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Sequenom, Inc. Reports Financial Results For The Third Quarter Of 2013
Date:11/7/2013

llion for the first nine months of 2013, compared to $65.5 million in the same period in the prior year. This increase included an additional investment of approximately $9.9 million in diagnostic inventory for safety stock to support expanded test capacity and commencement of commercial operations in the Sequenom Laboratories North Carolina facility. While we expect cash burn to fluctuate on a quarterly basis, we expect the cash burn to decline as collections and revenues increase.

The Company also used cash for capital investments of $11.7 million and debt repayments of $5.5 million during the first nine months of 2013. As of September 30, 2013, total cash, cash equivalents, and marketable securities were $84.7 million.

Operational UpdatesThe annualized run rate for the MaterniT21 PLUS test at the end of the third quarter continued to exceed 150,000 samples, despite the reduction in the Medicaid tests accessioned. Sequenom Laboratories believes it will meet its goal of 150,000 samples for the year. "We believe that we continue to be the market leader in NIPT. Based upon our volume and our understanding of the marketplace, we estimate that we have over 60% unit share of the U.S. high-risk pregnancy market," according to William J. Welch, President and Chief Operating Officer.

Sequenom Laboratories continues negotiations with the payor community. As of September 30, 2013, agreements had been executed that cover approximately 90 million lives for the MaterniT21 PLUS test. Importantly, we are receiving payments as an in-network or out-of-network provider from all of the major national payors.

Last month, Sequenom Laboratories announced an important addition to the MaterniT21 PLUS test, a significant achievement and testament to the laboratory's ongoing research and development efforts. This improvement, called the Enhanced Sequencing Series, ushers in a new era for noninvasive testing. With the ability to detect subchromosomal changes, the
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