Sequenom shares jump after new DS test data announced
Wednesday, September 24th, 2008From Associated Press, CNN, company press release, Fox News:
Shares of Sequenom Inc., a San Diego biotech company, rose sharply in premarket trading today after the company announced new results on a prenatal test for Down syndrome that relies on a sample of the mother’s blood.
The company announced yesterday that its SEQureDx test detected Down syndrome accurately in the first and second trimester of pregnancy in about 200 tests with no false positives or false negatives, matching earlier data from another 200 samples. The company said it hopes to bring the test to market next summer.
Shares jumped $3.39, or 16.5 percent, to $23.95 from $20.56 during premarket training.
Presently available noninvasive prenatal screening methods for Down syndrome can only tell women the statistical risk that their fetus has Down syndrome, but do not offer a conclusive diagnosis of individual pregnancies. Presently, women must undergo amniocentesis or chorionic villus sampling in order to know for sure whether the baby they are carrying has Down syndrome. Amnio and CVS are invasive techniques that both carry a small but significant risk of miscarriage.
Analysts hailed Sequenom’s announcement, with Lazard Capital Markets analyst Sean Lavin raising his price target to $44 per share, up from $34. The company’s stock was trading at around $5 before the announcement of the new technology earlier this year.
The market for prenatal testing is estimated to have multi-billion dollar potential.
See earlier posts here.
See the company’s share price here.



