A Couple Biotechnology Stocks trading on the NASDAQ: AFFY and TEAR

Affymax, Inc. (NASDAQ:AFFY) has traded as high as $6.59 during today’s trading session and last traded at $6.35 for a gain of 20.95% from Friday’s close! AFFY shares have traded as high as $8.50 over the past 52 weeks, which is over 25% off that high at last traded stock price. Get my next ALERT 100% FREE

Affymax, Inc. is a biopharmaceutical company committed to developing novel drugs to improve the treatment of serious and often life-threatening conditions. Affymax’s product candidate, peginesatide (formerly known as Hematide™), has been investigated in Phase 3 clinical trials for the potential treatment of anemia associated with chronic renal failure.

TearLab Corporation (NASDAQ:TEAR) has traded as high as $2.25 during today’s trading session and last traded at $1.60 for a gain of 29% from Friday’s close! TEAR shares have traded as high as $2.90 over the past 52 weeks, which is nearly 45% off that high at last traded stock price.

TEAR announced today the U.S. Food and Drug Administration has indicated through correspondence that, based on a supervisory review of the Company’s appeal, the Agency has granted its petition for a waiver under CLIA for the TearLab Osmolarity System. Upon the Company’s submission of labeling acceptable to the Agency, the CLIA waiver will be issued.

“This marks the achievement of our third and final major milestone,” commented Elias Vamvakas, TearLab’s Chief Executive Officer. “We believe that in order for the TearLab Osmolarity System to become widely adopted, it is essential that it be accessible at the point-of-care. Now, with the CLIA waiver obstacle overcome, this groundbreaking test is free to start growing to its potential.”

The TearLab Osmolarity System uses a novel lab-on-a-chip approach that requires less than 50 nL of tear fluid in order to measure tear Osmolarity. The TearLab Osmolarity System eliminates the challenges that previously prevented point-of-care Osmolarity testing. The TearLab System can produce a sample-to-answer result in less than 30 seconds.

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