Enduring Lay-offs and Restructuring, Transgenomic Leans on Services Unit. Will Investors Stick Around? | GenomeWeb

With the lay-off of 60 employees and the sale of its money-losing oligonucleotide-manufacturing facility announced Nov. 15, Transgenomic aims to save between $10 million and $12 million annually (see Pharmacogenomics Reporter, 11/18/2004).

Investors sent Transgenomic’s stock into a prolonged slide that brought it from $1.52 on the business day before the announcement to $1.22 on Nov. 30, a drop of about 20 percent. Prior to the announcement, the company’s stock had risen about 26 percent from Sept. 17 to its Nov. 12 high.

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