As of June 30, 2009, SEQUENOM had total cash, cash equivalents and short- and long-term marketable securities of $69.3 million and $7.5 million in accounts receivable.
"This recent period has been a challenging time for SEQUENOM. Our announcement at the end of April was immensely disappointing and has resulted in a setback in our molecular diagnostics programs. However, I believe we are at a point where we can look forward to other promising developments for SEQUENOM," said Harry Stylli, PhD, president and CEO of SEQUENOM. "We have made improvements to our MassARRAY platform and we are poised to introduce a series of molecular diagnostics tests to the market, including the first of those based on cell free fetal nucleic acids."
2009 Second Quarter and Recent Highlights
Compact 96 Launch - With the launch of the Compact 96 system the company continues to make improvements to its MassARRAY platform. This next generation MassARRAY system addresses the needs of lower throughput laboratories. The combination of the features of the new MassARRAY Compact 96 system - accuracy, sensitivity, and now the ability to cost-effectively run fewer samples, make this new offering an ideal system for use in clinical laboratories.
OncoCarta Panel - The company continues to benefit from market acceptance of the OncoCarta panel. OncoCarta is a comprehensive multi-gene panel available for profiling rare somatic mutations. It enables researchers to rapidly profile genetic changes associated with tumor initiation and progression. The company expects to add more oncogenes and mutations to the OncoCarta panel in the near future.
Commercial Launch Plans - The company is on track to launch three diagnostic products through its CLIA laboratory by the first quar
|SOURCE SEQUENOM, Inc.|
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