Skip to main content
Premium Trial:

Request an Annual Quote

Sequenom Launches Public Offering to Raise $54M


Sequenom has launched a public offering of 13 million shares, from which it expects to raise $54 million.

The company plans to use the proceeds for "general corporate purposes, including research and development expenses, capital expenditures, working capital, and general administrative expenses."

In documents filed with the US Securities and Exchange Commission, Sequenom said that it has sufficient capital to operate through early 2013, but that it would need to raise additional funds to support the commercialization of its MaterniT21 test, which it launched in October (CSN 10/19/2011).

Specifically, it said that it would need to increase its direct sales force, enter into collaborative relationships with third parties to expand sales and marketing channels, educate clinicians and other healthcare professionals about MaterniT21, expand its clinical diagnostic laboratory and hospital outreach laboratory customers, and establish and expand its reimbursement arrangements.

As of Dec. 31, 2011, the company had $84.2 million in cash, cash equivalents, and marketable securities.

The public can purchase stock at $4.15 per share, and underwriters can purchase stock at $3.92 per share. Additionally, underwriters have a 30-day option to purchase an aggregate of 1,950,000 shares of common stock to cover over-allotments.

The Scan

Panel Recommends Pfizer-BioNTech Vaccine for Kids

CNN reports that the US Food and Drug Administration advisory panel has voted in favor of authorizing the Pfizer-BioNTech SARS-CoV-2 vaccine for children between 5 and 11 years old.

Sharing How to Make It

Merck had granted a royalty-free license for its COVID-19 treatment to the Medicines Patent Pool, according to the New York Times.

Bring it Back In

Bloomberg reports that a genetic analysis has tied a cluster of melioidosis cases in the US to a now-recalled aromatherapy spray.

Nucleic Acids Research Papers on SomaMutDB, VThunter, SCovid Databases

In Nucleic Acids Research this week: database of somatic mutations in normal tissue, viral receptor-related expression signatures, and more.