Sequenom, Inc. ( SQNM) Barclays Capital 2012 Global Healthcare Conference Call March 14, 2012 4:15 pm ET Executives Ronald M. Lindsay – Executive Vice President, Research & Development Analysts C. Anthony Butler – Barclays Capital Presentation C. Anthony Butler – Barclays Capital
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Perhaps prior to that was the risk that some of you do believe I’m go to go slightly off attack for the (struggling) perhaps, so my colleagues and the audience and simply state maybe the take-home message from where Sequenom is today. And that is, we’re no longer arrester company. We’re no longer a turnaround story. We’re no longer a company that’s plotting along doing research to see we can get on track, our most valuable asset that’s our crises of retention.We’ve done all those things. We’re also no longer a company that’s trying to develop a CLIA lab and commercialized test. We’ve done that already. We’ve laid a lot of track for where we are going to go. So I would like to convince everybody here and who’s listening that we’re now a growth story. So I think, as a management team, we are very pleased with the success we’ve achieved over the last two years. We’ve laid a very firm foundation in building out our capacity in all aspects of the diagnostic business and putting regulatory signs, reimbursement. We have all these things in place. So, yes, there are issues around IP, [yester] issuers around competition. Yester remains small issues about the FDA. But we are confident that all of these things can be overcome and we’re going to emerge as a major player in this field. So that’s the take-home message. I knew we should have said the Safe Harbor statement first, but just to remind you all, this is available on our website as a standard thing and we indeed will make forward-looking statements, some of which I perhaps have made already. Our company has two segments; our traditional genetic analysis business, our research instrumentation reagent business and our growing molecular diagnostic business. In total last year, we were very pleased that compared to some of our competitors we had a significant overall growth in our revenue. We are up 18% year-over-year to $55.9 million.
Our genetic analysis business, which competes in the tools space with many – much severe competitors, we were very pleased in a very tough year with headwinds, saw a 6% said growth whereas some of our competitors indeed because of cutbacks in academic funding NIH, et cetera, saw a significant loss in their business. So we’re very pleased with that.We have in our two CLIA labs, which come under the rubric of our wholly-owned subsidiary, the Sequenom Center for Molecular Medicine where our LDT tests are performed. We have a site in San Diego and a site in Grand Rapids, Michigan. San Diego does all of our testing involved sequencing today. That’s our T21 test. Grand Rapids currently runs all of our tests that run on our MassARRAY system. We’ll come to those in a moment. We are very pleased that in total we performed 21,000 diagnostic tests for [gout] last year, including shortly after launch about 1,000 MaterniT21 LDTs were received and processed during the last couple of months of the year. Continuing that expectation of growth, in push through months of this year in total, we performed 7,500 tests of which 2,500 are newly launched MaterniT21 test and these have already been processed from result ship back. So we see continuation of that growth pretty readily already. In terms of our total menu of testing, our goal primarily has been the pre-natal space. Our flagship test, at least at the moment, in terms of volume and revenue is our cystic fibrosis carrier screening test. [Listen if your like] has been the test bed for our CLIA lab, for our reimbursement and for our sales force to get there deep into this arena, we’re very pleased that we saw growth to about 20,000 tests last year. Read the rest of this transcript for free on seekingalpha.com