Skip to main content
Premium Trial:

Request an Annual Quote

Illumina's Board OKs Repurchase of Up to $75M in Stock

NEW YORK (GenomeWeb News) – Illumina said today that its board of directors has approved a new stock buy-back program that authorizes the firm to repurchase up to $75 million of its outstanding common stock.

Illumina said that it has terminated a previously announced $120 million repurchase program after repurchasing $70.7 million of outstanding common stock in 2008.

"Given the continued strength of our cash flow, we believe that this program is an effective mechanism to return value to our shareholders," said Jay Flatley, Illumina's president CEO.

Under the program authorized by Illumina's board, all share buy-backs will be funded from existing cash balances under a 10b5-1 trading program, which "allows a 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 company said.

Filed under

The Scan

Shape of Them All

According to BBC News, researchers have developed a protein structure database that includes much of the human proteome.

For Flu and More

The Wall Street Journal reports that several vaccine developers are working on mRNA-based vaccines for influenza.

To Boost Women

China's Ministry of Science and Technology aims to boost the number of female researchers through a new policy, reports the South China Morning Post.

Science Papers Describe Approach to Predict Chemotherapeutic Response, Role of Transcriptional Noise

In Science this week: neural network to predict chemotherapeutic response in cancer patients, and more.