NEW YORK (GenomeWeb News) – The stock of Quest Diagnostics this week was downgraded by Zacks Equity Research to Underperform. In a statement, the investment research and information firm noted a drop in Quest's revenues and earnings-per-share for continuing operations in the fourth quarter, as well as a "disappointing outlook" for the first quarter of 2013.
"The current market environment remains challenging for Quest Diagnostics due to commercial pricing pressures and Medicare cuts … which may lead to a 3 percent reimbursement decline in 2013," according to Zacks.
DNA Genotek this week introduced its GenoFIND Genomic Services Award, which is designed to facilitate analysis of nucleic acid samples. The award will provide US$10,000 in GenoFIND services — including nucleic acid extraction, SNP genotyping, PCR-based assays, whole-genome and targeted sequencing, array-based SNP and expression profiling, custom assay development, and bioinformatic analysis — to the selected winner.
Ottawa-based DNA Genotek is accepting award entries from researchers at academic institutions and non-profit research centers until March 1, with the winner to be notified on March 1.
Information about the award and submissions can be found here.
Miami Beach, Fla.-based Heart Genomics, a startup developing genomic-based tests for heart failure patients, has received a loan from the state's Institute for the Commercialization of Public Research. The amount of the loan has not been disclosed.
Jamie Grooms, CEO of ICPR, which is a non-profit organization that provides funding for technologies and companies spun out of research universities and institutions, said the tests being developed by Heart Genomics are based on research conducted in the lab of Joshua Hare at the University of Miami's Interdisciplinary Stem Cell Institute.
Hare is the scientific founder of Heart Genomics.
In Brief This Week is a Friday column containing news items that our readers may have missed during the week.