Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Affymax, Inc.

Tue Apr 2, 2013 11:07pm EDT

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BENSALEM, Pa.--(Business Wire)--
Law Offices of Howard G. Smith announces that a class action lawsuit has been
filed in the United States District Court for the Central District of California
on behalf of all purchasers of the securities of Affymax, Inc. ("Affymax" or the
"Company") (NASDAQ:AFFY) between December 8, 2011 and February 22, 2013,
inclusive (the "Class Period"). 

Affymax is a biopharmaceutical company engaged in the development of drugs in
the United States for the treatment of serious and life-threatening conditions.
On February 23, 2013 Affymax and Japan-based Takeda Pharmaceutical Company
Limited (Takeda) issued a joint announcement of a nationwide voluntary recall of
OMONTYS (peginesatide) Injection. OMONTYS Injection is a treatment for anemia
due to chronic kidney disease in adult patients on dialysis. Affymax has a
strategic alliance agreement with Takeda to develop and commercialize OMONTYS.
According to the Company, the recall is related to "new postmarketing reports
regarding serious hypersensitivity reactions, including anaphylaxis, which can
be life-threatening or fatal." The Complaint alleges that defendants failed to
disclose that 0.02% of patients who were administered OMONTYS experienced fatal
anaphylaxis reactions. As a result of this false statement, Affymax stock traded
at artificially inflated prices during the Class Period. 

No class has yet been certified in this action. Until a class is certified, you
are not represented by counsel unless you retain one. If you purchased Affymax
shares during the Class Period, you have certain rights, and have until April
29, 2013 to move for lead plaintiff status. To be a member of the class you need
not take any action at this time, and you may retain counsel of your choice. If
you wish to discuss this action or have any questions concerning this Notice or
your rights or interests with respect to these matters, please contact Howard G.
Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888)
638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

Copyright Business Wire 2013