Shares of Sequenom, Inc. (NASDAQ:SQNM) ended Friday session in red amid volatile trading. The shares closed down -0.06 points or -5.04% at $1.13 with 12.42 million shares getting traded. Post opening the session at $1.10, the shares hit an intraday low of $1.10 and an intraday high of $1.15 and the price vacillated in this range throughout the day. The company has a market cap of $127.92 million and the numbers of outstanding shares have been calculated to be 119.22 million shares.
Sequenom, Inc. (SQNM) on May 4, 2016 reported total revenues of $27.6 million, total accessioned units of 46,400, and a net loss of $13.4 million, or $0.11 per basic and diluted share, for the first quarter of 2016.
First Quarter 2016 Results
First quarter 2016 revenues of $27.6 million declined 27% from $37.8 million in the first quarter of 2015. Revenues and unit volumes in the first quarter of 2016 were lower than the first quarter of 2015, primarily reflecting the conversion of certain laboratory customers to licensee status under the Pooled Patents Agreement, and a smaller amount available to collect during the first quarter of 2016 for testing services performed in prior periods. This latter factor reflects the improvement in the timeliness of Sequenom Laboratories collections as a result of additional payor contracts. These changes resulted in approximately $10 million in net revenue reduction for the first quarter of 2016 compared to the first quarter of 2015.
Total patient samples accessioned decreased by 12% to 46,400 patient samples during the first quarter of 2016, compared to the prior year’s first quarter. Approximately 41,200 of those patient samples accessioned were for NIPT, including the MaterniT® 21 PLUS, VisibiliT™ and MaterniT® GENOME laboratory-developed tests, which is a 9% decrease in testing volume compared to the first quarter of 2015. The decrease in tests accessioned was driven by the conversions of laboratory customers to licensee status, as described above, partially offset by the increase in tests accessioned for patients in the average-risk pregnancy market.
The total volume of tests from Sequenom’s core business increased by 7% over the first quarter of 2015, largely as a result of Sequenom Laboratories’ entry into the average-risk pregnancy market. In this press release, “core business” refers to Sequenom’s revenue and unit volume excluding the effect of the conversion of certain laboratory customers to licensee status in 2015. Notably, the volume of NIPT tests in Sequenom’s core business, which includes average-risk pregnancies, increased by 14% for the first quarter of 2016 over the first quarter of 2015.
Shares of Baxter International Inc (NYSE:BAX) ended Friday session in red amid volatile trading. The shares closed down -2.11 points or -4.59% at $43.85 with 11.20 million shares getting traded. Post opening the session at $44.84, the shares hit an intraday low of $43.72 and an intraday high of $44.84 and the price vacillated in this range throughout the day. The company has a market cap of $23.10 billion and the numbers of outstanding shares have been calculated to be 550.17 million shares.
Baxter International Inc (BAX) on June 23, 2016 launched AMIA Automated Peritoneal Dialysis (APD) system with SHARESOURCE, a cloud-based, two-way remote connectivity platform that enables remote patient management in the United States, and the HOMECHOICE CLARIA APD system with SHARESOURCE in Europe. SHARESOURCE is designed to provide more timely therapy decisions by enabling healthcare professionals to deliver individualized dialysis care and allowing on-demand access to treatment data while the patient is at home.
The study, ”Remote Monitoring of Chronic Diseases: A Landscape Assessment of Policies in Four European Countries”1 observed a growing number of funding approaches and policies supporting remote monitoring for chronic diseases, such as chronic heart failure, chronic obstructive pulmonary disease and diabetes. The study also reports a survey of healthcare payers and policy makers in these countries indicating the value of remote monitoring is perceived to be moderate to high in these chronic diseases, as well as ESRD.
Remote monitoring and telehealth can be defined as the electronic exchange or transfer of a patient’s medical information allowing a healthcare professional to review and make medical or clinical decisions. This information may include cardiovascular and metabolic data such as blood pressure, blood glucose, body temperature and weight. For patients on home dialysis, additional information related to individual treatment results, data history and device settings can be transferred to the healthcare team, enabling earlier identification of problems.