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Orchid Shares Slide 11 Percent on Earnings Restatement and Delisting Notice

NEW YORK, April 7 (GenomeWeb News) - Shares of Orchid Cellmark were down 11.21 percent, or $.60, at $4.75 in mid-afternoon trading after the company reported that it will restate its earnings for the second and third quarters of 2005, and that it has received a delisting warning from the Nasdaq exchange for failing to file a financial statement on time.

 

As GenomeWeb News reported this morning, the earnings restatements were traced to 163,259 shares of Lifecodes, which Orchid acquired in December 2001, which were valued at $1.6 million and that should have been recorded at the settlement date as a non-operating gain and an acquisition of treasure stock, according to Orchid.

The Scan

Enzyme Involved in Lipid Metabolism Linked to Mutational Signatures

In Nature Genetics, a Wellcome Sanger Institute-led team found that APOBEC1 may contribute to the development of the SBS2 and SBS13 mutational signatures in the small intestine.

Family Genetic Risk Score Linked to Diagnostic Trajectory in Psychiatric Disorders

Researchers in JAMA Psychiatry find ties between high or low family genetic risk scores and diagnostic stability or change in four major psychiatric disorders over time.

Study Questions Existence of Fetal Microbiome

A study appearing in Nature this week suggests that the reported fetal microbiome might be the result of sample contamination.

Fruit Fly Study Explores Gut Microbiome Effects on Circadian Rhythm

With gut microbiome and gene expression experiments, researchers in PNAS see signs that the microbiome contributes to circadian rhythm synchronicity and stability in fruit flies.