Despite its well-received genome-wide association scan papers, DeCode Genetics is on the brink of extinction, says Technology Review. According to the article, DeCode has spent more than $600 million, never made a profit, and has $3.7 million left as its stock hovers at 57 cents, down from $29 when the company first launched. Founder Kari Stefansson recently told investors that he is re-envisioning DeCode as a gene-based diagnostics company. Tech Review's David Ewing Duncan says this may not be the end. "As for the possible demise of its research operation, I suspect that DeCode's high-profile collaborators in academia will come to the rescue if all else fails. Recent papers list the likes of the National Institutes of Health and the Wellcome Trust in the United Kingdom as financial supporters of individual studies," Duncan writes.
All Good Things...
Aug 19, 2009