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

Y Chromosome Study Reveals Details on Timing of Human Settlement in Americas

A Y chromosome-based analysis suggests South America may have first been settled more than 18,000 years ago, according to a new PLOS One study.

New Insights Into TP53-Driven Cancer

Researchers examine in Nature how TP53 mutations arise and spark tumor development.

Mapping Single-Cell Genomic, Transcriptomic Landscapes of Colorectal Cancer

In Genome Medicine, researchers present a map of single-cell genomic and transcriptomic landscapes of primary and metastatic colorectal cancer.

Expanded Genetic Testing Uncovers Hereditary Cancer Risk in Significant Subset of Cancer Patients

In Genome Medicine, researchers found pathogenic or likely pathogenic hereditary cancer risk variants in close to 17 percent of the 17,523 patients profiled with expanded germline genetic testing.