Archive for the ‘Nanogen Inc. NGEN’ Category

Nanogen, Inc. (NGEN) Revenues Up, Costs Down

Monday, November 17th, 2008

Nanogen, Inc., global developer of molecular diagnostic test kits, announced remarkable revenue and cost figures for the third quarter of 2008. Not only did revenues increase by a whopping 64% to $13.8 million compared to the same quarter in 2007, the company also managed to slash sales costs by 31%. The combination has accelerated the company’s move to profitability, especially in light of the recently announced plans to merge next year with French diagnostics company Elitech.

Nanogen Chairman and CEO, Howard C. Birndorf, summarized the importance of the results. “Our third quarter results continue to show the excellent progress we are making as a result of our business restructuring. Compared to one year ago, we experienced a substantial reduction in spending while continuing our strong revenue growth. This continuing improvement in business operations, combined with the planned merger with Elitech in early 2009, will complete the transformation of Nanogen into a profitable, global in-vitro diagnostics company.”

The results firmed up company financial guidance for 2008. Anticipated revenue growth, together with operating expense reductions and improved gross margins, should allow the company to continue to improve quarterly operating cash flow through the end of 2008, as measured by modified EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization).

Nanogen, based in San Diego, pioneered the development of biomarkers, molecular biology technologies and nanotechnology, for diagnostic and healthcare applications. The company develops diagnostic products that provide faster and easier diagnosis, treatment, and monitoring of cardiovascular and infectious diseases, including molecular diagnostic kits and reagents, and rapid test kits that can be used in urgent care settings or at the point-of-care.

In August, Nanogen announced plans to merge with The Elitech Group, a private French diagnostics company. The merger is expected to generate first year revenues of $150 million, and positive EBITDA.

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Dutton Associates Featured Company: Nanogen, Inc. (NGEN)

Monday, July 21st, 2008

Nanogen, Inc. (NASDAQ: NGEN) is a diagnostics company engaging in the development, manufacturing, and selling of medical products for use in the in vitro diagnostics market in the United States, Canada, and Europe. The company’s advanced technologies provide researchers, clinicians and physicians worldwide with improved methods and tools to predict, diagnose, and ultimately help treat disease. Since their inception into the diagnostics market, they have established themselves as a leader in nanotechnology which possesses the promise of miniaturization as they continue to be supported for their potential for diagnostic and bio-defense applications.

The company’s products help physicians to deliver enhanced patient care, allowing for faster and easier diagnoses and treatment and monitoring of cardiovascular and infectious disease. Their solutions are sent to clinical labs for research, allowing them to offer quality and cost-effective reagents and instruments for diagnostic and screening tests. Nanogen has continued to seek and develop innovative products that will revolutionize the bio-medical and healthcare markets. Their products span a wide range of applications for customers including: probes and primers for the molecular biology researcher, instrumentation for the clinical laboratory, reagents for multiplexed molecular targets, and rapid diagnostic tests.

The NanoChip® is the company’s second-generation automated multiplexing platform, which uses advanced microarray technology for performing pathogen sequence detection and genotyping applications. At the core of the NanoChip® is the NanoChip cartridge that provides multi-sampling and multi-targeted reporting capabilities. As the NanoChip arrays are built by users rather than containing pre-determined content, the system provides a simple, fast and cost effective means for performing molecular testing.

The company has also developed a proprietary MGB moiety that provides optimal performance for DNA probe-target hybridization reactions. The product is applied to the end of a DNA probe during synthesis on a commercial synthesizer, allowing the MGM moiety to fold back into the mirror groove formed by the DNA duplex to stabilize hybridization. This results in an increase in melting temperature, and the MGB moiety produces a “TM leveling” effect as A-T content increases. Since there is a rise in melting temperature due to the MGB moiety, physicians can utilize a shorter probe with improved mismatch discrimination.

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