Biotech Values

[apljack]

NGNM: Another competitor in this space has been acquired. Please see:

Miraca Holdings to Acquire Caris Life Sciences’ Anatomic Pathology Business

"Tokyo, Japan & Irving, Texas – October 6, 2011 – Miraca Holdings Inc. (“Miraca”), Japan’s largest clinical diagnostics and laboratory testing service provider, and Caris Life Sciences, Inc. (“CLS”), a privately-held company headquartered in Texas and specializing in the development and commercialization of the highest quality anatomic pathology, molecular profiling, and blood-based diagnostic technologies, today announced that the two companies have reached a definitive agreement under which Miraca will acquire the anatomic pathology business operated by Caris Diagnostics, Inc. (“CDx,” a 100% subsidiary of CLS) and its subsidiaries and affiliates. The total purchase price shall be $725 million, including the repayment of the existing debt, subject to customary post-closing price adjustments. The transaction does not include CLS’ Caris Target Now™ molecular profiling service or Carisome™ circulating microvesicle technology, currently under development."

http://www.carislifesciences.com/news/miraca-holdings-to-acquire-caris-life-sciences%E2%80%99-anatomic-pathology-business/

I apologize for not being able to cut and paste the graphics below, but Claris reports 850K patients tested in 2010. We do not know how many patients are subsumed in the business that is being sold. As a comparative metric, NGNM tested approximately 60K patients in 2010 and is on track to test about 75K patients this year. There's no way of knowing what the margins are for Claris's business segment being sold either, but NGNM's stays consistently in the 55% range if memory serves.


http://www.carislifesciences.com/our-history-of-growth

Finally, if you are interested, NGNM will announce Q3 earnings and revenues on 10/19:

http://finance.yahoo.com/news/NeoGenomics-Schedules-its-Q3-prnews-4025585451.html?x=0&.v=1