7/25/2023 0 Comments Smilebox login free![]() ![]() Any of these events could impair our ability to compete for collaborative arrangements, for access to DNA samples or for product or technology licensing arrangements and ultimately could adversely affect our ability to develop and market products.Īs a step toward the personal genome, the company has announced that its deCODEme service is available for $985 to anyone who wishes to send a cheek swab to learn details about ancestry or disease risk. Also, it is possible that a judgment against us with respect to the non-competition, non-solicitation, or non-disclosure agreements with the individual defendants (1) would allow the defendants to engage in competition with us, (2) may cause other current or former employees to test the validity of their non-competition, non-solicitation, and non-disclosure agreements when they might otherwise have refrained from doing so, or (3) may cause other institutions besides CHOP to hire our current or former employees when they might otherwise have refrained from doing so. It is possible that a judgment against us with respect to our allegations of trade secret misappropriation may negatively affect our ability to protect some of what we consider to be our confidential information under the law of trade secrets. District Court for the Eastern District of Pennsylvania against five former employees for misappropriation of our trade secrets and intellectual property, related breach of non-competition, non-solicitation, and non-disclosure provisions of their employment agreements, and violation of the federal Computer Fraud and Abuse Act in connection with their employment by The Children’s Hospital of Philadelphia (CHOP). If we are not successful in our pending litigation regarding misappropriation of trade secrets and breach of related non-competition, non-solicitation and non-disclosure agreements, our ability to protect our confidential information and to enforce non-competition and non-solicitation agreements against former employees may be impaired, which could adversely affect our business and prospects. The same SEC filing indicates that deCODE is involved in a lawsuit against former employees for computer fraud and disclosure of confidential information. If the time required to generate product revenues and achieve profitability is longer than we currently anticipate, or if the level of losses is greater than we currently anticipate, we may not be able to continue our operations. As a result, we expect to incur net losses for several years. It may be several years before product revenues materialize, if they do at all. ![]() We do not expect to receive royalties or other revenues from commercial sales of products developed using our technology in the near term. Our research and development expenditures and selling, general and administrative costs have exceeded our revenue to date, and we expect to spend significant additional amounts to fund research and development in order to enhance our core technologies and undertake product development (including drug development and related clinical trials). We have never generated a profit and we have not generated revenues except for payments received in connection with our research and development collaborations with Roche, Merck and others, from contract services, from sales of Emerald BioSystems products and instruments, and grant funding. We incurred a net loss of $85.5 million, $62.8 million and $57.3 million for the years ended December 31, 2006, 20, respectively, and had an accumulated deficit of $535.7 million at December 31, 2006. If we continue to incur operating losses longer than anticipated, or in amounts greater than anticipated, we may be unable to continue our operations. However, the company believes it can continue to identify disease-related genes without such a database ĭeCODE's most recent 10-K SEC filing reveals that their net losses to date are in excess of 530 million dollars, and that they have never turned a profit : Guide to balance cleaning: 8 simple stepsĭeCODE's approach to identifying genes, and in particular its attempt to set up an Icelandic Health Sector Database (HSD) containing the medical records and genealogical and genetic data of all Icelanders, has been very controversial, and prompted national and international criticism for its approach to the concepts of privacy and consent A legal judgement from the Icelandic Supreme Court in November 2003 effectively killed off the HSD project.
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