Complete Genomics Well Positioned To Move From Research To Clinical In Genome Sequencing

Rod Raynovich submits:The IPO market is setting up for continued investor interest in the biotech sector.

By Medhanie:We knew the likelihood of Complete Genomics (GNOM) remaining an independent company was low. Given its low trading price, difficulty in gaining access to capital and its pending lawsuit with Illumina (ILMN), a sale almost seems inevitable.

By Tim Gallagher:A trailblazing pioneer, Affymetrix (AFFY) got off largely under-the-radar in 1992, and came public with its IPO in June 1996.

The Burrill Report submits: By Marie DaghlianDNA sequencing firm Complete Genomics (GNOM) went public after scaling back its deal price more than 30 percent to get it done. Shares began trading on the Nasdaq Global Market on Thursday under the symbol GNOM. The stock closed at $8.03, down more than 10 percent on the first day of trading with volume of nearly 2.5 million shares.

By pretty much any measure, biotechnology company Illumina's growth has been spectacular. When Jay Flatley joined as CEO in 1999, the San Diego-based business had 25 people. It now employs more than 3000. The stock price has tripled since its IPO in 2001 to reach new highs this year, and sales hit $1.2 billion in 2012. 

The fish known as a living fossil for its close resemblance to ancient predecessors had its genome sequenced by scientists who say it offers clues to how animal ancestors crawled out of the sea. African coelacanth, discovered alive in 1938 after having been presumed extinct for 70 million years, was found to have genes that reveal how land animals’ hands, feet, immune systems and other body features may have evolved, according to a report in the journal Nature.

Prohost Biotech submits:In June 2009, Illumina (ILMN) announced the launch of its individual genome sequencing service. The service is built around physician-patient consultation, with a physician’s order required to initiate the process.