Clinical Data's Profits Fall by 59 Percent in Q3; Revenues Essentially Unchanged
Clinical Data this week announced a slight decrease in revenues and a 59-percent decrease in net income for the third quarter.
For the quarter ended Sept. 30, Clinical Data reported revenues of $12.9 million, down a hair from $13 million the same quarter a year ago. Clinical Data's net income decreased to $377,000, or $0.09 per basic share, in Q3, from $910,000, or $0.21 per basic share, in the year-ago period.
The company did not break out R&D expenses or cash on hand.
In October, Clinical Data closed on a $56 million acquisition of Genaissance.
"Our efforts at integrating the operations of Genaissance Pharmaceuticals are progressing well as we refocus Genaissance's service offerings and streamline its operations," Israel Stein, Clinical Data's president, said in a statement.
DNAPrint Acquires Ellipsis Biotherapeutics in All-Stock Deal
DNAPrint Genomics said this week that it will acquire the core clinical genomics and genotyping assets of Ellipsis Biotherapeutics in an all-stock transaction.
Under the terms of the agreement, Ellipsis will sell its core assets in exchange for 6,500,000 shares of DNAPrint Genomics' common stock. Based on DNAPrint's share price today, the deal would be worth approximately $112,000. The transaction is expected to be completed by Nov. 30.
DNAPrint said it will retain Ellipsis' employees and business operations, and will retain the Ellipsis Biotherapeutics name as a subsidiary.
This is the fourth major acquisition that DNAPrint has made in the past six months. In June, the company acquired Trace Genetics in an all-stock deal; in July, the firm bought 18 percent of BioFrontera for approximately $1.8 million; and earlier this month DNAPrint purchased Kenna Technologies in another all-stock deal.
Solexa Revenues Rise in Q3 with Lynx Business; Firm Reaffirms Launch Date for New Sequencer
Solexa this week reported an increase in revenues for the quarter ended Sept. 30 and reaffirmed its production timeline for 2006.
Solexa's revenues for the third quarter rose to $844,000 from $31,000 in the same period a year ago. The reported financial results for third quarter 2005 include results from Lynx Therapeutics, whose genomics service business Solexa added on March 4. The financial results from 2004 do not include Lynx.
Soelxa generates revenues from service fees generated from the genomics service business. Revenue does not yet reflect fees from Solexa's reversible-terminator and the Clonal Single Molecule Array DNA sequencing platform. GenomeWeb News reported last month that the company demonstrated the technology could be applied to resequence human DNA.
"We are on track with our stated milestones of completing the introduction of our genetic analysis instrument later this year and continue to expect commercial instrument sales in the first half of 2006," John West, chief executive officer, said in a statement.
The company spent $4.5 million on research and development costs this quarter.
Solexa reported a net loss for the third quarter 2005 swell to $10.8 million, or $.43 per share, from $3.2 million, or $3.07 per share, year over year.
Solexa ended the third quarter with approximately $19 million in cash and cash investments as of Sept. 30.
ABI Licenses Real-Time Thermal Cycler Patents to Eppendorf
Applied Biosystems has granted Eppendorf a worldwide, royalty-bearing license to its real-time thermal cycler patents, ABI said last week.
The patents covered by the deal are US Patent No. 6,814,934 and foreign equivalents, ABI said.
According to ABI, Eppendorf will have the right to manufacture and sell real-time thermal cyclers in the research and applied fields.
Financial terms of the arrangement were not disclosed.
Illumina to Perform Large-Scale Genotyping for UK Colorectal Cancer Project
Illumina will provide genotyping services to colorectal cancer researchers funded by Cancer Research UK, the company said last week.
The multi-million dollar project will focus on colorectal cancer susceptibility, genetic mutations, and the progression of the disease. The agreement, extending over several years, consists of two major phases.
Both phases will use Illumina's Sentrix arrays and Infinium assay.
In the first phase, Illumina will genotype samples from 4,000 classified colorectal patients and controls with Sentrix HumanHap-1 BeadChip and Sentrix HumanHap-1S BeadChip using the Infinum assay.The two BeadChips will enable genotyping of over 500,000 SNPs per sample, the company said.
In the second phase, Illumina will genotype over 10,000 samples using a custom multi-sample BeadChip to analyze 20,000 SNPs per sample.
SNP content is derived from TagSNPs identified in the HapMap Project.
Illumina will work with two research groups: one based in Edinburgh and led by Edinburgh University's Colon Cancer Genetics Group, and the other based in London and consisting of the Molecular and Population Genetics teams from the Institute of Cancer Research and Cancer Research UK's London Research Institute.
NSF, USDA, DOE Allocate $30M to Sequence Maize Genome
The National Science Foundation and the US Departments of Agriculture and Energy have allocated nearly $30 million to sequence the maize genome, and has enlisted the help of four research institutions to complete the project.
Washington University, the University of Arizona, Iowa State University, and Cold Spring Harbor Labs will help the agencies complete the project.
Washington University said scientists will sequence a maize cultivar known as B73 that is commonly used in maize genetics research. Sequencing is scheduled to begin next month, and information will be available online in early 2006. Scientists estimate the project will take three years.
The University of Arizona, Cold Spring Harbor Labs, and Washington University worked together previously in sequencing the rice genome, which was completed in August.
Last month, the NSF awarded $4.5 million to Purdue University to sequence the soybean genome.
Nasdaq Removes Ciphergen from Biotech Index
Ciphergen Biosystems has been removed from the Nasdaq Biotechnology Index as part of an semi-annual update, the exchange said this week.
The index, which can be seen here, currently lists 152 companies. As part of the re-ranking, seven will be removed and 17 added. The changes take effect at the start of trading on Monday, Nov. 21.
The exchange updates NBI semi-annually, in May and November. Securities must meet the maintenance criteria of $100 million in market capitalization and 50,000 shares average daily trading volume to remain in the index. Securities missing the criteria for two consecutive rankings are removed.
Research Consortium to Use GeneGo's MetaCore in Nutrigenomic Research
GeneGo expanded its partnership with European research group TNO into a consortium of other nutrigenomics researchers, the company announced this week.
The consortium will consist of 23 universities and research institutes active in nutrigenomics research, including employees from TNO, an independent nutrition research institute, the Dutch Nutrigenomics Consortium, and the European Nutrigenomics Organization.
Consortium members will use GeneGo's MetaCore 3.0 software to build metabolic/signaling networks with experimental data and to share experiments and results with each other.
"Upon our request, GeneGo has extended its software with a metabolomics parser, allowing simultaneous visualization of gene expression and metabolite concentration in the same pathways," Ben van Ommen, responsible for the nutrigenomics activities at TNO and director of NuGO, said in a statement.
Orchid to Provide Genotyping Services to Animal Health Firm Merial
Orchid Cellmark will provide cattle genotyping for Merial, an animal health company and joint venture between Sanofi-Aventis and Merck, Orchid said this week.
The development and service agreement is for two years, and genotyping is expected to begin before the end of this year, Orchid said. Financial details were not disclosed.
Orchid's genotyping will support Merial's Igenity service, which provides breeders with genetic data relating to characteristics such as meat quality and milk production.
NOTE: Due to the Thanksgiving holiday in the US, Pharmacogenomics Reporter will be published on Tuesday, Nov. 22. We will resume our normal publication schedule on Wednesday, Nov. 30.