Sequenom Announces Results of Screening Studies for SEQureDx Technology - Update
6/4/2008 8:45 AM ET
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(RTTNews) - Wednesday morning, Sequenom, Inc. (SQNM: News, Chart, Quote ), a provider of genetic-analysis solutions, announced positive results from screening studies, using the noninvasive circulating cell-free fetal or ccff nucleic acid SEQureDx Technology.
The company said current standards require invasion of the uterus to sample the amniotic fluid surrounding the baby to detect fetal aneuploidy including Down syndrome. SEQureDx Technology extracts Fetal Nucleic Acid material from a blood specimen collected from the mother to determine the genetic status of the fetus.
Sequenom said, in blinded studies involving about 200 clinical samples, its proprietary test for Down syndrome correctly identified 100% of all Down syndrome samples without any false-positive outcomes. Down syndrome is a chromosomal abnormality characterized by the presence of an extra copy of genetic material on the 21st chromosome.
The company expects to continue its development activities through the end of 2008, and will transfer the technology to laboratory partners. The company plans to initiate a multi-site validation study of several thousand samples in the fourth quarter this year and launch its Down syndrome test as a Laboratory Developed Test in the U.S. in the first half 2009.
SQNM closed Tuesday's regular trading session at $7.66.
Sequenom rallies in premarket on positive Down syndrome test results
NEW YORK (Thomson Financial) - Share of Sequenom Inc. rallied in premarket trading Wednesday after the company announced positive results of screening studies for Down syndrome using the company's SEQureDX technology.
In studies involving 200 samples, the company's test for Down syndrome correctly identified 100% of all Down syndrome samples without any false-positive outcomes.
San Diego-based company said current serum-testing options have detection rates of 70% to 90%, with false-positive rates of as high as 5%.
The stock ran up 14% to $8.75 ahead of the open, a level not seen during regular trading hours since Feb. 14. (SO exciting, isnt it, playing God?!)
The company's technology enables the detection of Down syndrome from maternal blood, using noninvasive circulating cell-free fetal nucleic acid. Tomi Kilgore tk1