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Sequenom, Inc. Reports Financial Results For The First Quarter Of 2012
Date:5/3/2012

llion.  Net cash used in operating activities was $23.3 million for the first quarter, while purchases of capital equipment for the same period totaled $1.8 million, funded primarily through utilization of the Company's credit facility.  As of March 31, 2012, the Company had borrowed $17.0 million under the credit facility.

Operational UpdatesThe Company recently reported that more than 12,700 total tests, including in excess of 4,900 MaterniT21 PLUS laboratory-developed tests (LDT) offered by Sequenom CMM, were accessioned during the first quarter of 2012, a 140% increase over the same period in 2011.
At the close of the first quarter of 2012, the number of MaterniT21 PLUS samples accessioned on an annualized basis equated to approximately 30,000 tests. As of the last week in April, the 52-week run rate had increased to more than 45,000 tests.  

"The first quarter of 2012 has been an active and productive one for Sequenom and Sequenom CMM, as we have received and responded to the strong interest in Sequenom CMM's testing services, particularly with regard to Sequenom CMM's MaterniT21 PLUS LDT," said Harry Hixson, Jr., Ph.D., Chairman and CEO of Sequenom.  "It is our goal to build on this positive momentum as the year progresses.  We will continue to expand our reach to meet growing demand and deliver on our objective of providing high quality testing services offered by Sequenom CMM to physician customers nationwide."

Due to the successful growth in adoption year-to-date, the Company also increased its internal goal to 40,000 MaterniT21 PLUS LDTs billed for the calendar year 2012, up from the original goal of billing 25,000 tests for the year.

In response to the growing commercial interest and demand for its testing services, Sequenom CMM expanded its prenatal sales force during the first quarter, adding 23 new sales representatives, and three additional retinal sales representatives,
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SOURCE Sequenom, Inc.
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