AFFIX...
This information is from the Bull Market Portfolio...I am probably one of the very few people who do not like the companies dealing with genetic issues. I am certain that science will move forward and provide some wonderful new insights that will be helpful to humanity. However, I would think that these companies have some economic uncertainty. If a company came up with a specific "cure" or use of a gene, public pressure would be intense to have this available to everyone at a low cost. The morality issues that some people raise about using human genes is incredible. Do you know that the State of California has a Governor's Select Advisory Committee on Human Cloning? (The first state that I know of to have such a committee.) Some of the members of this Committee are brilliant and I'm sure their guidelines will not affect any of these companies...however it has brought to my attention the very controversial nature of cloning, and using human genes to fight specific illnesses. (I'm all for correctly using human genes...but there are numerous very vocal people against using any type of gene therapy.)
Libbyt
"THE BULL MARKET REPORT
DRUG AND BIOTECH PORTFOLIO"
MID CAP BIOTECH COMPANIES
AFFYMETRIX, INC. (NASDAQNM:AFFX)
Affymetrix manufactures and sells instrumentation for acquiring, analyzing, and managing complex genetic data, based on
proprietary GeneChip(R) technology. This is the type of technology that will help to bring rapid genetic-based diagnosis and
treatment into everyday use in the future. In addition to manufacturing devices, the company holds valuable intellectual
property and can increase revenues through licensing of patents. In the first half of 1999, product sales increased 150% over
1998 levels. AFFX is a proven leader in the field and has consistently developed highly innovative technology that helps to
drive the biotechnology field. Affymetrix may become a gorilla in the biotechnology instrumentation arena.
Excerpts from the company's Q2 1999 financial report: For the quarter ended June 30, 1999, revenue increased 96% to $22
million, up from revenue of $11 million for the quarter ended June 30, 1998. For the first six months of 1999, revenue
increased 90% to $40 million, up from revenue of $21 million for the first six months of 1998. The increase in product sales
during the quarter and six months of 1999 compared to the same periods in 1998, resulted from the growth in placements of
GeneChip(R) systems together with the accompanying sales of GeneChip probe arrays and related products and subscription
fees. The company reported a net loss of $7.8 million, or $0.32 per share for the quarter ended June 30, 1999, compared to a
net loss of $6.6 million, or $0.29 per share, for the same period in 1998.
Employees: 321
Affymetrix, Inc.
3380 Central Expressway
Santa Clara, CA 95051
Telephone: 408.731.5000
Fax: 408.481.0422
Website: www.affymetrix.com
Key Data:
Market Capitalization: $2.5 billion
Shares Outstanding: 24 million
Float: 15 million
Institutional Ownership: 9%
1999 Projected EPS: -$1.10
2000 Projected EPS: -$0.25
5 Year Projected Annual Growth Rate: 55%
Last update: Nov. 1999
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