Sequenom released results for the quarter and year ended December 31st, 2013 on February 27th, 2014. The results were largely expected as revenues and cash burn had been preannounced. The 2013 10k and earnings conference call provided some clarity into the questions of primary importance to investors:
- Why is unit growth slowing for MaterniT21 and what does that say about the size of the market opportunity?
- How likely is achievement of the company goal to attain positive cash flow by the end of 2014?
- Will the company need to source new capital this year?
Sequenom reported net cash usage of $13.5m in December 2013. This represented a 39% and 70% improvement over the September and June 2013 quarters, respectively. Some context to this cash flow improvement included:
· The reimbursement climate for molecular diagnostics