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Sequenom Revenues Drop 24 Percent, Losses Narrow in Q4

The revenue numbers in this article have been corrected from those reported earlier today.

 

NEW YORK, Feb. 10 (GenomeWeb News) - Sequenom today reported total reported that fourth-quarter revenues fell 24 percent to $6.1 million from $8 million for the year-ago quarter.

 

The company spent $3.9 million on R&D for the quarter, down from $6.4 million in the year-ago period.

 

The company cut its net loss to $6.9 million from $10.1 million for the fourth quarter of 2003, a 32-percent improvement for the San Diego-based company.

 

Sequenom reported cash and cash equivalents of $38 million as of Dec. 31, 2004.

 

Looking ahead, Sequenom said in 2005 it plans to launch a product with "enhanced multiplexing levels and advanced gene expression software," and release its first analyte specific reagents for public-domain genetic tests such as Factor V and cystic fibrosis.

 

Sequenom yesterday announced the resignation of CEO Toni Schuh.

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