Skip to main content
Premium Trial:

Request an Annual Quote

Sequenom Posts Q3 Revenue Increase Amid Shrinking Losses and R&D Spending Dip

NEW YORK, Oct. 28 (GenomeWeb News) - Sequenom today reported an increase in revenues for the three months ended Sept. 30, 2003, accompanied by narrowed losses and a drop in R&D spending.

The company's total revenues for the quarter were $7.2 million, compared to $6.9 million for the third quarter of 2002. Product revenues for the company's Genetic Systems business unit were flat at $6.5 million for the quarter, compared to $6.5 million for the year ago period. Revenues for Sequenom's Pharmaceuticals business unit were approximately $600,000 for the quarter, compared to $400,000 for the third quarter of 2002. Sequenom said its Pharmaceuticals revenues were primarily from genetic services.

Sequenom's net loss for the quarter decreased to $8.8 million, compared to $17.0 million for the third quarter of 2002.

Research and development expenses dropped 34 percent year-over-year, to $6.0 million in the third quarter of 2003 compared to $9.2 million in the year-ago period.

As of Sept. 30, Sequenom held cash, cash equivalents, short-term investments, and restricted cash totaling $73.2 million.

"We remain on track to achieve our estimated year-end cash balance of $65 million, which we believe should adequately address our cash needs through 2005," said Steve Zaniboni, Sequenom's CFO in a statement.

The Scan

For Better Odds

Bloomberg reports that a child has been born following polygenic risk score screening as an embryo.

Booster Decision Expected

The New York Times reports the US Food and Drug Administration is expected to authorize a booster dose of the Pfizer-BioNTech SARS-CoV-2 vaccine this week for individuals over 65 or at high risk.

Snipping HIV Out

The Philadelphia Inquirer reports Temple University researchers are to test a gene-editing approach for treating HIV.

PLOS Papers on Cancer Risk Scores, Typhoid Fever in Colombia, Streptococcus Protection

In PLOS this week: application of cancer polygenic risk scores across ancestries, genetic diversity of typhoid fever-causing Salmonella, and more.