SA News • Nov. 28, 2014
Nov. 28, 2014, 11:01 AM
- Bankrupt biotech Affymax (OTCPK:AFFY +127.6%) jumps on an 8x surge in volume as traders move to capture the $0.05 dividend payable to shareholders of record December 2, 2014.
- Previously: Affymax declares cash distribution, names new chief
- Previously: The end for Affymax
Nov. 26, 2014, 4:29 PM
- Affymax (OTCPK:AFFY) declares a special cash distribution of $0.05 per share to shareholders of record December 2, 2014. Also, The BOD appoints Jonathan M. Couchman as a Class I director and President & CEO of the firm. The remaining members of the board resign.
- The company will continue its evaluation of strategic alternatives.
- Previously: The end for Affymax
Jul. 31, 2014, 5:32 PM
Jun. 24, 2014, 6:28 PM
- With no hope for a return to the market for Omontys, Affymax's (AFFY) BOD approves the liquidation and dissolution of the company, subject to shareholder approval. It will distribute all available cash as soon as legally possible. The total amount to be distributed appears to be ~$4M which equates to only ~10 cents per common share (~37.5M shares outstanding).
- The BOD intends to call a special meeting of shareholders to vote on the matter and will file all proxy materials with the SEC as soon as feasible.
Jun. 16, 2014, 10:01 AM
- Shares of Affymax (AFFY -60%) crater on high volume in response to its announcement of the termination of its Omontys collaboration with Takeda.
Jun. 13, 2014, 8:57 PM
- The Omontys (peginesatide) collaboration between Affymax (AFFY -4.5%) and Takeda Pharmaceutical Company will terminate on September 10, 2014. AFFY will not exercise its rights regarding the drug's NDA and Takeda will work with the FDA to withdraw the application.
- In February 2013 the companies recalled all lots of the drug due to an abnormal number of hypersensitivity reactions, some fatal. AFFY has struggled since then. Shares have lost 98% of their value since trading above $27 in October 2012.
May. 14, 2014, 4:28 PM
- Affymax (AFFY -2.3%) settles the securities class action suit, Bartelt vs Affymax, Inc. et al., Case No. 3-13-CV-01025 initially filed on February 27, 2013.
- The settlement payment of $6.5M resolves the case and dismisses all claims against the defendants. The company's insurance carrier paid the claim per its insurance policy.
Aug. 29, 2013, 3:17 PM
- It's been another eventful session for shares of Affymax (AFFY +4.6%) after Seeking Alpha contributor EXPstocktrader helped the stock's cause by advising investors not to "confuse the word 'recall' to mean canceled or revoked" in reference to the company's anemia drug Omontys.
- The shares were trading up around 10% before SA contributor Alpha Exposure (whose article appears to have contributed to yesterday's rout) penned a fresh piece reiterating the position that "Omontys is unlikely to be approved to return to market and that Affymax's stock will probably be worthless."
- AFFY pared gains midday and is now trading moderately higher, but still off considerably from Monday's close.
- Yesterday: AFFY tumbles
Aug. 28, 2013, 3:42 PM
- Shares of Affymax (AFFY -12.4%) — which ran square into a brick wall earlier this year after the recall of the anemia drug Omontys — sell-off sharply as SA contributor Alpha Exposure calls the stock "likely worthless" in an article published around midday.
- "Too many stars would have to align" for the drug to make a comeback, Alpha Exposure says, before listing seven steps which would define "the road back."
- The author lists a whole host of other concerns and calls the bull case "far fetched."
- By contrast, SA contributor EXPstocktrader — who, according to one article has spent "120-150 hours" researching "this special situation" — is "highly confident that Omontys will return to the market under a new label based on the fact that 3 fatalities out of 25,000 is considered statistically insignificant."
Jun. 12, 2013, 12:45 PM
Jun. 10, 2013, 12:45 PM
Jun. 7, 2013, 12:45 PM
Jun. 5, 2013, 11:12 AMAffymax (AFFY -3.8%) takes a bit of mid-day pressure ahead of its pending delisting from the Nasdaq tomorrow. The company plans to list on the OTCBB. The company was notified by regulators late last week that it was operating as a "public shell" and following the voluntary recall of Omontys, it no longer has an operating business. | 1 Comment
Jun. 3, 2013, 12:48 PM
Jun. 3, 2013, 12:43 PMAffymax (AFFY -19.3%) will be delisted by Nasdaq at the close of Wednesday's trading, after the biotech developer declined to appeal a ruling that "the company no longer has an operating business" and is instead a "public shell" due to the recall of its anemia drug Omontys. The company also announced that it was paying out $6M to two suppliers of the drug's ingredients. | Comment!
Jun. 3, 2013, 9:13 AM
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