Sequenom (SQNM) Prelim FY12 Revs Come in Ahead of Views
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Price: $2.39 --0%
Financial Fact:
Cost of diagnostic services: 13.75M
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Cost of diagnostic services: 13.75M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Sequenom, Inc. (NASDAQ: SQNM) announced preliminary highlights of the Company's 2012 performance and accomplishments.
Initial 2012 Performance Results (unaudited)
* Total revenue of approximately $89 million, growth of approximately 59 percent year-over-year for 2012. The Street was looking for revs of $85.3 million.
* Diagnostic services revenues of approximately $46 million, compared to $8.3 million in 2011. Diagnostic services revenues continue to be recorded primarily as cash is received
* Sales in the Genetic Analysis business of approximately $43 million
* More than 92,000 total prenatal and retinal diagnostic tests accessioned during the year
Strong increases in the adoption rate and sales of Sequenom Center for Molecular Medicine's (Sequenom CMM) MaterniT21 PLUS lab-developed test (LDT):
* More than 60,000 MaterniT21 PLUS tests accessioned in 2012
* An annualized run rate of more than 120,000 MaterniT21 PLUS tests accessioned at the end of 2012
* Approximately 56 million lives under coverage with growing number of payor contracts
* Continued reimbursement as an out-of-network laboratory from large commercial payors
* Total cash, cash equivalents, and marketable securities as of December 31, 2012 were approximately $176 million
* Cash burn of approximately $17 million for the fourth quarter of 2012
Initial 2012 Performance Results (unaudited)
* Total revenue of approximately $89 million, growth of approximately 59 percent year-over-year for 2012. The Street was looking for revs of $85.3 million.
* Diagnostic services revenues of approximately $46 million, compared to $8.3 million in 2011. Diagnostic services revenues continue to be recorded primarily as cash is received
* Sales in the Genetic Analysis business of approximately $43 million
* More than 92,000 total prenatal and retinal diagnostic tests accessioned during the year
Strong increases in the adoption rate and sales of Sequenom Center for Molecular Medicine's (Sequenom CMM) MaterniT21 PLUS lab-developed test (LDT):
* More than 60,000 MaterniT21 PLUS tests accessioned in 2012
* An annualized run rate of more than 120,000 MaterniT21 PLUS tests accessioned at the end of 2012
* Approximately 56 million lives under coverage with growing number of payor contracts
* Continued reimbursement as an out-of-network laboratory from large commercial payors
* Total cash, cash equivalents, and marketable securities as of December 31, 2012 were approximately $176 million
* Cash burn of approximately $17 million for the fourth quarter of 2012
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