Cantor Fitzgerald Downgrades Sequenom (SQNM) to Hold
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Cantor Fitzgerald downgrades Sequenom (Nasdaq: SQNM) from Buy to Hold.
Cantor analyst says, "Yesterday, after the close, Sequenom reported data mishandling in the SEQureDx Down syndrome test development program and delayed the planned launch until 1H:10 from June 2009. A formal investigation will be conducted by a specially appointed board and therefore the company has advised that earlier released T21 data should not be relied upon...Further, re-validation of SEQureDx creates uncertainty regarding the test specificity/sensitivity until results become available in 4Q:09, another overhang on the stock, in our view."
Sequenom, Inc. (Sequenom) is a diagnostic testing and genetics analysis company.
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