Sequenom Spikes on Rumors Print E-mail
By Staff and Wire Reports   
Wednesday, 07 October 2009 15:42

Shares of Sequenom, Inc. (NASDAQ:SQNM) spiked up early in Wednesday's trading session and closed up at $3.28 +0.33 (11.19%) after rumors that Sequenom might put itself up for sale.

Last week, Sequenom announced that they fired the CEO and the head of R&D many months after the company had revealed that the results for their Down syndrome had been mishandled.

Sequenom also said Nasdaq and the Office of the U.S. Attorney for the Southern District of California made contact with the Company following its announcements on September 28. The Company has met with representatives of the U.S. attorney and Federal Bureau of Investigation and they said it will cooperate fully with the stock exchange and U.S. attorney.

In April employees mishandled data on its SEQureDx Down syndrome blood test. After a five-month review, Sequenom fired key officers and accepted resignations from three lower-ranking employees. The firings followed an investigation by a special committee of the Company's Board of Directors.

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