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Transgenomic Shares Jump 22 Percent After CEO Said Positive Cash Flow Likely

NEW YORK, July 13 (GenomeWeb News) - Shares in Transgenomic were up 22 percent, or $.17, at $.94 in late-afternoon trading after the company's CEO said the firm "should" reach neutral to positive operating cash flow by the end of the year.

 

Speaking to investors at Transgenomic's annual shareholder meeting today, Collin D'Silva said the company's recently completed restructuring will help the company "accelerate" revenue growth during the second half of the year, which he said would "approach" 20 percent on a year-over-year basis.

As GenomeWeb News reported last November, Transgenomic restructured its business and exited the oligonucleotide-manufacturing space in order to focus on its BioSystems segment.

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