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Affymetrix Shares Down 9 Percent After Warning of Slowdown in 500K Array Market

NEW YORK, Feb. 28 (GenomeWeb News) - Affymetrix shares were down 9.1 percent,or $3.58, at $35.77 in afternoon trade amid general weakness in drug stocks and following an SEC filing in which the company said that "the market for whole genome mapping products has temporarily slowed."

 

In the filing, Affymetrix announced the opening of a new probe array manufacturing facility in Singapore. It also reported that recent production yields on its Mapping 500K array set "consistently exceed 75 percent" in its Sacramento,Calif., facility and that it expected to meet customer demand for the product in 2006.

 

However, the company noted that "since many customers complete projects before reordering, this may affect the timing of the 500K product reorders" and that these "factors ... may increase the risk around our expected revenue targets for the Mapping 500K Array Set."

 

Affymetrix did not announce a revenue target for the 500K, and has not in the past.

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