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Nanosphere Shares Continued Rise in April

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Shares of Nanosphere rose sharply for the second month in a row, climbing 32 percent in April, to lead all stocks in the GenomeWeb Daily News Index.

Nanosphere led a handful of companies whose stocks rose in the double digits, while CombiMatrix had the steepest decline amid its newly announced restructuring.

Nanosphere did not release any news during the month, and its first-quarter financial results are scheduled for release later this week. However, its stock jumped for the second month in a row, with this month's 32 percent gain following last month's 35 percent increase.

The other firms in the Index that produced double-digit growth for the month were Accelr8 (+15 percent), Cepheid (+14 percent), Accelrys (+13 percent), and Sigma-Aldrich (+11 percent).

Meanwhile, shares of CombiMatrix fell 22 percent for the month of April, as the firm announced that it would restructure its operations, which includes layoffs, moving its headquarters to California, and finding a new CEO. Its plan is to focus its operations on its diagnostics business.

CombiMatrix is expected to provide more details about its plans tomorrow, when it releases its first-quarter 2010 financial results. Its shares were down 3 percent at $3.82 in Monday afternoon trade on the Nasdaq.

Rosetta Genomics' stock had the second-biggest decline for the month, falling nearly 13 percent. However, that drop had followed a 32 percent increase in its stock price in March.

Overall, the GWDN Index climbed 2.9 percent. In comparison, the Dow Jones Industrial Average increased 1.4 percent, the Nasdaq rose 2.6 percent, and the Nasdaq Biotech Index was nearly even with its close in March.

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