CombiMatrix Migrates Miscarriage Analysis Microarray Testing to Newer Scanning Panel
Illumina CytoSNP-12 Features High-Quality Test Results at Reduced Cost per Array
IRVINE, Calif., Feb. 09, 2016 (GLOBE NEWSWIRE) -- CombiMatrix Corporation (NASDAQ:CBMX), a molecular diagnostics company specializing in DNA-based testing services for prenatal and postnatal developmental disorders and pre-implantation genetic screening services, announces the migration of its microarray-based miscarriage testing to the Illumina HumanCytoSNP-12 BeadChip array platform. CombiMatrix had previously performed miscarriage analysis on the Illumina CytoSNP-850K BeadChip microarray platform.
“Our upgrade to this newer platform is expected to reduce the cost per array by approximately $60 per diagnostic test, positively impacting gross margins,” said Mark McDonough, President and Chief Executive Officer of CombiMatrix. “This is an important strategic move that supports our focus on microarray testing in the growing in vitro fertilization (IVF) and miscarriage analysis markets, while reducing costs and furthering our goal of achieving profitability.
“Upgrading to the CytoSNP-12 is also in keeping with our commitment to employ the latest in technological advancements to provide in-depth answers to complex health questions,” added Mr. McDonough. “The CytoSNP-12 is designed to provide high-throughput analysis of genetic and structural variations with substantially better resolution to detect smaller regions compared to fluorescence in situ hybridization (FISH) or array comparative genomic hybridization (arrayCGH). Studies show that it can achieve average SNP call rates and reproducibility of greater than 99%, and low noise for copy number measurements.”
About CombiMatrix Corporation
CombiMatrix Corporation provides valuable molecular diagnostic solutions and comprehensive clinical support to foster the highest quality in patient care. CombiMatrix specializes in prenatal diagnostics, miscarriage analysis for recurrent pregnancy loss, pediatric genetics and pre-implantation genetic screening, offering DNA-based testing for the detection of genetic abnormalities beyond what can be identified through traditional methodologies. CombiMatrix performs genetic testing utilizing a variety of advanced cytogenomic techniques, including chromosomal microarray, standardized and customized fluorescence in situ hybridization (FISH) and high-resolution karyotyping. CombiMatrix is dedicated to providing high-level clinical support for healthcare professionals in order to help them incorporate the results of complex genetic testing into patient-centered medical decision making. Additional information about CombiMatrix is available at www.combimatrix.com or by calling (800) 710-0624.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations, speak only as of the date hereof and are subject to change. All statements, other than statements of historical fact included in this press release, are forward-looking statements. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "goal," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words and include, but are not limited to, statements regarding projected results of operations and management's future business, operational and strategic plans, recruiting efforts and test menu expansion. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. The risks and uncertainties referred to above include, but are not limited to: market acceptance of the HumanCytoSNP-12 BeadChip array platform; our ability to successfully expand the base of our customers and strategic partners, add to the menu of our diagnostic tests, develop and introduce new tests and related reports, expand and improve our current suite of services, optimize the reimbursements received for our microarray testing services, and increase operating margins by improving overall productivity and expanding sales volumes; our ability to successfully accelerate sales, steadily increase the size of our customer rosters in both prenatal and developmental genetic testing markets; our ability to attract and retain a qualified sales force in wider geographies; our ability to ramp production from our sales force and our strategic partners; rapid technological change in our markets; changes in demand for our future services; legislative, regulatory and competitive developments; the outcome of pending litigation; general economic conditions; and various other factors. Further information on potential factors that could affect our financial results is included in our Annual Report on Form 10-K, Quarterly Reports of Form 10-Q, and in other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update publicly any forward-looking statements for any reason, except as required by law.
|Company Contact:||Investor Relations Contact:|
|President & CEO, CombiMatrix Corporation||Jody Cain|
|(949) 753-0624||(310) 691-7100|