• Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms & Conditions
Sunday, February 5, 2023
Flyy News
No Result
View All Result
  • Home
  • World
  • Business
  • Entertainment
  • Health
  • Food
  • Politics
  • Tech
  • Science
  • Travel
  • Fashion
  • Lifestyle
  • Home
  • World
  • Business
  • Entertainment
  • Health
  • Food
  • Politics
  • Tech
  • Science
  • Travel
  • Fashion
  • Lifestyle
No Result
View All Result
Flyy News
No Result
View All Result
Home Health

Sema4 to exit reproductive health testing, lay off 500

flyynews by flyynews
November 18, 2022
in Health
0
Sema4 to exit reproductive health testing, lay off 500
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter



AI-backed genomic and clinical data company Sema4 announced this week it would exit the reproductive health testing business, shut down its lab in Stamford, Connecticut, and lay off about 500 employees.

The company said it would complete its departure from the segment in the first quarter next year. It will now employ about 1,100 workers. According to a WARN Act Notice filed in Connecticut, the cuts affect 206 employees who report to its headquarters in Stamford, 227 who work in the Stamford lab and 15 from its Branford lab. 

The latest layoffs come months after Sema4 cut around 250 staffers, then around 13% of its workforce, as part of another restructuring. Combined with layoffs from earlier this year, Sema4 said in August it had cut about 30% of its jobs from its legacy business.

By eliminating the reproductive health segment, the company will double down on its GeneDx exome and whole genome sequencing service and its Centrellis data platform. Sema4, which acquired GeneDx earlier this year, is pitching the focus on these offerings as a way to reach profitability, which it now expects in 2025. 

“We believe that our focused commercial and R&D efforts provide the right foundation for us to target higher growth areas of the genomics market and optimize our data and health insights go-to-market strategy,” Katherine Stueland, president and CEO of Sema4, said in a statement. 

“We expect the combination of these efforts will help us grow revenue in excess of 20% over the next several years. We also expect the actions we have undertaken will enable us to more than double our run rate gross margin profile exiting the third quarter and reduce our annual cash burn by greater than 50% in 2023.”

THE LARGER TREND

Sema4 was spun out from Mount Sinai Health System in 2017 and hit the public markets through a merger with a special purpose acquisition company last year.

Alongside the summer job cuts, founder Eric Schadt, who had been with the company since it spun off, left his roles as president and chief research and development officer, as well as his position as director of the company.

Sema4 also posted results for the third quarter that ended September 30. It reported revenue of $83.2 million compared to $43.2 million in the prior-year period. The company posted a net loss of $77.6 million, compared with income of $32.7 million last year.

Sema4 said it will maintain its full-year revenue guidance of $245 to 255 million.



Source_link

READ ALSO

How to Treat a Cold or Flu With COVID-19

How to Read More—and Why You Should

Related Posts

How to Treat a Cold or Flu With COVID-19
Health

How to Treat a Cold or Flu With COVID-19

February 5, 2023
How to Read More—and Why You Should
Health

How to Read More—and Why You Should

February 5, 2023
How to have more fun: 5 ideas to make your life more playful : Shots
Health

How to have more fun: 5 ideas to make your life more playful : Shots

February 5, 2023
Data sharing at the state and local levels requires more resources
Health

Data sharing at the state and local levels requires more resources

February 4, 2023
Health

New and Noteworthy: What I Read This Week—Edition 207

February 4, 2023
Deer Carry COVID Variants No Longer Seen in People
Health

Deer Carry COVID Variants No Longer Seen in People

February 4, 2023
Next Post
Cisco layoffs won’t affect Israeli workforce

Cisco layoffs won't affect Israeli workforce

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

Angel -Dave Curl – Official Music Video 2022

Angel -Dave Curl – Official Music Video 2022

November 17, 2022
Proud By Cytonic Rhymes – Official Music 2022

Proud By Cytonic Rhymes – Official Music 2022

November 25, 2022
Sweet Bennie Ray – Whole Lot (Official Music Video)

Sweet Bennie Ray – Whole Lot (Official Music Video)

December 22, 2022
SUPER VITAMIN C COLLECTION | STRIVECTIN

SUPER VITAMIN C COLLECTION | STRIVECTIN

December 16, 2022
Rain And Lily Pond Sounds | 10 Hours | Sleep, Relaxation | Dark Screen

Rain And Lily Pond Sounds | 10 Hours | Sleep, Relaxation | Dark Screen

November 14, 2022

About Us

Welcome to Flyy News The goal of Flyy News is to give you the absolute best news sources for any topic! Our topics are carefully curated and constantly updated as we know the web moves fast so we try to as well.

Follow us

Categories

  • Business
  • Entertainment
  • Fashion
  • Food
  • Gaming
  • Health
  • Lifestyle
  • Politics
  • Reviews
  • Science
  • Tech
  • Travel
  • World

Site Links

  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms & Conditions

Recent News

  • George Santos Must Resign or Be Expelled
  • Experts Fear Bird Flu Outbreak Could Turn Into New Pandemic
  • Chaotic cash shortage forces Nigerians to wait hours for $43
  • How to Treat a Cold or Flu With COVID-19

Copyright © 2022 Flyynews.com | All Rights Reserved.

No Result
View All Result
  • Home
  • World
  • Business
  • Entertainment
  • Health
  • Food
  • Politics
  • Tech
  • Science
  • Travel
  • Fashion
  • Lifestyle

Copyright © 2022 Flyynews.com | All Rights Reserved.

What Are Cookies
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT