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AFFY, down but not out!

|Includes: AFFY, Amgen Inc. (AMGN)

News Release!

PALO ALTO, Calif., Jun 22, 2010 (BUSINESS WIRE) -- Affymax, Inc. (Nasdaq:AFFY) today announced that it has received $30 million in development milestone payments from Takeda Pharmaceutical Company as part of the companies' exclusive global agreement to develop and commercialize Hematide(NYSE:TM)/peginesatide, Affymax's investigational drug for the treatment of anemia in chronic renal failure patients. The payments were triggered by the achievement of database lock in the PEARL and EMERALD Phase 3 clinical trials, which evaluated Hematide to treat anemia in chronic renal failure patients.

GREAT investment here guys. Worst case scenario I still say is that they received approval for the dialysis patient application and have to rerun an abbreviated non-dialysis patient trial perhaps at a lower dose (since efficacy was very good) to bring safety profile up.

Disclosure: Long