Sequenom Scores on Down Syndrome Detection
Sequenom, Inc. (NASDAQ: SQNM) is having a major trading response to its Down Syndrome testing news. The genetic-analysis and molecular diagnostic solutions provider gave additional positive results from screening studies on its noninvasive circulating cell-free fetal nucleic acid SEQureDx™ Technology.
This is to enable the detection of fetal aneuploidy, including Down syndrome from maternal blood. The presentation is from its Sequenom’s analyst briefing in New York City.
Sequenom’s test demonstrated no false positives and no false negatives in both first and second trimester samples. Over 200 samples were announced today and this is now in excess of 400 prospective samples to-date. Sequenom executives were joined by a panel of leading scientists and clinicians to discuss these study results and updates in the development of noninvasive prenatal diagnostics.
With the abundance of women having children later and later in life, Down Syndrome testing is going to be more important than ever. In fact, it could be front and center after the election as VP-candidate Palin’s family is affected by this.
Jon Ogg
September 24, 2008
Small BioHealth Cash Raises (IMGN, SQNM, GNBT)
Between Friday’s close and early Monday morning we have already seen some small capital raise filings for securities sales from small BioHealth players.
ImmunoGen, Inc. (NASDAQ: IMGN) announced that Ziff Asset Management, L.P. has purchased roughly 7.8 million shares of ImmunoGen’s common stock at $3.20 per share. The shares were offered under an effective shelf registration statement previously filed with the SEC. Proceeds to ImmunoGen after expenses are expected to be approximately $24.7 million. MARKET CAP: $129 Million.
Sequenom Inc. (NASDAQ: SQNM) hasn’t given any numbers but the company has filed an automatic shelf registration with the SEC that will allow it to raise capital. While the numbers and terms aren’t known and aren’t certain, it filed to sell common stock, preferred stock, debt securities, and warrants. MARKET CAP: $647 Million.
Generex Biotechnology Corporation (NASDAQ: GNBT) filed after the close on Friday a shelf registration on behalf of holders who already purchased securities. This will allow for the resale of up to 22,527,275 shares of common stock issuable upon conversions of a $20,650,000 principal amount of 8% Secured Convertible Notes due September 2009, and up to 51,198,347 shares of common stock issuable upon the exercise of Warrants. MARKET CAP: $107 Million.
Jon Ogg
June 23, 2008
Many Laggards in Biotech Stocks Today (ACHN, CRXL, MNKD, SQNM, CYTR, CYTX, INGN, ATHX, MITI, GTOP)
There have been many mystery movers today in biomed land and some are news carry-on moves while others are head-scratchers. Out of the many names we follow in biotech, here are some losers as of 1:50 PM EST that stand out compared to the normal days:
Achillion Pharmaceuticals, Inc. (ACHN) $2.45 Down $0.30 Down 10.91%
Additional ‘positive’ top-line phase 2 data for Elvucitabine
Crucell NV (CRXL) $18.13 Down $0.64 Down 3.41%
No fresh news
MannKind Corp. (MNKD) $2.7999 Down $0.1801 Down 6.04%
No fresh news besides tied to Novo’s news yesterday.
Sequenom Inc. (SQNM) $12.17 Down $0.66 Down 5.14%
Sued yesterday by Beckman and partner Orchid.
CytRx Corporation (CYTR) $0.7733 Down $0.0567 Down 6.83%
Drop on second day after Lou Gehrig’s drug delay.
Cytori Therapeutics, Inc. (CYTX) $7.94 $Down 0.62 Down 7.24%
No fresh news today, post patent selling after big 2-day move.
Introgen Therapeutics Inc. (INGN) $1.68 Down $0.09 Down 5.08%
No news, thin volume
Athersys, Inc. (ATHX) $2.80 Down$ 0.29 Down 9.39%
No news yet out of diabetes and obesity conference, ahead of data but super thin volume
Micromet, Inc. (MITI) $2.42 Down $0.20 Down 7.63%
No news, but presented non-Hodgkins data last week.
Genitope Corp. (GTOP) $0.075 Down $0.013 Down 14.29%
Received NASDAQ letter on listing, but very low stock price so no surprise.
Jon Ogg
June 10, 2008
Sequenom Scores on Down-Syndrome Tests (SQNM)
Sequenom Inc. (NASDAQ: SQNM) released some data early this morning that is driving shares higher. The genetic analysis solution company announced its progress with a non-invasive technology that detects Down syndrome in a mother’s blood analysis.
The company noted that in blinded studies involving about 200 clinical samples, Sequenom’s proprietary test identified all of the Down syndrome samples and it did so with no false positive readings. Its also plans to start a multi-site validation study of what will ultimately be several thousand samples in Q4-2008 and will then launch the Down-syndrome test as a lab developed test in the U.S. in first-half 2009.
Sequenom will continue developing the test this year and it will then transfer the technology to its laboratory partners.
With an hour to go before the open, shares of Sequenom are trading up about 14% to $8.75. It has also traded around 305,000 shares compared to an average daily volume of about 475,000 shares. Its 52-week trading range is $4.25 to $11.63 and its market cap after this jump on a static basis looks to be close to $398 million.
Jon Ogg
June 4, 2008