Gene Logic withdraws financial guidance
Maryland, USA-based Gene Logic says that revenue for its Genomics Division will be significantly lower than previously anticipated for both the second quarter and for the full year 2006. The lower-than-expected revenue will also adversely impact operating results for the division for the foreseeable future. As a result, the company is withdrawing its previously-issued financial guidance for 2006 and 2007.
Performance for Gene Logic's Drug Repositioning Division remains on track, and the Preclinical Division is expected to show substantial improvement over the prior quarter. Actual results will be reported in early August.
In addition, Gene Logic's senior vice president and general manager, Genomics, has resigned for personal reasons and to pursue other career opportunities. The company says it already has in place interim leadership for this unit.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze