Advanced Polymer regulatory update

CMTR filed a PMA with the FDA for the ChemTrak home access HIV test, which detects antibodies against HIV-1 without the assistance of a physician. The test requires the user to prick a finger with a lancet, and allow two drops of blood to be absorbed by a paper with an identification number. That paper is then mailed to the Sunnyvale, Calif., company for laboratory screening.

Separately, CMTR completed its acquisition of Coonan Clinical Laboratories Inc., issuing 450,000 new shares of CMTR and $400,000 in cash. CMTR, which closed at $3.00 on Friday, has 9.7 million shares outstanding. CMTR acquired the HIV home access test from Coonan. CMTR expects to take a $1.5 million charge in the first quarter related to the transaction. ...