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Takara Bio

The firm sold four ICell8 Single-Cell Systems, but noted the sales cycle is longer than anticipated and it is thus lowering full-year revenue guidance. 

Last month, the companies announced that Takara Bio USA — formerly Clontech Laboratories and now a subsidiary of Japan's Takara Bio — would acquire WaferGen.

Takara said it will pay an aggregate cash purchase price that will be based on a multiple of WaferGen's 2016 revenues, capped at $50 million.

The company said it placed two ICell8 Single-Cell Systems during the quarter, doubling the number of systems placed since the product's launch last October.

The companies will combine their respective technologies and expertise to develop new products for low-input, targeted RNA-seq applications.

The firm said that product revenues in Q4 2015 were up about 50 percent year over year, while license and royalty revenues remained flat.

The company attributed the growth in quarterly revenue to sales of its existing products and early interest in its new single-cell genomics system.

The company's stock faces a potential delisting from Nasdaq for failing to meet the stock exchange's $1 minimum bid price for 30 consecutive days.

During the quarter the firm launched its ICell8 Single Cell System and made a public offering of stock that raised $17.3 million.

WaferGen's Apollo 324 NGS library preparation technology will be used for sequencing-based genetic testing in reproductive health.

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