SAN DIEGO, June 27, 2012 /PRNewswire/ -- Sequenom, Inc. (NASDAQ: SQNM), a life sciences company providing innovative genetic analysis solutions, today announced the appointment of Carolyn Beaver to Vice President and Chief Accounting Officer.
"Carolyn's strong background and financial acumen make her an extremely valuable complement to the Sequenom management team," said Paul Maier, Sequenom's Chief Financial Officer. "We look forward to her contributions in continuing to pursue functional excellence in finance and accounting within our growing organization."
Ms. Beaver was previously employed with Beckman Coulter, Inc., a global biomedical testing manufacturer, and served in various roles, including Corporate Vice President, Controller and Chief Accounting Officer since August 2005. Since its acquisition by Danaher Corp. in June 2011, Ms. Beaver continued to serve at Beckman Coulter, Inc. as the Corporate Vice President, Controller. From 1987 until 2002, Ms. Beaver was a partner with KPMG LLP. Ms. Beaver also currently serves as a director of Commerce National Bank, a position she has held since 2005. Ms. Beaver holds a B.S. in Accounting from California State Polytechnic University, Pomona.
In connection with her appointment, Ms. Beaver received a nonqualified stock option grant for 100,000 shares of common stock under our New Hire Equity Incentive Plan. The option has an exercise price of $4.14, which was equal to the closing price of Sequenom's common stock on June 26, 2012, the effective date of her employment. This option will vest and become exercisable by Ms. Beaver over four years, with 25% vesting on June 26, 2013 and ratably monthly thereafter, subject to her continued service through the applicable vesting dates. The option will expire after ten years. This option is granted as an inducement grant pursuant to Section 5635(c)(4) of the Nasdaq Marketplace Rules.
Sequenom, Inc. (NASDAQ: SQNM) is a life sciences company committed to improving healthcare through revolutionary genetic analysis solutions. Sequenom develops innovative technology, products and diagnostic tests that target and serve discovery and clinical research, and molecular diagnostics markets. The company was founded in 1994 and is headquartered in San Diego, California. Sequenom maintains a Web site at http://www.sequenom.com to which Sequenom regularly posts copies of its press releases as well as additional information about Sequenom. Interested persons can subscribe on the Sequenom Web site to email alerts or RSS feeds that are sent automatically when Sequenom issues press releases, files its reports with the Securities and Exchange Commission or posts certain other information to the Web site.
Except for the historical information contained herein, the matters set forth in this press release, including statements regarding Ms. Beaver's expected contributions to Sequenom's growing organization, and Sequenom's commitment to improving healthcare through revolutionary genetic analysis solutions, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the risks and uncertainties associated with Sequenom's ability to develop and commercialize new technologies and products, particularly new technologies such as prenatal and other diagnostics and laboratory developed tests, Sequenom's ability to manage its existing cash resources or raise additional cash resources, competition, intellectual property protection and intellectual property rights of others, government regulation particularly with respect to diagnostic products and laboratory developed tests, obtaining or maintaining regulatory approvals, ongoing litigation, including patent litigation, and other risks detailed from time to time in Sequenom, Inc.'s most recent Annual Report on Securities and Exchange Commission Form 10-K and other documents subsequently filed with or furnished to the Securities and Exchange Commission. These forward-looking statements are based on current information that may change and you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and Sequenom, Inc. undertakes no obligation to revise or update any forward-looking statement to reflect events or circumstances after the issuance of this press release.
SOURCE Sequenom, Inc.