EXHIBIT 99.2
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                    [LETTERHEAD OF A.G. EDWARDS & SONS, INC.]

October 9, 2002

Acacia Research Corporation
500 Newport Center Drive
Newport Beach, California 92660

     Re:  CONSENT TO INCLUDE FAIRNESS OPINION IN FORM S-4 REGISTRATION STATEMENT
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Dear Sirs:

We hereby consent to the inclusion of and reference to our opinion, dated April
17, 2002, in the prospectus included in the Registration Statement on Form S-4
(the "Registration Statement") filed by Acacia Research Corporation, a Delaware
corporation ("Acacia Research"), related to the offer and sale of shares of a
proposed new class of Acacia Research common stock in connection with the merger
of CombiMatrix Corporation, a Delaware corporation, with and into a wholly owned
subsidiary of Acacia Research. In giving the foregoing consent, we do not admit
that we come within the category of persons whose consent is required under
Section 7 of the Securities Act of 1933, as amended (the "Securities Act"), or
the rules and regulations promulgated thereunder, nor do we admit that we are
experts with respect to any part of such Registration Statement within the
meaning of the term "experts" as used in the Securities Act or the rules and
regulations promulgated thereunder.

Very truly yours,

A.G. Edwards & Sons, Inc.


By:/s/ SCOTT A. GILL
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   SCOTT A. GILL
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   Director - Investment Banking