Contribute Try STAT+ Today

If you look closely at Thursday’s bad news from Illumina (ILMN), the multibillion-dollar standard-bearer of the genomics industry, you might see a worrisome sign.

Illumina missed its quarterly revenue expectations and slashed its full-year sales guidance by more than 50%, a shocking turn that sent its stock price down about 20%. And the details are interesting: Illumina still expects its core sequencing business to grow about 10% in 2019, but its array services — driven by direct-to-consumer demand — are now expected to fall by 14% on weak demand.

Unlock this article by subscribing to STAT+ and enjoy your first 30 days free!

GET STARTED

What is it?

STAT+ is STAT's premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.

What's included?

  • Daily reporting and analysis
  • The most comprehensive industry coverage from a powerhouse team of reporters
  • Subscriber-only newsletters
  • Daily newsletters to brief you on the most important industry news of the day
  • STAT+ Conversations
  • Weekly opportunities to engage with our reporters and leading industry experts in live video conversations
  • Exclusive industry events
  • Premium access to subscriber-only networking events around the country
  • The best reporters in the industry
  • The most trusted and well-connected newsroom in the health care industry
  • And much more
  • Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr.