SAN DIEGO, Jan. 11, 2016 /PRNewswire/ -- Sequenom, Inc.
(NASDAQ: SQNM), a life sciences company committed to enabling
healthier lives through the development of innovative products and
services, today announced preliminary results for 2015, commented
on its business progress during the fourth quarter of 2015, and
provided an update on the performance of its recently launched
MaterniT® GENOME laboratory-developed test.
Sequenom provided the following preliminary 2015 results
(unaudited):
- Sequenom's preliminary revenue for 2015 is approximately
$128 million.
- Over 42,000 total commercial diagnostic test samples were
accessioned during the fourth quarter of 2015, as compared to
approximately 41,000 in the third quarter of 2015
- Of the total, 37,300 noninvasive prenatal test (NIPT) samples
were accessioned in the fourth quarter of 2015, as compared to
35,500 in the third quarter of 2015
- Total cash, cash equivalents and marketable securities as of
December 31, 2015 were approximately
$76 million
- Cash burn was approximately $25
million for 2015 and $5
million for the fourth quarter of 2015
"Sequenom made considerable progress during the fourth quarter,"
said Dr. Dirk van den Boom,
President and CEO. "Our goal is to set a new standard for
NIPT by offering the most comprehensive noninvasive prenatal test
solutions for physicians and their patients. We are pleased
to report that total test accessions increased sequentially from
the third quarter, reflecting our increased focus on commercial and
operational execution. Throughout the fourth quarter, we also
established clinical collaborations with key opinion leaders at
four major academic centers for the development of our oncology
liquid biopsy assay."
The Company's emphasis on women's health includes expanding its
presence in the obstetrician and gynecologist channel to better
serve average risk pregnancies, while continuing to maintain its
leadership among maternal fetal medicine specialists.
Sequenom Laboratories continues to advance its in-network
relationships with insurers and payor networks, and leveraging the
potential of Sequenom Laboratories' newly launched MaterniT GENOME
test.
MaterniT GENOME Progress
"Acceptance of and demand
for our new MaterniT GENOME test, launched at the end of
August 2015, has been stronger than we originally expected,
both domestically and internationally," remarked Dr. van den Boom. "While we are encouraged by
the positive reception for MaterniT GENOME test by physicians and
their patients, we are carefully positioning the test with
clinicians to ensure that it is used where it can provide the
highest value." Over 3,000 MaterniT GENOME tests were
accessioned in the fourth quarter of 2015, representing the test's
first full quarter of sales.
2015 Results
Sequenom will provide its complete
results for the fourth quarter and full year 2015 in a conference
call scheduled for March 2,
2016. The Company also plans to provide guidance for 2016 at
that time. The Company will issue a press release with details for
that announcement and conference call at a later time.
This press release contains certain unaudited financial results
for the Company's fiscal year and fourth quarter ended December 31, 2015. These unaudited results may
change as a result of further review by the Company's management
and its independent auditors. The completion of the audit of our
financial results for 2015 could result in changes to the unaudited
financial results presented in this press release and may identify
issues related to the effectiveness of the Company's internal
controls over financial reporting.
Non-GAAP Financial Measures
"GAAP" refers to
financial information presented in accordance with generally
accepted accounting principles in the
United States. This press release includes a non-GAAP
financial measure with respect to the year ended December 31, 2015. Management uses non-GAAP
financial measures because it believes that a cash flow metric
incorporating cash used by operations and certain other uses of
cash are important to understand the cash requirements of the
business. The Company reported cash burn as a non-GAAP financial
measure. This non-GAAP financial measure is not in accordance with
or an alternative to GAAP.
Management uses cash burn to evaluate performance compared to
forecasts. Cash burn is calculated as the sum of net cash used by
operating activities, purchases of property, equipment and
leasehold improvements, payments on long-term obligations, and
payment of convertible note transaction costs.
About Sequenom
Sequenom, Inc. (NASDAQ:
SQNM) is committed to enabling healthier lives through the
development of innovative products and services. The Company
serves patients and physicians by providing early patient
management information. To learn how Sequenom is interpreting
the genome to improve your life, visit www.sequenom.com.
About Sequenom Laboratories
Sequenom Laboratories, a
CAP-accredited and CLIA-certified molecular diagnostics laboratory,
has developed a broad range of laboratory tests, with a focus
principally on prenatal care. Branded under the names
HerediT®, HerediT® UNIVERSAL,
MaterniT® GENOME, MaterniT21® PLUS,
NextView®, SensiGene® and
VisibiliT™, these molecular genetic laboratory-developed
tests provide early patient management information for
obstetricians, geneticists, and maternal fetal medicine
specialists. Sequenom Laboratories is changing the landscape in
genetic diagnostics using proprietary cutting edge technologies.
Visit www.laboratories.sequenom.com and follow @SequenomLabs.
SEQUENOM®, HerediT®,
MaterniT® GENOME, MaterniT21® PLUS,
NextView®, SensiGene®, VisibiliT™
and Sequenom Laboratories™ are trademarks of Sequenom,
Inc. All other trademarks and service marks are the property
of their respective owners.
Forward-Looking Statements
Statements contained in
this press release regarding matters that are not historical facts
are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 including statements
regarding the development of innovative products and services,
expanding the Company's presence in the obstetrician and
gynecologist channel to better serve average risk pregnancies,
continuing to maintain leadership among maternal fetal medicine
specialists, continuing to advance the Company's in-network
relationships with insurers and payor networks and leveraging the
potential of Sequenom's newly launched MaterniT® Genome
laboratory-developed test. Because such statements are subject to
risks and uncertainties, actual results may differ materially from
those expressed or implied by such forward-looking
statements. Risks are described more fully in the Company's
filings with the Securities and Exchange Commission, including
without limitation the Company's most recent Quarterly Report on
Form 10-Q and other documents subsequently filed with or furnished
to the Securities and Exchange Commission. All
forward-looking statements contained in this press release speak
only as of the date on which they were made. The Company
undertakes no obligation to update such statements to reflect
events that occur or circumstances that exist after the date on
which they were made.
![SEQUENOM logo. SEQUENOM logo.](http://photos.prnewswire.com/prnvar/20040415/SQNMLOGO)
Logo - http://photos.prnewswire.com/prnh/20040415/SQNMLOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/sequenom-inc-announces-preliminary-2015-results-provides-update-on-maternit-genome-300202062.html
SOURCE Sequenom, Inc.