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Third Wave Stock Price Drops 7.8 Percent On News of Stratagene Suit

May 12, 2005

NEW YORK, May 12 (GenomeWeb News) - The share price of Third Wave Technologies has fallen 7.8 percent, or $.31, as investors reacted warily to the news that the company is being sued by Stratagene for alleged infringement of two of that company's copyrights.

 

Stratagene said Third Wave's Invader technology infringed on two of the four patents behind its FullVelocity line of Q-PCR products mid-day on May 9. Third Wave's stock price stood at $4.26 when the market closed May 9, and has dropped to $3.95 in mid-after noon trading today.

 

Third Wave sued Stratagene in September, claiming that FullVelocity patents infringed on its Invader patents. That suit is ongoing.

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