Skip to main content

Transgenomic to Divest Nucleic Acids Business

NEW YORK, Dec. 30 (GenomeWeb News) - Transgenomic's board of directors has voted to "either sell or liquidate" its nucleic acids operating segment, the company said in an SEC filing yesterday.

 

The move would follow a reorganization of the nucleic acids business early this year that resulted in the layoff of around 60 employees.

 

Transgenomic's board voted to divest the business on Dec. 22, "after an evaluation of, among other things, short and long-term sales projections for products sold by the nucleic acids operating segment, including estimates of 2006 sales to the operating segment's largest customer."

 

The company said that it may close its nucleic acids facility in Glasgow, Scotland, in the first quarter of 2006, which would result in costs of around $1 million primarily related to severance payments.

 

In addition, Transgenomic will record a non-cash impairment charge of between $7 million and $10 million for the nucleic acids operating segment in the fourth quarter of 2005.

 

The company also decided to terminate its employee stock purchase plan, "based on a determination that the anticipated benefits from the plan were not sufficient to justify the ongoing administrative burden and cost of the plan."

The Scan

Gap in COVAX Doses

BBC News reports that COVAX is experiencing a vaccine shortfall, as the Serum Institute of India has paused exports.

Sanofi, GSK Report Promising Results

The Wall Street Journal reports that the candidate SARS-CoV-2 vaccine from Sanofi and GlaxoSmithKline has had encouraging early results.

Influence of Luck

The New York Times examines how the US avoided variant-fueled increases in COVID-19 cases.

PLOS Papers on Retina GWAS, Hantaan Virus, COVID-19 Phenome-Wide Association Study

In PLOS this week: genome-wide association study of retinal morphology, analysis of hantaan virus found in a mouse, and more.