Orchid Cellmark

By a GenomeWeb staff reporter
NEW YORK (GenomeWeb News) – Orchid Cellmark grew its second-quarter revenues 5 percent year over year, the company said in its quarterly earnings document late Monday.

The offer is now set to expire Aug. 12, and is the fourth extension as the FTC seeks more information about the deal.

LabCorp extended the offer for 30 days while the FTC continues its review of the $85.4 million acquisition.

So far, around 82 percent of Orchid's outstanding stock has been tendered in the offer.

As of May 17, Orchid shareholders had tendered and not withdrawn about 85 percent of the company's outstanding shares.

While US revenues were flat, UK business increased 28 percent from a year ago.

After a presentation updating the firm's business and increased revenue estimates from analysts, shares of Complete Genomics jumped 83 percent in the month of April.

LabCorp will pay $2.80 for all outstanding shares of Orchid including options.

Genetic Technologies granted a non-exclusive license to Orchid Cellmark for a number of patents covering non-coding analysis, gene mapping, and internal standards.

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