Securities sale funds deCODE to second quarter
This article was originally published in Clinica
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.