GenProbe Inc. (GPRO, Financial) filed Annual Report for the period ended 2010-12-31.
Genprobe Inc. has a market cap of $3.01 billion; its shares were traded at around $62.5 with a P/E ratio of 29.3 and P/S ratio of 5.5. Genprobe Inc. had an annual average earning growth of 25% over the past 10 years.Hedge Fund Gurus that owns GPRO: Manning & Napier Advisors, Inc, Steven Cohen of SAC Capital Advisors. Mutual Fund and Other Gurus that owns GPRO: Ron Baron of Baron Funds, Richard Aster Jr of Meridian Fund, Columbia Wanger of Columbia Wanger Asset Management, Jeremy Grantham of GMO LLC, Jean-Marie Eveillard of First Eagle Investment Management, LLC.
In June 2010, we entered into a collaboration agreement with Pacific Biosciences of California, Inc., or Pacific Biosciences, regarding the research and development of instruments integrating our sample preparation technologies and Pacific Biosciences single-molecule deoxyribonucleic acid, or DNA, sequencing technologies for use in clinical diagnostics. Subject to customary termination rights, the initial term of the collaboration will end on the earlier of December 15, 2012 or six months after Pacific Biosciences demonstrates the proof of concept of its V2 single-molecule DNA sequencing system. Concurrently with the execution of the collaboration agreement, we also purchased $50.0 million of Pacific Biosciences Series F preferred stock, as a participant in Pacific Biosciences Series F preferred stock round of financing that raised a total of approximately $109.0 million. In October 2010, Pacific Biosciences completed an initial public offering of its common stock. As a result of the initial public offering, our preferred stock was converted into common stock.
As of December 31, 2010, we had 318 full-time and temporary employees in research and development. We believe that compared to our peers, we invest a higher percentage of our revenue in research and development, with expenses totaling $111.1 million in 2010, $106.0 million in 2009 and $101.1 million in 2008. Based on these investments, we had more than 540 United States and foreign patents covering our products and technologies as of December 31, 2010. We were awarded a 2004 National Medal of Technology, the nations highest honor for technological innovation, in recognition of our pioneering work in developing NAT testing systems to safeguard the nations blood supply.
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Genprobe Inc. has a market cap of $3.01 billion; its shares were traded at around $62.5 with a P/E ratio of 29.3 and P/S ratio of 5.5. Genprobe Inc. had an annual average earning growth of 25% over the past 10 years.Hedge Fund Gurus that owns GPRO: Manning & Napier Advisors, Inc, Steven Cohen of SAC Capital Advisors. Mutual Fund and Other Gurus that owns GPRO: Ron Baron of Baron Funds, Richard Aster Jr of Meridian Fund, Columbia Wanger of Columbia Wanger Asset Management, Jeremy Grantham of GMO LLC, Jean-Marie Eveillard of First Eagle Investment Management, LLC.
Highlight of Business Operations:
In October 2009, we acquired Prodesse, a privately held Wisconsin corporation, for approximately $60.0 million, subject to a designated pre-closing operating income adjustment, and up to an aggregate of $25.0 million in potential additional cash payments based on the achievement of certain specified performance measures. As a result of the failure to achieve a specified milestone, the maximum amount of contingent consideration we may be required to pay for our acquisition of Prodesse has been reduced to $15.0 million, of which $10.0 million was paid in July 2010. We do not currently expect to make any further milestone payments related to our acquisition of Prodesse. Our acquisition of Prodesse has provided us with access to the respiratory and gastrointestinal infectious disease markets, which we believe supports our strategic focus on commercializing differentiated molecular tests for infectious diseases.In June 2010, we entered into a collaboration agreement with Pacific Biosciences of California, Inc., or Pacific Biosciences, regarding the research and development of instruments integrating our sample preparation technologies and Pacific Biosciences single-molecule deoxyribonucleic acid, or DNA, sequencing technologies for use in clinical diagnostics. Subject to customary termination rights, the initial term of the collaboration will end on the earlier of December 15, 2012 or six months after Pacific Biosciences demonstrates the proof of concept of its V2 single-molecule DNA sequencing system. Concurrently with the execution of the collaboration agreement, we also purchased $50.0 million of Pacific Biosciences Series F preferred stock, as a participant in Pacific Biosciences Series F preferred stock round of financing that raised a total of approximately $109.0 million. In October 2010, Pacific Biosciences completed an initial public offering of its common stock. As a result of the initial public offering, our preferred stock was converted into common stock.
As of December 31, 2010, we had 318 full-time and temporary employees in research and development. We believe that compared to our peers, we invest a higher percentage of our revenue in research and development, with expenses totaling $111.1 million in 2010, $106.0 million in 2009 and $101.1 million in 2008. Based on these investments, we had more than 540 United States and foreign patents covering our products and technologies as of December 31, 2010. We were awarded a 2004 National Medal of Technology, the nations highest honor for technological innovation, in recognition of our pioneering work in developing NAT testing systems to safeguard the nations blood supply.
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