Jay Allen Sanford 7:31 p.m., March 3
Sequenom on Roller Coaster Again
Stock of San Diego biotech Sequenom is back on a roller coaster. Today (March 16) it is down 21.52% to $6.09 on disappointment with its fourth quarter losses. The company lost $18.4 million or 36 cents a share compared with a loss of $15.4 million or 25 cents a year earlier. On Sept. 24 of 2008 the stock zoomed more than 30% on expectations about its pre-natal test for Down syndrome. But the following year, there were questions about methodology, and the stock tanked. This year, the stock jumped 16.37% on Feb. 16 and 23.12% on March 2 on good expectations about a fetal test for sex determination. Maybe Sequenom should start working on a drug for stomach queasiness induced by rapid dips and rises.