Key Developments: Affymax Inc (AFFY.PK)

AFFY.PK on OTC Markets Group

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25 Aug 2014
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Latest Key Developments (Source: Significant Developments)

Affymax board announces decision to dissolve the company
Tuesday, 24 Jun 2014 04:30pm EDT 

Affymax Inc:Announced that its Board of Directors has approved the liquidation and dissolution of the company.Subject to stockholder approval, and plans to distribute all available cash to its stockholders as soon as legally permitted and reasonably practicable after paying or making reasonable provision for all known and potential liabilities and other obligations of the company.Plan of liquidation and dissolution contemplates an orderly wind down of the Company's remaining business and operations.  Full Article

Affymax Inc and Takeda Pharmaceutical Company Limited announce termination of Omontys (peginesatide) Product Collaboration and License Agreement
Friday, 13 Jun 2014 04:15pm EDT 

Affymax Inc and Takeda Pharmaceutical Company Limited:Says that their Omontys (peginesatide) product collaboration and license agreement will terminate effective Sept. 10, 2014.  Full Article

Affymax Inc Announces Senior Leadership Change
Thursday, 6 Jun 2013 11:13pm EDT 

Affymax Inc announced that effective June 6, 2013, Herb Cross was terminated as Chief Financial Officer and an employee of the Company. The Company concurrently appointed Rich Brenner of as Chief Executive Officer, Weston Rose to serve as President and Mark Thompson to serve as Chief Financial Officer of the Company during the continuing restructuring of the Company.  Full Article

Pomerantz Law Firm Reminds Shareholders With Losses On Their Investment In Affymax Inc Of Class Action Lawsuit And Upcoming Deadline
Friday, 26 Apr 2013 01:36pm EDT 

Pomerantz Grossman Hufford Dahlstrom & Gross LLP announced that it has filed a class action lawsuit against Affymax, Inc. (Affymax or the Company) and certain of its officers. The class action filed in United States District Court, Central District of California, and docketed under C13-1025 SI, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Affymax between December 8, 2011 and February 22, 2013, both dates inclusive (the Class Period). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Complaint alleges that throughout the Class Period, Defendants issued materially false and misleading statements regarding the Company's business practices and financial results. Specifically, 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, reaching a high of $27.74 per share in intraday trading on October 17, 2012.  Full Article

Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In Class Action Lawsuit Against Affymax Inc
Friday, 12 Apr 2013 09:36pm EDT 

Law Offices of Howard G. Smith announced that investors of Affymax Inc have until April 29, 2013 to move the Court to serve as lead plaintiff in the securities fraud class action lawsuit filed in the United States District Court for the Northern District of California on behalf of a class (the Class) comprising all purchasers of Affymax securities between December 8, 2011 and February 22, 2013, inclusive (the Class Period). 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.  Full Article

Glancy Binkow & Goldberg LLP Announces Lead Plaintiff Deadline In Class Action Lawsuit Against Affymax Inc
Saturday, 6 Apr 2013 06:00am EDT 

Glancy Binkow & Goldberg LLP announced that purchasers of the securities of Affymax Inc between December 8, 2011 and February 22, 2013, inclusive (the Class Period), have until April 29, 2013 to file a motion with the Court to be appointed as lead plaintiff. The shareholder lawsuit was filed in the United States District Court for the Northern District of California. The Complaint alleges that throughout the Class Period the Company and certain of its executive officers issued materially false and misleading statements regarding the Company’s business and financial prospects. . 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.  Full Article

Harwood Feffer LLP Announces Investigation of Affymax Inc
Wednesday, 3 Apr 2013 04:52pm EDT 

Harwood Feffer LLP announced that it is investigating potential claims against the board of directors of Affymax Inc (Affymax or the Company), concerning whether the board has breached its fiduciary duties to shareholders. On February 25, 2013, the Company disclosed that it had initiated a voluntary recall of all lots of its anemia injection, OMONTYS. Company stock, which closed above $16.00 per share on the last trading day prior to the announcement, plunged to $2.42 at close on the next trading day. Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.  Full Article

Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Affymax Inc
Tuesday, 2 Apr 2013 11:17pm EDT 

Law Offices of Howard G. Smith announced 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 between December 8, 2011 and February 22, 2013, inclusive.  Full Article

Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Affymax Inc
Monday, 25 Mar 2013 05:02pm EDT 

Glancy Binkow & Goldberg LLP announced that a class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of a class comprising all purchasers of the securities of Affymax Inc. between December 8, 2011 and February 22, 2013. The Complaint alleges that throughout the Class Period the Company and certain of its executive officers issued materially false and misleading statements regarding the Company's business and financial prospects. 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 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.  Full Article

Pomerantz Grossman Hufford Dahlstrom & Gross LLP Reminds Shareholders With Losses On Their Investment In Affymax Inc Of Class Action Lawsuit And Upcoming Deadline
Sunday, 24 Mar 2013 06:13pm EDT 

Pomerantz Grossman Hufford Dahlstrom & Gross LLP announced that it has filed a class action lawsuit against Affymax, Inc. (Affymax or the Company) and certain of its officers. The class action filed in United States District Court, Central District of California, and docketed under C13-1025 SI, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Affymax between December 8, 2011 and February 22, 2013, both dates inclusive of (the Class Period). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The Complaint alleges that throughout the Class Period, Defendants issued materially false and misleading statements regarding the Company's business practices and financial results. Specifically, defendants failed to disclose that 0.02% of patients who were administered Omontys experienced fatal anaphylaxis reactions. On February 23, 2013, Affymax announced that the U.S. Food and Drug Administration (FDA) was requiring a total recall of the drug due to reports of anaphylaxis, with the FDA calling it a serious and life-threatening allergic reaction in the agency's statement.  Full Article

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