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Sequenom Reports Preliminary Q4 Revenue of $37M

NEW YORK (GenomeWeb News) – Sequenom today released preliminary financial results for the fourth quarter and full-year 2014, projecting $37 million in fourth-quarter revenue and $151 million in annual revenue.

The revenue projection falls short of analyst estimates of $45 million for the quarter and $161 million for the year.

Sequenom disclosed the preliminary financial results on its website ahead of its presentation at the JP Morgan Healthcare Conference later this week.

The firm estimated that around 162,000 of its MaterniT21 Plus noninvasive prenatal tests were accessioned in 2014, compared to 148,000 tests in 2013. The company expects 200,000 accessioned tests in 2015.

As of year end, Sequenom had around $94 million in cash and investments, according to the presentation.

The company said it expects to see between $6 million and $14 million in test fees and royalties in 2015 related to a NIPT patent pooling arrangement it signed with Illumina late last year. Illumina has already paid Sequenom $50 million in cash as part of the agreement and Sequenom said it expects to receive an additional $80 million through 2020.