Sequenom Maintains Tight Lid on "Mishandled Data" of Key Diagnostic Test
Summary
The company’s recent quarterly filing with the SEC suggests Sequenom (NASDAQ: SQNM) must start the process of validating its test from scratch.It states: “We are no longer relying on our previously announced research and development (R&D) test data and results.” During the company’s quarterly earnings call last week, executives shed no light on what went wrong.Sequenom CEO Harry Stylli told analysts and investors that the company hopes to launch the test in 2010, according to a transcript on Seeking Alpha.Sequenom announced on April 29 that it was delaying introduction of SEQureDx, its much-anticipated genetic test for Down syndrome, because a management review uncovered inconsistencies in the data.San Diegans with long memories will remember Rose as the federal prosecutor who convicted J. David Dominelli of masterminding an $80 million Ponzi scheme in the 1980s.