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Securities sale funds deCODE to second quarter

This article was originally published in Clinica

Executive Summary

Biopharmaceutical firm deCODE genetics has financed its operations through to the second fiscal quarter after selling $11m of auction rate securities to Icelandic financial institution NBI. This funding will allow Reykjavik, Iceland-based deCODE to complete a review of its operations and determine the best possible strategic alternatives without seeking additional financing. deCODE is currently working on expanding its range of DNA-based diagnostics, to include tests for genetic variants linked to risk of prostate cancer, breast cancer, deep vein thrombosis, glaucoma, and other common diseases.

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