WaferGen Biosystems Reports Results For Third Quarter 2016
11/9/2016 1:22:36 PM
FREMONT, Calif., Nov. 8, 2016 /PRNewswire/ -- WaferGen Bio-systems, Inc. (NASDAQ: WGBS), a life sciences company focused on developing and commercializing technology platforms for genomic solutions, announced today its financial results for the third quarter ended September 30, 2016.
Key Recent Highlights
The special shareholder meeting to vote on the proposed merger with Takara Bio USA Holdings Inc. was adjourned and rescheduled to November 15, 2016. Proxies received to date have been strongly in favor of the merger proposal but approval of a majority of all outstanding shares is necessary for this proposal to be approved.
Product sales through our new Japanese distribution partner, Takara, since they were engaged in June 2016, have exceeded sales through our prior distributor during 2015.
Quarterly product revenue increased 27% over the same quarter last year.
Placed four ICELL8™ Single-Cell Systems in the third quarter of 2016.
Closed on September 30, 2016, with $5.1 million in cash, which WaferGen believes is sufficient to fund operations into 2017.
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