Complete Genomics Cutting some costs to ensure adequate funding upon launch in June
Posted Apr 13 2009 11:49pm
I am curious to see if we are still going to be afforded the $5000.00 price tag that has been announced, I hope so. BD
From January 2009
This is perhaps one of the most awaited announcements with Complete Genomics, who is basically slated to use their technology to “wholesale”sequencing, in other words, they will run the DNA but will not provide the analysis and is said to have a pretty big impact on what the cost of sequencing is going to be for the future. Are we getting closer to the 5K cost for an entire human genome analysis? If so, it somewhat stands to reason they could be very busy once things get underway. BD
GenomeWeb News reports that genome sequencing company Complete Genomics is cutting costs in the lead-up to the commercial launch of its whole-genome sequencing service in June:
In order to save its remaining cash, the company recently implemented "a variety of cost-saving measures," including "some reductions" in the salaries of its employees and a trimming of "non-essential" costs, such as discretionary spending. "We just want to be prudent about [spending] our cash," Reid said. The company has not had any layoffs, he added, and is "still running at full capacity." At this time, he said, Complete Genomics does not anticipate any effect of the current lack of funding on its ability to launch its service in June, or to complete pilot projects on time. As of earlier this year, the firm had approximately 120 employees.