July 11 Financial Quick Takes: Illumina tumbles on revenue miss; plus PureTech, Horizon and more
Illumina falls after revenue miss
Illumina Inc. (NASDAQ:ILMN) was off $58.66 (16%) to $305 in after-hours trading after reporting preliminary 2Q19 revenues of $835 million, barely topping its $830 million revenues in the prior year’s quarter and below consensus estimates of $888.3 million. Illumina said the miss was primarily driven by weakness in the direct-to-consumer market, lower-than-anticipated sales of NextSeq systems and consumables and lower-than-expected performance for its population genomics initiatives, including a “sizable” sequencing and consumables purchase that did not close during the quarter. Consensus figures provided by FactSet.
PureTech mulling U.S. listing
PureTech Health plc (LSE:PRTC) said it is considering an offering of ADSs on NASDAQ. Originally designed to spin out technologies into affiliate companies, PureTech is now developing its own pipeline based on technologies involving the brain-immune-gut axis. It has been publicly traded in London since 2015 (see "PureTech Turns Inward")...