Does Sequenom Inc (NASDAQ:SQNM) has alternatives?
Sequenom, Inc (NASDAQ:SQNM) announced that its Directors has given the go-ahead for the review of some potential strategic alternatives for the company’s genetic analysis business. Jeffries LLC will be the financial advisor who will assist in evaluating the alternatives. Sequenom, Inc (NASDAQ:SQNM) has not yet made any specific decision to get into any kind of transaction at this point of time. Another point is that Sequenom, Inc (NASDAQ:SQNM) has not guaranteed that it will enter any similar transaction in the future either. The company chooses not to disclose any details about the strategic alternatives to its review processes right now.
In Tuesday’s trading session, Sequenom, Inc (NASDAQ:SQNM) stock dropped 2.57%. The shares opened at a price of $2.82 which rose to an intraday high of $2.85 and dipped to a close of $2.69. Approximately 4.78 million shares were traded on Tuesday and an average volume of 2.24 million shares were traded over 30 days. The 52-week low of the shares is $2.58 and the 52-week high is $5.36. The company has a market cap of $310.33 billion.
Sequenom, Inc (NASDAQ:SQNM) is a molecular diagnostic-testing and genetics-analysis company. It is committed to providing molecular diagnostic-testing services, and research-use-only services, products, genetic analysis, applications and products that turn results of genomic-science into solutions used in biomedical research, translational-research, molecular-medicine applications, and livestock, agricultural, and various areas of research.
Its efforts in development and commercialization in different diagnostic areas include prenatal-diagnostics, non-invasive women’s health, ophthalmology, and medical conditions like infectious diseases, oncology and autoimmunity. Sequenom, Inc (NASDAQ:SQNM) operates in 2 segments: Molecular Diagnostics and Genetic Analysis. Sequenom, Inc (NASDAQ:SQNM) is in competition with Verinata Health, Ikonysis, Aria Diagnostics, Celula, Fluidigm Corp., Beckman Coulter, Natera, Life Technologies, Illumina Inc., Biotage AB, Fluidigm, Ibis Biosciences, KBiosystems and Luminex.