CombiMatrix Reports Preliminary Annual Growth in Prenatal Testing Volumes of 172% and 171% for Fourth Quarter and Year, Respect
07 Enero 2013 - 5:00AM
CombiMatrix Corporation (Nasdaq:CBMX), a molecular diagnostics
company performing DNA-based testing services for developmental
disorders and cancer diagnostics, today announced that it expects
to report record volumes of prenatal testing in the fourth quarter
and year ended December 31, 2012. Preliminary annual growth rates
of 172 percent and 171 percent were achieved for billable prenatal
tests in the quarter and full year, respectively. The rapid growth
rate in prenatal testing, which includes both prenatal and
miscarriage testing, is the result of the Company's strategic shift
to focus on its prenatal molecular diagnostics testing markets,
where the Company believes that chromosomal microarray analysis
(CMA) is becoming the standard of care. CombiMatrix is the only
publicly-traded company that specializes in CMA.
R. Judd Jessup, President and CEO of CombiMatrix said, "Our
refocused commercial strategy began to kick in during the latter
half of 2012 and especially in the fourth quarter. We believe
our focus on CMA in the prenatal and pediatric segments is allowing
us to gain traction and marketshare as the technology landscape and
standard of care changes. In addition, recent key clinical
publications bolstering that paradigm shift should continue to add
momentum in those markets as 2013 progresses."
Late in 2012, a pair of studies published in the New England
Journal of Medicine, favored CMA over traditional karyotyping for
genetic prenatal diagnosis and genetic evaluation of stillbirths.
The two large studies, published in the December edition of the
Journal, represented the largest head-to-head studies comparing CMA
to traditional karyotyping. Both concluded that CMA identified
additional, clinically significant genetic abnormalities compared
to karyotyping in both the prenatal diagnostic setting as well as
the evaluation of stillbirths.
Jessup continued, "CMA gives parents, physicians and educators
better tools for anticipatory care by proactively addressing the
impacts of many chromosomal disorders. In the case of stillbirths
or miscarriages, CMA can be used to determine if there is a genetic
reason for these occurrences, especially when it happens more than
once, and can give parents valuable information about future
pregnancies."
Overall billable testing volumes at the Company, including its
de-emphasized oncology segment, was also up strongly in the period,
growing 21 percent and 25 percent in the quarter and full year,
respectively, over 2011. CombiMatrix expects to report its
operating results in late February, 2013 and file its annual report
for 2012 on Form 10-K in mid-March, 2013. The Company will issue a
press release and hold an investor conference call to discuss
results.
About CombiMatrix Corporation
CombiMatrix Corporation, through its wholly owned subsidiary,
CombiMatrix Molecular Diagnostics, Inc. (CMDX), is a molecular
diagnostics laboratory which offers DNA-based testing services to
the prenatal, pediatric and oncology markets. The Company performs
genetic testing utilizing Microarray, FISH, PCR and G-Band
Chromosome Analysis. CMDX offers prenatal and pediatric testing
services for the detection of abnormalities of genes at the DNA
level beyond what can be identified through traditional
technologies. CMDX was also the first commercial clinical
laboratory in the United States to make comprehensive DNA-based
genomic analysis of solid tumors, including breast, colon, lung,
prostate and brain tumors, available to oncology patients and
medical professionals. Additional information about CMDX is
available at www.cmdiagnostics.com or by calling
1-800-710-0624.
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These statements are
based upon our current expectations, speak only as of the date
hereof and are subject to change. All statements, other than
statements of historical fact included in this press release, are
forward-looking statements. Forward-looking statements can often be
identified by words such as "anticipates," "expects," "intends,"
"plans," "goal," "predicts," "believes," "seeks," "estimates,"
"may," "will," "should," "would," "could," "potential," "continue,"
"ongoing," "objective," similar expressions, and variations or
negatives of these words and include, but are not limited to,
statements regarding the advantages and efficacy of CMA over
standard karyotyping, the market momentum for CMA, the impact of
our CMA focus on market share, and our preliminary report of
prenatal testing volumes. These forward-looking statements are not
guarantees of future results and are subject to risks,
uncertainties and assumptions that could cause our actual results
to differ materially and adversely from those expressed in any
forward-looking statement. The risks and uncertainties referred to
above include, but are not limited to: the risk that our final
reported prenatal testing volumes are different from this
preliminary report; market acceptance of CMA as a preferred method
over karyotyping; the rate of transition to CMA from karyotyping;
our ability to successfully expand the base of our customers and
strategic partners, add to the menu of our diagnostic tests in both
of our primary markets, develop and introduce new tests and related
reports, optimize the reimbursements received for our testing
services, and increase operating margins by improving overall
productivity and expanding sales volumes; our ability to
successfully accelerate sales, allow access to samples earlier in
the testing continuum, steadily increase the size of our customer
rosters in both developmental medicine and oncology; our ability to
attract and retain a qualified sales force; rapid technological
change in our markets; changes in demand for our future products;
legislative, regulatory and competitive developments; general
economic conditions; and various other factors. Further information
on potential factors that could affect our financial results is
included in our Annual Report on Form 10-K, Quarterly Reports of
Form 10-Q, and in other filings with the Securities and Exchange
Commission. We undertake no obligation to revise or update publicly
any forward-looking statements for any reason, except as required
by law.
CONTACT: Company Contact:
R. Judd Jessup
President & CEO, CombiMatrix Corporation
Tel (949) 753-0624
Media Contact:
Len Hall
VP, Media Relations
Allen & Caron
Tel (949) 474-4300
len@allencaron.com
Investor Relations Contact:
John Baldissera
BPC Financial Marketing
Tel (800) 368-1217
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