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SEC to Investigate Sequenom

The Securities and Exchange Commission has initiated an investigation into employee data mishandling at Sequenom, according to a June 30 regulatory filing.

In April, the San Diego-based maker of prenatal tests revealed that it could no longer rely on data or results of a study testing its SEQureDx technology in unborn babies for Down syndrome. Sequenom began an internal investigation into the matter, which is ongoing, it said.

The company originally planned to launch SeQureDx in June, but has postponed its introduction, along with other prenatal tests for rhesus D, cystic fibrosis and gender, as it sorts everything out.

Sequenom has faced a slew of shareholder lawsuits since it first announced the employee mishandling April 29. Angry investors have filed at least 15 separate lawsuits in Southern California.

Sequenom said it intends to “cooperate fully” with the SEC in its investigation.

Shares of Sequenom, traded under the symbol SQNM on Nasdaq, were down about 4 percent in midday trading July 1 at $3.77. The company’s stock has plummeted about 74 percent since it announced the employee mishandling.

— Heather Chambers

» Link to this article


  February 8-14, 2010
SDBJ News
CONNECT Goes to Washington
Most high-tech entrepreneurs and innovators don’t have time to put on a tie and sit through a three-hour meeting about policy issues in Washington, D.C. They are too busy creating the next generation of digital mobile applications and lifesaving health care products, and creating jobs for the new innovation economy. There has not been a strong voice or presence in the nation’s capital to represent these innovators, who neither have the money nor bandwidth to lobby or educate representatives on their needs and interests — until now.
S.D. Companies Race to Build Gene Machines
Technology contenders in the race to decode a person’s entire genetic makeup for less than $1,000 have been making gains in recent months, signaling that the finish line isn’t far ahead.
Conference Focuses on Methods to Combat Cyber Attacks
The creative and destructive power of the Internet emerged as a major topic of the West 2010 military conference, sharing the stage with more time-honored topics such as ships and naval strategy.
Scripps Health Issues $220M in Revenue Bonds
Scripps Health, currently in the middle of a building spree intended to bring its aging health care facilities up to date while accommodating future population demands, sought help financing its projects through the public markets last week.
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