CuraGen Looking at 'Strategic Options' for 454 as Unit's Revenues Soar in Q2

Jul 27, 2006

NEW YORK (GenomeWeb News) – CuraGen hired investment bank Goldman Sachs “to examine strategic options" for its investment in 454 Life Sciences, the company said today.

It did not provide additional information about this new strategy.

CuraGen made the disclosure as it reported that revenue from 454 helped overall receipts more than double.

CuraGen's total revenues for the three months ended June 30 surged to $10.7 million from $4.3 million during the same period a year ago. 454 contributed $9.8 million in revenues for the quarter, almost three times more than the same period last year.

454's receipts included $5.4 million from sales of its GS20 DNA sequencer and reagents and $2.3 million in service revenue from its sequencing center.

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