Glancy Binkow & Goldberg LLP Announces Investigation of Affymax, Inc.
LOS ANGELES -- February 25, 2013
Glancy Binkow & Goldberg LLP announces that it is investigating potential
claims on behalf of purchasers of the securities of Affymax, Inc. (“Affymax”
or the “Company”) (NASDAQ:AFFY) concerning possible violations of federal
securities laws. The investigation focuses on allegations that certain
statements issued by Affymax were false and misleading regarding the Company’s
business and financial prospects.
Affymax is a biopharmaceutical company engaged in the development of drugs for
the treatment of serious and life-threatening conditions in the United States.
The investigation is related to a February 23, 2013 joint announcement, issued
by Affymax and Japan-based Takeda Pharmaceutical Company Limited (Takeda), 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. 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.” Affymax has a strategic
alliance agreement with Takeda to develop and commercialize OMONTYS.
Following the announcement, Reuters reported that on February 24 the U.S.Food
and Drug Administration alerted healthcare providers about the recall, and
said it had received 19 reports of anaphylaxis from dialysis centers in the
United States. As a result of this news, shares of Affymax plummeted as much
as 85 percent in intraday trading on February 25, 2013.
If you purchased Affymax shares, if you have information or would like to
learn more about these claims, or if you wish to discuss these matters or have
any questions concerning this announcement or your rights or interests with
respect to these matters, please contact Michael Goldberg, Esquire, of Glancy
Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles,
California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224,
by e-mail to firstname.lastname@example.org, or visit our website at
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CA
(310) 201-9150 or (888) 773-9224
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