Skip to main content
Premium Trial:

Request an Annual Quote

Sequenom Says $3M Charge to Shutter Swedish Space Hurt Net Loss

NEW YORK, July 31 - Sequenom today said that the cost of shuttering a facility in Sweden amidst modest revenue growth caused net loss to nearly double.


The company said total revenue for the period ended was $9.2 million compared with $7.4 million in the same period one year ago. The increase was supported across all three of the company's revenue streams: sales increased by about $700,000 to $5.7 million; services jumped to $3.4 million from $2.3 million; and research receipts swelled to $9.2 million from $7.4 million, all year over year for the second quarter, the company reported.


Total expenses for the second quarter 2002 surged to $24.7 million from $17.6 million one year ago, led by a jump in R&D spending to $8.1 million from $6.8 million in the year-ago period. Sequenom also said it took a $3 million charge in the quarter for closing a facility in Uppsala in September as part of its acquisition of Gemini Genomics that month.


As a result, net loss for the period ballooned to $14.5 million, or $.39 per share, from $8.7 million, or $.36 per share, in the year-ago quarter. Without the $3 million charge Sequenom said the net loss in the current second quarter would be $11.5 million, or $.31 per share.


The company said it had about $114 million in cash, cash equivalents, short-term investments, and restricted cash as of June 30.


Click here for more information.

The Scan

More Boosters for US

Following US Food and Drug Administration authorization, the Centers for Disease Control and Prevention has endorsed booster doses of the Moderna and Johnson & Johnson SARS-CoV-2 vaccines, the Washington Post writes.

From a Pig

A genetically modified pig kidney was transplanted into a human without triggering an immune response, Reuters reports.

For Privacy's Sake

Wired reports that more US states are passing genetic privacy laws.

Science Paper on How Poaching Drove Evolution in African Elephants

In Science this week: poaching has led to the rapid evolution of tuskless African elephants.