Sequenom (SQNM) Lowers 2nd-Half Revenue Outlook

Sequenom (NASDAQ: SQNM) is updating its revenue expectations for the second half of the year to a range between $57 million and $61 million, bringing 2015 annual revenue expectations to a range between $127 million and $131 million. This versus the consensus of $141 million.

Drivers for the updated expectations include increased competition and price compression in the noninvasive prenatal testing (NIPT) market.

"2015 has been and is a pivotal year for Sequenom. It is also a year of transition," stated Dirk van den Boom, Interim President and CEO of Sequenom. "Importantly, we continue to make significant progress implementing our strategy in reproductive health, including advancing our in-network strategy, and improving our reach into the broader NIPT market with new product launches. Within reproductive health, I am particularly enthusiastic about our MaterniT™ GENOME laboratory-developed test. This launch represents an exciting new test that should allow for future growth in the NIPT market. Moreover, we continue to make progress in oncology. We plan on elucidating in greater detail both our reproductive health business and our oncology opportunity at the September 28 Analyst Day. In parallel, we are focused on increasing our organizational effectiveness, and operational efficiency to ensure Sequenom's industry leadership position."

The Company expects to announce its financial results for the third quarter on November 4, 2015, and will provide further discussion of its operating results at that time.

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