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Sequenom Reports Fourth Quarter and Full Year 2010 Financial Results
Date:3/8/2011

s of $135.5 million. Net cash used in operating activities was $42.6 million for 2010 compared to $48.7 million for 2009.

"2010 marked a turning point for the organization," said Harry F. Hixson, Jr., Ph.D., chairman and chief executive officer. "We started 2010 with a list of important milestones to achieve and by the end of the year we had successfully attained all our important goals. Sequenom CMM completed their T21 'locked assay' study, and the results were published in the American Journal of Obstetrics and Gynecology in March 2011. This peer-reviewed publication by Sequenom CMM scientists showed that massively parallel shotgun sequencing is a viable testing methodology for trisomy 21 detection. In December, Sequenom CMM initiated a blinded large cohort clinical validation study for the trisomy 21 laboratory developed test or 'LDT'. We remain on track to complete this study by the end of the second quarter of 2011. Sequenom CMM's goal is to bring the trisomy 21 LDT to market by the end of 2011 or early 2012 upon the publication of the validation study results. Additionally, we are on track for Sequenom CMM to bring to market its genetic LDT for age-related macular degeneration a common eye disorder of the elderly, later in 2011."

Paul V. Maier, chief financial officer, stated, "We are very pleased with the performance of our genetic analysis business in 2010. We achieved improved gross margins while reducing our investment in inventory and receivables to support this segment. We see promising signs of continued growth for this business segment. We are also pleased that the consolidated federal securities class actions have been settled. Additionally we finished 2010 with steady growth in our diagnostics segment and strengthened our balance sheet through two successful financings which, we believe, will provide sufficient cash to finance operations into early 2013."

2010 AccomplishmentsFinancing – In 2010 the company successfu
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SOURCE Sequenom, Inc.
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