Faruqi & Faruqi, LLP Encourages Investors Who Suffered Substantial Losses
Investing In Affymax, Inc. To Contact The Firm
NEW YORK, March 1, 2013
NEW YORK, March 1, 2013 /PRNewswire/ --Faruqi & Faruqi, LLP, a leading
national securities law firm, is investigating potential securities fraud at
Affymax, Inc. ("Affymax" or the "Company") (NASDAQ: AFFY).
The investigation focuses on whether the Company and its executives violated
federal securities laws by failing to disclose that: (1) 2% of patients
taking Affymax's kidney treatment drug Omontys were experiencing
hypersensitivity reactions resulting in anaphylaxis, a serious and
life-threatening allergic reaction; and (2) 0.02% of those taking 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. According to the FDA, "serious and fatal" hypersensitivity
reactions had been reported in some patients within 30 minutes of receiving
their first doses of the drug by intravenous injection. On this news, the
price of Affymax stock declined by more than 85%, closing at $2.42 per share,
down $14.10 per share from the prior night's close.
Request more information now by clicking here: www.faruqilaw.com/AFFY. There
is no cost or obligation to you.
If you invested in Affymax stock or options between December 8, 2011 and
February 22, 2013 and would like to discuss your legal rights, visit
www.faruqilaw.com/AFFY. You can also contact us by calling Richard Gonnello
or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to email@example.com or firstname.lastname@example.org.
Faruqi & Faruqi, LLP also encourages anyone with information regarding
Affymax's conduct to contact the firm, including whistleblowers, former
employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is
Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter. We welcome the
opportunity to discuss your particular case. All communications will be
treated in a confidential manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
SOURCE Faruqi & Faruqi, LLP
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