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SEC Investigating Sequenom over Down Syndrome Test

NEW YORK (GenomeWeb News) – Sequenom disclosed in a filing with the US Securities and Exchange Commission Tuesday that the SEC is investigating the firm over its announcement in late April regarding the mishandling of R&D test data and results for its SEQureDx Down syndrome test.

The filing does not detail the SEC's concerns, but Sequenom said that it intends to "cooperate fully with the SEC in this matter." It added, "Our internal investigation is ongoing."

The firm had announced in late April that the mishandling of the test data meant that it would delay launch of the test until the third quarter of this year. The firm had previously expected to launch the test in June.

It also said that it had suspended four employees, put a new team in place to oversee studies of its prenatal diagnostics, and had convened an internal investigation.

The announcement led to the filing of several class action shareholder suits against Sequenom.

Earlier in June, shares of Sequenom jumped sharply on rumors that the firm may be close to finishing its internal investigation. However, the company has not indicated that such an announcement is imminent.

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