here is a release that just came out...i guess as a follow up to the Orchid Bioscience (NASDAQ) and SMDX release yest. it's all here folks....maybe smdx is getting ready to make a push:
(COMTEX) B: GeneScreen Validation Boosts Orchid Shares
B: GeneScreen Validation Boosts Orchid Shares
New York, May 17, 2001 (123Jump via COMTEX) -- Orchid Biosciences Inc. (ORCH)
was the top percentage gainer in its sector Thursday morning. However, the
company's advance was outpaced by shares of SpectruMedix Corp. (SMDX), a
technical instrument maker.
GeneScreen, a business of Orchid Biosciences, announced yesterday that it had
purchased the SpectruMedix SCE 9610 Genetic Analysis system for use at both of
its U.S. facilities. The system will be used to further its paternity-testing
capabilities.
GeneScreen verified that the system met the requirements of the American
Association of Blood Banks (AABB) for paternity testing. SpectruMedix' system
also fulfilled performance guidelines for platforms currently employed in
forensic casework and offender profiling.
When compared with Applied Biosystems Group's (ABI) 310 and 377 analysis
platforms, the system was found to be 100% concordant.
The SpectruMedix Genetic Analysis system is designed to provide testing
laboratories with a robust, high-throughput, fully automated solution that can
also be set to perform in manual mode. In addition to gene sequencing, the SCE
9610 can also be used in DNA-fragment analysis and genotyping applications.
SpectruMedix is involved in the development and commercialization of measurement
instruments and software packages focused on medical and scientific
technologies.
The company's two principal products consist of high-speed and high-throughput
DNA-sequencing and genetic analysis instrumentation for the acquisition,
analysis and management of genetic information, and high-throughput screening,
parallel capillary electrophoresis systems for drug discovery.
Founded in 1987, GeneScreen has grown to become one of the largest providers of
paternity testing in the United States. The company has achieved steady growth
by gaining market share and investment in strategic acquisitions.
Orchid is a leading provider of technologies for single nucleotide polymorphism
(SNP) scoring and genetic diversity analyses. For the year ended December 31,
2000, revenue surged to $18.4 million from $1.8 million. Net loss grew 6% to
$77.4 million.
Market capitalization is $158.87 million. The company competes against Celera
Genomics Group (CRA), Millennium Pharmaceuticals Inc. (MLNM) and Variagenics
Inc. (VGNX).
While Orchid shares jumped 53 cents, or 11.11%, to 5.3; SpectruMedix shares
skyrocketed 55 cents, or 157.14%, to 90 cents.
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