — Shares in Illumina were down 11 percent, or $4.58, at $36.96 in mid-afternoon trading today after the company said R&D expenses in 2007 may double last year’s.

Illumina today posted striking revenue growth for the quarter, but the company also said it expects to spend between $57 million and $67 million on R&D for the year, compared with the $33.3 million it spent in 2006.

The company also predicted that selling, general, and administrative costs this year will increase to between $86 million and $96 million from $59.3 million reported in 2006.

Illumina also is expecting to record “a first-quarter charge of approximately $254.6 million associated with in-process research and development,” CFO Christian Henry said in a conference call yesterday.

The Scan

Tens of Millions Saved

The Associated Press writes that vaccines against COVID-19 saved an estimated 20 million lives in their first year.

Supersized Bacterium

NPR reports that researchers have found and characterized a bacterium that is visible to the naked eye.

Also Subvariants

Moderna says its bivalent SARS-CoV-2 vaccine leads to a strong immune response against Omicron subvariants, the Wall Street Journal reports.

Science Papers Present Gene-Edited Mouse Models of Liver Cancer, Hürthle Cell Carcinoma Analysis

In Science this week: a collection of mouse models of primary liver cancer, and more.