At Genetic Future, Daniel MacArthur points out a press release from Decode Genetics on their second quarter financials. According to the release, the company brought in $3.5 million for 2009 as compared to $9.0 million for the same quarter last year. "The goal of our strategic review is to recast deCODE as a diagnostics company positioned to lead in this growing new market," CEO Kari Stefansson says in the statement. He adds: "We are also advancing our strategic negotiations on several fronts, including the sale of our US medicinal chemistry and structural biology units; finding buyers or licensing partners to take forward our therapeutics programs; additional licensing deals for our intellectual property and diagnostic tests; and securing new equity financing."
MacArthur comments that he hopes they find a solution. "The loss of deCODE would be a genuine and substantial blow to the field of complex trait genetics," he writes.
In related news, The Scientist reports that Altus Pharmaceuticals, based in Waltham, Mass., is holding on with $8.1 million left, which will see it through to September. The company is looking for $10 million to finish a clinical trial.