Sequenom climbs on EU patent for testing
NEW YORK (AP) -- Shares of Sequenom rose Thursday after the genetic analysis company said it received a patent in the European Union.
Sequenom said the patent was awarded Jan. 1, and it covers new methods for detecting chromosomal disorders in fetuses using genomic sequencing. The patent applies in all countries in the European Union, as well as Liechtenstein, Monaco, Norway and Switzerland.
Sequenom Inc.'s MaterniT21 is a blood test intended for women who are at high risk of carrying a fetus with Down syndrome. Sequenom says it can detect the chromosomal anomaly that causes Down syndrome as early as 10 weeks into pregnancy. The San Diego does most of its business in the U.S.
Sequenom shares gained 17 cents, or 6.9 percent, to $2.63 in midday trading. The stock has lost almost half its value since July, when the company said it was having trouble collecting revenue for its tests because of changes made by Medicare and health insurers.