It's a bad day for Affymax (AFFY), with the stock plunging 64% and hitting a new year low after...

|By:, SA News Editor

It's a bad day for Affymax (AFFY), with the stock plunging 64% and hitting a new year low after announcing late Monday that it's slashing 75% of its workforce and considering filing for bankruptcy protection. The company is hiring a bank to look at strategic options, including a possible sale, a restructuring, or a winding down, but many are concerned that it may be too little, too late.