Illumina's $169.9 million in cash and equivalents enough for 'foreseeable future'

By Lisa Kerner

Charlotte, N.C., Oct. 30 - Illumina, Inc. said it had cash, cash equivalents and short-term investments of $169.9 million as of Oct. 1, according to a 10-Q filing with the Securities and Exchange Commission.

Illumina generated cash of $30.2 million from operating activities, and financing activities provided $105.5 million in the nine-month period.

The San Diego biotechnology company believes its current cash and cash equivalents and income from operations will be sufficient to fund its anticipated operating needs for the foreseeable future, barring unforeseen circumstances.

While the company currently has no material commitments for capital expenditures, its future capital requirements depend in part on the successful resolution of legal proceedings with Affymetrix, Illumina's ability to commercialize SNP genotyping and gene expression systems, progress in research and development programs and the success of the company's collaboration with Invitrogen.

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