Logo

Though Illumina s Q2 Revenues Increase 38 Percent, Stock Drops 14.7 Percent

Jul 27, 2005

NEW YORK, July 27 (GenomeWeb News) - Illumina yesterday reported increased revenues and losses for the second quarter of 2005.

 

The increased loss caused shares in the San Diego SNP-genotyping company to fall 14.68 percent, or $1.91, to $11.10 during mid-afternoon trading.

 

Revenues totaled $15.8 million for the quarter, a 38-percent increase over last year's $11.5 million for the same period.

 

The company's research and development expenses climbed to $7.3 million, up from $5.3 million during the year-ago period.

 

Illumina's net loss amounted to $18.5 million, or $.46 per share, up from $3.5 million, or $.10 per share, during last year's second quarter. This included a $15.8 million write-off of in-process research and development that Illlumina acquired with CyVera in April.

 

As of July 3, Illumina had $54.6 million in cash and investments.

Breaking News
The Scan

Enzyme Involved in Lipid Metabolism Linked to Mutational Signatures

In Nature Genetics, a Wellcome Sanger Institute-led team found that APOBEC1 may contribute to the development of the SBS2 and SBS13 mutational signatures in the small intestine.

Family Genetic Risk Score Linked to Diagnostic Trajectory in Psychiatric Disorders

Researchers in JAMA Psychiatry find ties between high or low family genetic risk scores and diagnostic stability or change in four major psychiatric disorders over time.

Study Questions Existence of Fetal Microbiome

A study appearing in Nature this week suggests that the reported fetal microbiome might be the result of sample contamination.

Fruit Fly Study Explores Gut Microbiome Effects on Circadian Rhythm

With gut microbiome and gene expression experiments, researchers in PNAS see signs that the microbiome contributes to circadian rhythm synchronicity and stability in fruit flies.