Nanogen to Consolidate Operations of Point of Care Manufacturing Operations

Nanogen is taking steps to reduce costs and improve margins by consolidating its point of care manufacturing operations. The cost-cutting effort will transfer operations in Toronto, CA to the company’s San Diego facility; the move should be complete by year-end. According to estimates, the consolidation will eliminate 30 jobs and reduce overall costs, starting in 2009, by approximately $3 million. For the quarter ended March 31, 2008, Nanogen’s loss from operations was $8.0 million, compared t