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

Study Links Evolution of Longevity, Social Organization in Mammals

With the help of comparative phylogenetics and transcriptomics, researchers in Nature Communications see ties between lifespan and social organization in mammals.

Tumor Microenvironment Immune Score Provides Immunotherapy Response, Prognostic Insights

Using multiple in situ analyses and RNA sequence data, researchers in eBioMedicine have developed a score associated with immunotherapy response or survival.

CRISPR-Based Method for Finding Cancer-Associated Exosomal MicroRNAs in Blood

A team from China presents in ACS Sensors a liposome-mediated membrane fusion strategy for detecting miRNAs carried in exosomes in the blood with a CRISPR-mediated reporter system.

Drug Response Variants May Be Distinct in Somatic, Germline Samples

Based on variants from across 21 drug response genes, researchers in The Pharmacogenomics Journal suspect that tumor-only DNA sequences may miss drug response clues found in the germline.