by The Editors on March 13, 2008
Carlsbad’s leading pharmaceutical company Isis announced today that they only lost $7 million dollars this quarter compared to a lost of $14.1 million in 2007.
Isis’ full-year loss after preferred dividends widened to $136.3 million, or $1.63 per share compared with a loss of $45.9 million, or 62 cents per share, in the previous year. The company said $1.50 of the 2007 per-share loss was attributable to the $120 million purchase of Symphony GenIsis.
There are millions in this business somewhere.
[Link: Forbes.com]
by The Editors on March 2, 2008
Our favorite life sciences company Invitrogen has announced that it showed a $41.1 million profit for the fourth quarter of 2007. That’s “compared with a loss of $100.2 million, or $2.03 a share, in the same quarter 2006.” Congratulations! Some of Carlsbad’s golf companies should take note.
Revenue rose 12 percent to $336.4 million. Analysts had expected $327 million. . . . Shares of Invitrogen were up $2.87 in after-hours trading following the company’s announcement. The stock had closed at $83.43, down $1.57.
They also settled a lawsuit with one of their competitors.
[Link: San Diego Union-Tribune]
by The Editors on February 12, 2008
Our favorite Carlsbadistan biotech firm Invitrogen got a visit from the Governator yesterday as he rolled through Galeeforneea in support of the State’s biotech industry, according to a story in the North County Times.
Schwarzenegger pointed to Invitrogen and other biotech companies as a source of strength in California’s economy, and said he favored further investment in biotech. With California’s economy showing weakness, the governor said, industries like biotech deserve government support.
“The action is where you are. This is where the jobs are being created,” Schwarzenegger said.
Wonder if he visited any of his favorite Indian casinos while he was here?
[Link: North County Times and San Diego Union-Tribune]
by The Editors on January 10, 2008
Our favorite Carlsbad life sciences firm, Invitrogen, has done some shopping. They recently bought CellzDirect, a company that “focuses on hepatocytes that are widely used to predict a compound’s effect on liver metabolism” for $57 million in cash.
“CellzDirect’s high-value products and services will greatly complement Invitrogen’s market-leading portfolio of complete cell systems, including primary cells, media, matrices and growth factors,” said Greg Lucier, Invitrogen’s chairman and chief executive officer, in a statement. “The purchase of CellzDirect follows our strategy of investing in high growth areas of the market, specifically specialty cell systems.”
We’re don’t even know enough to comment on it, but Lucier makes it sound great.
[Link: Local Tech Wire]
by The Editors on January 8, 2008
Carlsbad-based Luminous Medical has developed a new glucose measurement system for hospital patients that the medical equipment world is raving about.
Luminous has now developed what it claims to be the first-of-its-kind automated glucose measurement system that continually takes blood samples from a patient’s IV system, analyses the blood using near-infrared spectroscopy, then sends the blood back to the patient. . . . The net result is a system that accurately and precisely reports patient glucose readings without the need for frequent calibration and allows for automated, frequent measurements.
While we’re guessing few people understand any of this, it is just one more reminder of how Carlsbad-based high-tech businesses are making the world a better place.
[Link: The Engineer]
by The Editors on December 19, 2007
Okay, we don’t know that he sold them because it was Christmas, but David F. Hoffmeister, the CFO of Invitrogen sold 27,909 shares of his company this week at around $95 each, “in a Form 4 filed with the SECIn a Form 4 filed with the SEC. That’s means he freed about $2.6 million. Happy Holidays.
[Link: Motley Fool]
by The Editors on November 5, 2007
Gregory T. Lucier, the CEO our favorite Carlsbad-based life sciences company Invitrogen exercised options on 196,250 shares of his company’s stock today. He bought them for $38.01 a share and then sold them all in under a prearranged 10b5-1 trading plan for between $86.64 and $89.33. If we did our math correctly (and we’d be the last to assume that was the case) then Mr. Lucier brought home more than $9 million in this transaction. Not bad for four years work at the company (not counting his salary). Who says you have to move to LA or NYC to make the big bucks?
[Link: Forbes]
by The Editors on November 2, 2007
The Securities and Exchange Commission has “filed insider trading charges” against former Invitrogen scientist Harry H. Yim, 45, of Vista, California. Yim is being accused of trading . . .
. . . in Invitrogen stock immediately upon learning of non-public information about the company’s poor financial results. The complaint further alleges that, as a result of his improper stock sales, Yim avoided losses of approximately $79,581 that he otherwise would have incurred from the decline in the company’s stock price.
Of course, we’d like to think that he just didn’t know the rules. Either way, that $79k he saved probably doesn’t look so good right now.
[Link: Trading Markets.com]
by The Editors on October 6, 2007
For the past 45 years R&D Magazine has released its annual R&D 100 Awards, which “recognizes the best in innovation—on a global scale.” This year, Carlsbad-based Invitrogen won an award in the Life Sciences (.PDF link) for their Qubit Quantitation Platform.
The Qubit Quantitation Platform provides a new level of accuracy, speed, and sensitivity for the detection of these biologically important molecules. It provides an order of magnitude improvement in quantitation over conventional technologies, leading to fewer experiment failures, more efficient research programs, and more streamlined product development.
So the next time we’re doing some serious DNA, RNA, or protein counting we’ll know who to turn to: our friends at Invitrogen.
[Link: R&D Magazine via The Motley Fool]
by The Editors on October 4, 2007
Our favorite Carlsbad-based “biopharmaceutical company” ISIS announced today that the test results from their new ISIS 301012, a drug designed to lower bad cholesterol in patients who suffer from “hypercholesterolemia or HeFH,” suggest that it provided “meaningful reductions in Lp(a).” And apparently, this is a good thing
According to Evan Stein, a principal investigator for the studies, the performance of ISIS 301012 continues to be extremely encouraging . . . ISIS 301012 reduces the production of apoB-100, a protein critical to the synthesis and transport of “bad” cholesterol and a target that has proved to be undruggable using traditional, small-molecule approaches.
The stock today, however, was trading down.
[Link: ISIS Pharm via RTTnews]
Carlsbad’s leading pharmaceutical company Isis announced today that they only lost $7 million dollars this quarter compared to a lost of $14.1 million in 2007.
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