The last of the US financial results for the third quarter of 1993 are a mixed batch, with signs of improvement for some companies and losses for others. Ivax made strong advances in the nine-month period.
- Affymax saw a number of developments during the third quarter of 1993. In addition to completing the Affymetrix financing (Marketletters passim), the company received its second US patent, "polymer reversal on solid surfaces," which relates to methods for generating and screening diverse chemical structures, and presented its newest technology, Encoded Synthetic Libraries, at a number of important scientific meetings. ESL is a technology used to synthesize and screen very large collections of synthetic compounds on microscopic beads, and can be used to create a variety of molecules including peptides, oligonucleotides and small molecules.
In the third-quarter period, Affymax spent $8 million on R&D, up 49% on the like, year-earlier period. The increase was attributed to the number and scope of R&D programs, and related facilities and personnel costs.
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