Affymetrix Gene-Expression Reagents Win FDA Clearance; Shares Up
May 09 2011 - 9:34AM
Dow Jones News
Affymetrix Inc. (AFFX) said it won clearance from the U.S. Food
and Drug Administration for the addition of new gene expression
reagents as accessories to its genetic analysis tools.
Shares were up 6.4% at $6.55 in recent premarket trading. The
stock through Friday's close is up 22% this year.
The company, whose products are used by pharmaceutical,
diagnostic and biotechnology companies, is aiming to generate at
least a quarter of its 2011 revenue from new markets, including
cytogenetics and cancer.
Affymetrix in April swung to a small first-quarter profit on
lower expenses, though revenue declined more than Wall Street
expected.
-By Tess Stynes, Dow Jones Newswires; 212-416-2481;
Tess.Stynes@dowjones.com
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