Skip to main content
Premium Trial:

Request an Annual Quote

Sequenom Cuts 2008 Revenue Forecast

NEW YORK (GenomeWeb News) – Sequenom today lowered its revenue forecast for 2008 by 5 percent compared to earlier forecasts, citing softer than expected sales in the US market for its first quarter.
 
The San Diego-based firm revised its 2008 guidance downward to a range between $50 million and $53 million from previous guidance of between $53 million and $56 million. Its expected net loss, however, remained unchanged from previous estimates of $30 million to $33 million for the year.
 
Sequenom said that although first quarter revenues will exceed expectations, sales of its MassArray systems in the US were soft. The firm believes economic uncertainties are having a negative affect on purchases of capital equipment by research and academic institutions.
 
Sequenom also slightly lowered its forecast for R&D and SG&A spending for the year. It is projecting R&D spending of $24 million to $26 million versus an earlier forecast of $26 million to $28 million. It expects to report SG&A spending of $32 million to $34 million versus the earlier forecast of $34 million to $36 million.
 
“Although we remain cautiously optimistic that the softness in the US market is temporary and that it will not spread to other markets, we consider it prudent to update our 2008 revenue guidance,” Sequenom President and CEO Harry Stylli said in a statement.
 
The firm anticipates releasing its first-quarter 2008 results on April 30.

The Scan

Mosquitos Genetically Modified to Prevent Malaria Spread

A gene drive approach could be used to render mosquitos unable to spread malaria, researchers report in Science Advances.

Gut Microbiomes Allow Bears to Grow to Similar Sizes Despite Differing Diets

Researchers in Scientific Reports find that the makeup of brown bears' gut microbiomes allows them to reach similar sizes even when feasting on different foods.

Finding Safe Harbor in the Human Genome

In Genome Biology, researchers present a new approach to identify genomic safe harbors where transgenes can be expressed without affecting host cell function.

New Data Point to Nuanced Relationship Between Major Depression, Bipolar Disorder

Lund University researchers in JAMA Psychiatry uncover overlapping genetic liabilities for major depression and bipolar disorder.