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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

Not as High as Hoped

The Associated Press says initial results from a trial of CureVac's SARS-CoV-2 vaccine suggests low effectiveness in preventing COVID-19.

Finding Freshwater DNA

A new research project plans to use eDNA sampling to analyze freshwater rivers across the world, the Guardian reports.

Rise in Payments

Kaiser Health News investigates the rise of payments made by medical device companies to surgeons that could be in violation of anti-kickback laws.

Nature Papers Present Ginkgo Biloba Genome Assembly, Collection of Polygenic Indexes, More

In Nature this week: a nearly complete Ginkgo biloba genome assembly, polygenic indexes for dozens of phenotypes, and more.