Shares of Affymetrix dropped 14.2 percent for the five-day trading period ended Tuesday. The firm’s shares fell 9.6 percent on Tuesday alone after it said it had filed a shelf registration to offer $250 million of senior convertible notes (see Briefs).
Canaccord Adams analyst Matthew Scalo speculated in an interview with Reuters that Affymetrix may be looking for a “sizeable acquisition.”

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