Skip to main content
Premium Trial:

Request an Annual Quote

Stratagene Stock Sinks 9.6 Percent on Lowered 05 Profit Outlook

NEW YORK, Aug. 10 (GenomeWeb News) - Shares in Stratagene were down 9.61, or $.98, at $9.22 in mid-afternoon trading today after the company revised its profit outlook for the remainder of the year

 

Stratagene said that net earnings would likely be lower by $.06 per share than earlier expected. The company is now predicting earning between $.33 and $.37 per share for 2005 instead of the $.39 to $.43 earnings per share it had earlier predicted.

 

In its news release, Stratagene said the "expected impact from legal costs associated with two pending patent litigation matters" had caused it to make the adjustment.

 

As GenomeWeb News reported, revenues for the quarter grew 26 percent to $24.9 million from $19.7 million for the year-ago period. The company saw growth across its life science and diagnostics businesses, with quantitative PCR being the fastest growing product line in life sciences.

 

R&D expenses were flat at $2.9 million, compared to $2.8 million during the year-ago period.

 

The company's net income for the quarter was $2.1 million, or $.1 per share, up 40 percent over last year's income of $1.5 million, or $.08 per share, during the same period. Net income this quarter was positivley impacted by lower interest expenses due to a reduction in outstanding debt.

 

As of June 30, Stratagene had $5.7 million in cash, cash equivalents, and marketable securities.

The Scan

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.

Breast Cancer Risk Gene Candidates Found by Multi-Ancestry Low-Frequency Variant Analysis

Researchers narrowed in on new and known risk gene candidates with variant profiles for almost 83,500 individuals with breast cancer and 59,199 unaffected controls in Genome Medicine.

Health-Related Quality of Life Gets Boost After Microbiome-Based Treatment for Recurrent C. Diff

A secondary analysis of Phase 3 clinical trial data in JAMA Network Open suggests an investigational oral microbiome-based drug may lead to enhanced quality of life measures.

Study Follows Consequences of Early Confirmatory Trials for Accelerated Approval Indications

Time to traditional approval or withdrawal was shorter when confirmatory trials started prior to accelerated approval, though overall regulatory outcomes remained similar, a JAMA study finds.