Affymax Jumps Most in 16 Months on FDA Anemia-Drug Review
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Affymax Inc. surged the most in 16 months after U.S. regulators said the company’s experimental anemia medicine works as well as drugs sold by Amgen Inc. and Johnson & Johnson for patients with chronic kidney disease.
Affymax climbed 19 percent to $6.26 at 4 p.m. New York time in the biggest gain since August 2010. The drug, peginesatide, is “non-inferior” to Amgen’s Epogen and Aranesp and J&J’s Procrit, Food and Drug Administration staff evaluating whether the product should be approved for sale said in a report today.