Friday, March 8, 2013

Affymax seeing volatility this morning, currently going back positive

$AFFY Affymax seeing volatility this morning,

      Shares of Affymax have seen heightened volatility this morning on heavy
volume. There was a rumor earlier that a representative from Fresenius (a
dialysis company that is a large potential client) made positive comments about
Affymax's OMONTYS, however, these rumors have been proven false. A Reuters
reporter said that Takeda said it is committed to working with Affymax to
understand the root cause of the OMONTYS recall but this is no surprise given
that Takeda is Affymax's partner for the drug. Yesterday's sharp move higher is
still difficult to explain given that no new material information has come to
light. Affymax is scheduled to report earnings in mid-March so it is possible
that the company could provide an update regarding the investigation of the
three patients who died after receiving OMONTYS in February.

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