Skip to main content
Premium Trial:

Request an Annual Quote

Luminex Allocates $23.3M in Goodwill from Tm Bio Buy to 'Intangible Assets'

NEW YORK (GenomeWeb News) - Luminex said yesterday that it has allocated $23.3 million out of a $65.4 million goodwill balance associated with its March acquisition of Tm Bioscience to "intangible assets" and has updated its second-quarter financial statement accordingly.
The company said the value of the goodwill asset was subject to adjustment, based on final transaction costs related to the deal, including costs based on Tm Bioscience's fair market valuation relative to the company's assets and liabilities.
Luminex said it has completed a portion of its valuation analysis, and has allocated a portion of the goodwill balance to intangible assets and in-process research and development.
Of the $23.3 million, Luminex said $8 million of those assets were allocated for in-process R&D and expensed during the second quarter. In addition, the company amortized $859,000 for the quarter and will continue to amortize $850,000 per quarter going forward.
The company said it expects the remaining purchase price analysis and allocation will be completed during the third quarter of this year.
The Scan

New Study Investigates Genomics of Fanconi Anemia Repair Pathway in Cancer

A Rockefeller University team reports in Nature that FA repair deficiency leads to structural variants that can contribute to genomic instability.

Study Reveals Potential Sex-Specific Role for Noncoding RNA in Depression

A long, noncoding RNA called FEDORA appears to be a sex-specific regulator of major depressive disorder, affecting more women, researchers report in Science Advances.

New mRNA Vaccines Offer Hope for Fighting Malaria

A George Washington University-led team has developed mRNA vaccines for malaria that appear to provide protection in mice, as they report in NPJ Vaccines.

Unique Germline Variants Found Among Black Prostate Cancer Patients

Through an exome sequencing study appearing in JCO Precision Oncology, researchers have found unique pathogenic or likely pathogenic variants within a cohort of Black prostate cancer patients.