Nanogen

Nanogen Reports 2005 Second Quarter Financial Results SAN DIEGO, Aug. 2 /PRNewswire-FirstCall/ -- Nanogen, Inc. (Nasdaq: NGEN), developer of advanced diagnostic products, today announced its unaudited financial results for the quarter ended June 30, 2005. Total revenues for the second quarter of this year increased by 180 percent to $3.1 million from $1.1 million in the same period in 2004, and decreased slightly from $3.2 million in the first quarter of 2005. Product revenues for the second quarter of 2005 were $1.1 million compared to $0.5 million for the second quarter of 2004 and $1.2 million in the first quarter of 2005. Nanogen's research and development, and selling, general and administrative operating expenses for the second quarter of 2005 were $11.6 million compared to $8.3 million in the quarter one year ago reflecting primarily increased expenses from acquired companies. These expenses were approximately $0.7 million higher than the research and development, and selling, general and administrative expenses of $10.9 million in the first quarter of 2005 due mostly to sales and marketing costs associated with the anticipated shipment of new products. Nanogen's consolidated cash, cash equivalents and short-term investments balance at the end of the second quarter of 2005 was $31.9 million, compared to $39.8 million at the close of the previous quarter. For the quarter ended June 30, 2005, Nanogen reported a net loss of $9.7 million or $0.20 per share, compared to a net loss of $12.9 million or $0.39 per share in the same period of 2004 and a loss of $8.3 million or $0.17 per share in the first quarter of 2005. 'Our second quarter's results were consistent with those of the previous quarter demonstrating the stability of our financial model following the integration of two acquisitions. We have built a good foundation on which new products and further acquisitions can be added,' said Howard C. Birndorf, Nanogen's chairman of the board and chief executive officer. 'We are eagerly anticipating the shipment of new products later this fiscal year that will help us grow our revenue base and set the stage for significant growth during 2006.' Nanogen recently made an equity investment in Jurilab, a Finnish company that has developed a rich database of genetic markers over the past twenty years. The investment is the latest step in implementing Nanogen's strategy to create an advanced diagnostics company with proprietary content, market-leading solutions, and a robust platform technology. Through its new alliance, Nanogen will acquire certain rights to develop unique diagnostic products based on genes and gene markers discovered by Jurilab. Jurilab's initial efforts have focused on cardiovascular and metabolic diseases including adult onset diabetes. Webcast of Today's Conference Call Nanogen management will host a conference call today to discuss the preliminary second quarter 2005 results at 4:30 p.m. Eastern Time (1:30 p.m. Pacific). Audio of management's presentation will be available via live webcast on the investor relations section of Nanogen's corporate web site at www.nanogen.com, and will be archived for 90 days. A digital recording of the call will also be available for 48 hours, beginning two hours after the completion of the conference call on August 2, and can be accessed via telephone at (877) 660-6853 for US/Canada participants, and (201) 612-7415 for international participants. The account number, 286, along with the conference ID, 162458, will be required to listen to the playback. About Nanogen, Inc. Nanogen's advanced diagnostics provide researchers, clinicians and physicians worldwide with improved methods and tests to predict, diagnose and ultimately help treat disease. The company's products include real-time PCR reagents, the NanoChip(R) Molecular Biology Workstation platform for molecular diagnostic applications and a line of rapid point-of-care diagnostic tests. Nanogen's ten years of pioneering research involving nanotechnology holds the promise of miniaturization and continues to be supported for its potential for diagnostic and biowarfare applications. For additional information please visit Nanogen's website at www.nanogen.com. Forward-Looking Statement This press release contains forward-looking statements that are subject to risks and uncertainties, including statements regarding future financial and operating performance and projections regarding growth. These forward-looking statements are based on current expectations and speak only as of the date hereof. Actual results may differ materially from those set forth in the forward-looking statements, as a result of various factors and uncertainties, including whether Jurilab's technology will be successfully commercialized, whether patents owned or licensed by Nanogen will be developed into products, whether the patents owned by Nanogen offer any protection against competitors with competing technologies, whether products under development can be successfully developed and commercialized, and whether unforeseen problems may impact the timing of planned product launches, and other risks and uncertainties discussed under the caption 'Factors That May Affect Results' and elsewhere in Nanogen's Form 10-K or Form 10-Q most recently filed with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. Nanogen disclaims any intent or obligation to update these forward-looking statements. NANOGEN, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except par value and share data) As of As of June 30, December 31, 2005 2004 ASSETS (unaudited) Current assets: Cash and cash equivalents $18,824 $15,372 Short-term investments 13,051 36,562 Receivables, net of allowance for doubtful accounts of $70 and $176 at June 30, 2005 and December 31, 2004, respectively 2,334 2,023 Inventories, net 2,274 1,744 Other current assets 2,253 1,741 Total current assets 38,736 57,442 Property and equipment, net 8,101 8,500 Acquired technology rights, net 10,587 11,819 Restricted cash 1,411 1,411 Other assets, net 804 780 Goodwill 96,178 96,072 Total assets $155,817 $176,024 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable and accrued liabilities $7,653 $9,923 Deferred revenue 442 420 Common stock warrants 275 1,112 Current portion of debt obligations 874 988 Total current liabilities 9,244 12,443 Debt obligations, less current portion 658 610 Other long-term liabilities 5,508 5,455 Total long-term liabilities 6,166 6,065 Stockholders' equity: Convertible preferred stock, $0.001 par value, 5,000,000 shares authorized; no shares issued and outstanding at June 30, 2005 and December 31, 2004 -- -- Common stock, $0.001 par value, 135,000,000 shares authorized at June 30, 2005 and December 31, 2004; 47,859,967 and 47,765,581 shares issued and outstanding at June 30, 2005 and December 31, 2004, respectively 48 48 Additional paid-in capital 375,404 374,910 Accumulated other comprehensive loss (115) (174) Deferred compensation (868) (1,184) Accumulated deficit (233,140) (215,162) Treasury stock, at cost, 500,189 shares at June 30, 2005 and December 31, 2004, respectively (922) (922) Total stockholders' equity 140,407 157,516 Total liabilities and stockholders' equity $155,817 $176,024 NANOGEN, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (in thousands, except per share data) Three Months Ended Six Months Ended June 30, June 30, 2005 2004 2005 2004 Revenues: Product sales $1,078 $477 $2,288 $1,609 License fees and royalty income 1,623 38 3,323 190 Sponsored research -- 125 -- 500 Contracts and grants 434 478 700 978 Total revenues 3,135 1,118 6,311 3,277 Costs and expenses: Cost of product sales 1,128 1,940 2,274 2,854 Research and development 5,160 4,040 10,072 8,388 Selling, general and administrative 6,410 4,234 12,377 7,809 Charge for acquire in-process research and development -- 3,758 -- 3,758 Amortization of purchased intangible assets 392 -- 785 -- Total costs and expenses 13,090 13,972 25,508 22,809 Loss from operations (9,955) (12,854) (19,197) (19,532) Other income (expense): Interest income, net 309 129 488 231 Other expense (22) (147) (110) (167) Warrant valuation adjustment (44) -- 837 -- Gain on foreign currency translation (9) (17) 4 1,204 Total other income 234 (35) 1,219 1,268 Net loss $(9,721) $(12,889) $(17,978) $(18,264) Net loss per share -- basic and diluted $(0.20) $(0.39) $(0.38) $(0.61) Number of shares used in computing net loss per share -- basic and diluted 47,783 32,798 47,778 29,870 SOURCE Nanogen, Inc.

Nanogen Awarded $2.5 Million Grant for Development of Diagnostics for Sepsis and Pneumonia SAN DIEGO, Aug. 1 /PRNewswire-FirstCall/ -- Nanogen, Inc. (Nasdaq: NGEN), developer of advanced diagnostic products, announced today that the National Institute of Allergy and Infectious Diseases (NIAID), a division of the U.S. National Institutes of Health (NIH) has awarded the company a grant in the amount of $2.5 million over the next five years for a research project to develop a prototype fully integrated diagnostic system for clinical labs to identify infectious agents that cause sepsis and community-acquired pneumonia (CAP). The grant will enable Nanogen to develop improved molecular biological methods, miniaturize those methods, and demonstrate the performance of this new molecular diagnostic approach to diagnose sepsis and CAP in a hospital laboratory setting. Full laboratory work-ups to specifically determine the cause of sepsis or pneumonia from the large number of possible disease-causing bacterial and viral agents is time consuming and expensive. In addition, broad spectrum antibiotics, which may not effectively treat patients, are often administered while awaiting test results. Nanogen will be using its proprietary chemistry and multiplex detection technologies and employing the Medical College of Wisconsin's technologies and clinical and microbiological expertise. The goal of this partnership is to develop an automated diagnostic system that would be able to rapidly detect a number of bacteria and viruses that cause sepsis and pneumonia in patients. 'In previous government grant programs, Nanogen greatly reduced the size of its instrument and integrated essential biological sample preparation, amplification and detection technologies to design a sample-to-answer diagnostic system,' said Howard C. Birndorf, Nanogen's chairman of the board and CEO. 'This NIAID/NIH research program will further the design of a sophisticated prototype assay and instrument system and sepsis and pneumonia detection panels to help physicians expedite test results in the hospital lab and make better treatment decisions.' Mortality from sepsis can range from 28 to 50%. In addition, pneumonia remains the seventh leading cause of death in the U.S. Estimates of the incidence of CAP range from 4 to 5 million cases per year. Early identification and appropriate treatment of the underlying cause of sepsis and pneumonia will improve patient outcomes. About Nanogen, Inc. Nanogen's advanced diagnostics provide researchers, clinicians, physicians and patients worldwide with improved methods and tests that can predict, diagnose and ultimately help treat disease. Nanogen's products include real-time PCR reagents, the NanoChip(R) Molecular Biology Workstation platform for molecular diagnostic applications and its line of rapid point-of-care diagnostic tests. Nanogen's ten years of pioneering research involving nanotechnology may also have future applications in medical diagnostics, biowarfare and other industries. For additional information please visit Nanogen's website at www.nanogen.com.

diese News kamen : 24.05.2005 Nanogen erhält 2 neue Patente Die Aktien von Nanogen können im vorbörslichen Handel von der Meldung des Erhalts von zwei Patenten im Bereich der Bioforschung sowie der Nukleinsäue deutlich profitieren. Wie das Unternehmen am Dienstag weiter mitteilte, erhöht sich damit das Portfolio von US-Patenten auf 128. Nanogen legen vorbörslich um 7% auf 3,99 USD zu (boerse-go.de, wirtschaftsblatt:online Partner)

vor Handelsende, kommt der Wert noch mal kräftig unter druck ?