finance

Genetic Future

Category archives for finance

The end is nigh for 23andMe?

Over at Gene Expression, Razib suggests that trouble lies ahead for personal genomics company 23andMe. Although I’m generally a bit of a cheerleader for the Mountain View-based startup, I must admit the signs over the past year or so haven’t been good: two rounds of lay-offs, the departure of co-founder Linda Avey, and the apparent deployment…

This piece in Newsweek is a neat summary of the rise and fall of Icelandic genomics giant deCODE Genetics. Regular readers of Genetic Future will be aware that the company has been steadily bleeding capital ever since its launch over a decade ago, and recently declared formal bankruptcy. Since then the company has been bought…

Keith Robison has a perceptive piece riffing off the recent Illumina instrument launch, and ponders whether 2010 will be the year that array-based genomic technologies finally start to die off with the rise of sequencing. The market certainly seems to think so. Check out the immediate effect on stock prices for Illumina (ILMN) and array…

I was just sent this email by a deCODEme customer: As a valued subscriber to deCODEme, we wanted to write to you directly to let you know about some important developments in the company and how we believe these will underpin our ability to continue to keep you in the forefront of understanding what the…

Struggling Icelandic biotech deCODE Genetics has finally reached the point of formal insolvency. A press release today announces that the company has filed for chapter 11 bankruptcy in a US court: In a filing with the U.S. Bankruptcy Court for the District of Delaware late on Monday, deCODE listed total assets of $69.9 million and total…

In the second of three guest posts, lawyers Daniel Vorhaus and Lawrence Moore of the superb blog Genomics Law Report discuss the implications for personal genomics customers if their provider goes bankrupt. In part one of the series (posted yesterday), Vorhaus and Moore dissected the implications of the privacy policies of two personal genomics companies, TruGenetics…

In this series of three guest posts, lawyers Daniel Vorhaus and Lawrence Moore of the excellent Genomics Law Report provide insight into the intriguing question of what happens to customers’ genetic data in the event that a personal genomics company goes out of business. Part II and III of this series will be posted over…

The announcement of the Helicos genome sequence (which I’ve already discussed in detail) engendered a huge amount of media interest, sometimes for the wrong reasons.  Having the media attention directed elsewhere in the third-generation sequencing space was clearly an unwelcome experience for Helicos competitors Pacific Biosciences, who have responded with a press release announcing the…

A reader pointed me to this press release on the dire financial state of Icelandic biotech deCODE Genetics.  The slow financial train-wreck that is deCODE has been sliding off the rails for years (see stock price chart below), but things look set to reach their final resolution one way or another within the next few…