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wafergen bio-systems inc (WGBS) Snapshot

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08/8/13 - $39.76
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wafergen bio-systems inc (WGBS) Details

WaferGen Bio-systems, Inc. develops, manufactures, and sells systems for gene expression quantification, genotyping, and stem cell research for the life sciences and pharmaceutical drug discovery industries in the United States, Canada, Europe, and the Asia Pacific. The company offers SmartChip Real-Time PCR system, which provides a suite of gene expression and genome analysis technologies enabling biomarker discovery and validation on a single platform with the sensitivity and accuracy of real-time polymerase chain reaction (PCR). Its SmartChip Real-Time PCR system consists of two instrumentation components comprising a SmartChip MultiSample Nanodispenser for applying sample, assay, and reaction mix to the SmartChip Panels; and a SmartChip Cycler for thermal cycling and collecting data from the real-time PCR assays. The company also provides SmartChip Target Enrichment system for performing a sample preparation step prior to targeted next-generation sequencing (NGS); and Apollo 324TM System, a walk-away automation platform that offers DNA, RNA-Seq, and ChIP-Seq library preparation kits for analysis on NGS platforms. The company focuses on providing its products to researchers who perform genetic analysis, primarily at pharmaceutical and biotech companies, academic and private research centers, and diagnostics companies involved in biomarker discovery and genetic research. WaferGen Bio-systems, Inc. was founded in 2002 and is headquartered in Fremont, California.

41 Employees
Last Reported Date: 07/18/14
Founded in 2002

wafergen bio-systems inc (WGBS) Top Compensated Officers

Chairman of The Board, Chief Executive Office...
Total Annual Compensation: $720.0K
Compensation as of Fiscal Year 2013.

wafergen bio-systems inc (WGBS) Key Developments

WaferGen Biosystems, Inc. Announces Board Changes

WaferGen Bio-systems, Inc. announced that its Board of Directors has appointed Ivan Trifunovich, the company's President and Chief Executive Officer, as Chairman of the Board. Joel Kanter, a director of the company since 2007, will serve as lead independent director. Alnoor Shivji, the company's Chairman since 2002, resigned from the board to focus full time on a new startup venture.

Wafergen Biosystems, Inc. Approves to Amend and Restate its Articles of Incorporation

WaferGen Biosystems, Inc. at its annual meeting of stockholders held on May 29, 2014, approved the grant of discretionary authority to the board of directors to amend the company's Amended and Restated Articles of Incorporation to effect a reverse stock split of the outstanding shares of common stock of the company, at any time within one year after stockholder approval is obtained, by a ratio of not less than one-for-two and not more than one-for-25, with the exact ratio to be set within this range as determined by the Board of Directors in its sole discretion.

WaferGen Biosystems, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Revises Revenue Guidance for the Year 2014

WaferGen Biosystems, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported total revenue of $1,405,513, up 687% from $178,487 in the first quarter of 2013. Net loss was $2,545,615, compared to $3,781,510 in the first quarter of 2013. The net loss reduction was primarily due to an increase in revenue of $1.2 million resulting in an increase in gross profit of $686,000 and a $1.6 million improvement in other income and expenses as a result of reduced interest expense and changes in derivative valuations, offset by a $1.0 million increase in operating expenses. Operating loss was $2,652,381 against $2,292,460 a year ago. Net loss before provision for income taxes was $2,542,515 against $3,777,798 a year ago. Net loss attributable to common stockholders was $2,545,615 or $0.28 per basic and diluted share against $3,988,194 or $9.51 per basic and diluted share a year ago. The company increasing the revenue guidance for full year 2014 to be in excess of $6 million for 2014 from its prior guidance of in excess of $5 million.


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