Skip to main content
Premium Trial:

Request an Annual Quote

Sequenom Shares Climb 11 Percent, then Fall 13 Percent on News of CEO Schuh s Resignation

This update inlcudes share price information.

 

NEW YORK, Feb. 9 (GenomeWeb News) - Shares in Sequenom plunged 12.87 percent, or $.22, to $1.49 in mid-afternoon trading shares after the company said CEO Toni Schuh has resigned.

 

The shares closed up 11 percent at $1.71 after the company made the abrupt announcement last night, but the gains were quickly erased in overnight and early-morning trading today.

 

As GenomeWeb News reported this morning, Schuh has resigned as CEO of the company and as a director, according to a terse statement Sequenom issued last night. Steve Zaniboni, Sequenom's chief financial officer, will take over Schuh's position while the company looks for a permanent replacement, Sequenom said.

 

Schuh will remain as a consultant to Sequenom for up to 12 months, the company said.

 

According to  Pharmacogenomics Reporter, a GenomeWeb News publication, Schuh has been under pressure from his board to revive the high-throughout genotyping company after a fling with drug discovery hurt revenue growth and investor confidence, and  nearly cost the company its position on the Nasdaq exchange.

 

Since abandoning its drug-discovery business in August, Sequenom has turned its attention toward selling its flagship MassArray genotyping platform -- which has lagged behind rival instruments -- and has signed on new customers. The San Diego-based company is also attempting to grow its presence in the molecular diagnostics industry, and its share price has also rebounded.

The Scan

Panel Recommends Pfizer-BioNTech Vaccine for Kids

CNN reports that the US Food and Drug Administration advisory panel has voted in favor of authorizing the Pfizer-BioNTech SARS-CoV-2 vaccine for children between 5 and 11 years old.

Sharing How to Make It

Merck had granted a royalty-free license for its COVID-19 treatment to the Medicines Patent Pool, according to the New York Times.

Bring it Back In

Bloomberg reports that a genetic analysis has tied a cluster of melioidosis cases in the US to a now-recalled aromatherapy spray.

Nucleic Acids Research Papers on SomaMutDB, VThunter, SCovid Databases

In Nucleic Acids Research this week: database of somatic mutations in normal tissue, viral receptor-related expression signatures, and more.