Courtesy of Benzinga.
Sequenom (NASDAQ: SQNM) announced Sunday, highlights of the Company’s 2011 performance and accomplishments, as well as preliminary activities and goals for the first part of 2012.
Initial 2011 Performance Results Total revenue growth of approximately 23 percent year-over-year for 2011 (unaudited).
Over 21,000 total prenatal and retinal diagnostic tests were billed during the year.
Sales in the Genetic Analysis business segment were up approximately 6 percent from 2010 (unaudited), each quarter improving over the same period in the prior year.
Positive results following the October 2011 launch of Sequenom Center for Molecular Medicine’s (Sequenom CMM) MaterniT21 laboratory developed test:
The MaterniT21 LDT is now available for sale through Sequenom CMM in all 50 states in the U.S., including New York .
The Company received its first payments as an out-of-network provider from major commercial payors within the first billing cycle post-launch. At the close of the year, a new blood draw tube was introduced for the collection of MaterniT21 samples, allowing for blood to be drawn directly at a doctor’s office and shipped at ambient temperature.
“The accomplishments achieved in 2011, particularly in the last quarter with the launch and positive trajectory of the MaterniT21 LDT, are a reflection of the Company’s dedication to achieving our mission to deliver genetic analysis solutions to improve patient care,” said Harry F. Hixson, Jr , Ph.D., Chairman and CEO of Sequenom. “2011 was a year primarily dedicated to reaching our research and development goals, all of which we met. In 2012, our primary focus will be on effective commercialization with an emphasis on the MaterniT21 LDT.”
Looking forward to 2012, Sequenom CMM will continue to expand commercialization of the MaterniT21 LDT, among its other offerings. The laboratory has established an internal corporate goal of billing a minimum of 25,000 MaterniT21 tests this year, while increasing the sales force head count for the diagnostics business to more than 50 active field sales representatives. In addition, study results determining the accuracy of the MaterniT21 LDT in detecting two additional fetal abnormalities, Trisomy 13 and Trisomy 18, are scheduled to be published in a peer-reviewed journal during the first quarter of this year.
For more Benzinga, visit Benzinga Professional Service, Value Investor, and Stocks Under $5.
