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SEQUENOM Reports Second Quarter 2009 Financial Results and Highlights
Date:8/6/2009

al clinical development for Shire Pharmaceuticals. Prior to joining Shire, Ms. Keller was head of development operations and clinical trial recruitment services for Pfizer Global Research and Development.

An integral part of the company's launch plans for all its diagnostic products is ensuring ongoing dialogue with managed care providers. Joseph Zimmerman recently joined SEQUENOM to oversee this function as vice president of managed care. Previously, Mr. Zimmerman held a number of positions at AmeriPath, most recently as vice president of managed care. Prior to joining AmeriPath, Mr. Zimmerman served as director of managed care, Midwest Division, LabCorp.

2009 Guidance

SEQUENOM is updating its 2009 financial guidance as follows:

Genetic Analysis:

  • Revenues to range between $32 million and $35 million.
  • Gross margin of approximately 57% in 2009.
  • Net loss of approximately $11 million.
  • Cash burn of breakeven to $2 million.

Molecular Diagnostics

  • Revenue guidance is not being provided.
  • Net loss of approximately $54 million.
  • Cash burn of approximately $52 million to $55 million.

Consolidated

  • Net loss of approximately $65 million, which includes approximately $12 million in non-cash FAS 123R expenses.
  • Cash burn of approximately $52 to $57 million. The increase in burn rate is due to increased legal expenses, and increased expenses associated with the ramp up of the company's diagnostics efforts.

About SEQUENOM

SEQUENOM is a life sciences company committed to providing the best genetic analysis products that translate the results of genomic science into solutions for molecular dia
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SOURCE SEQUENOM, Inc.
Copyright©2009 PR Newswire.
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