Affymax Rises the Most Since 2006: San Francisco MoverElizabeth Lopatto
Affymax Inc. rose the most ever in New York trading, about 10 days after the drugmaker recalled its anemia treatment Omontys because of reports three people had fatal reactions to the medicine.
Affymax rose 54 percent to $3.52 at the close, the biggest one-day increase since the stock began trading publicly in December 2006. The shares of the Palo Alto, California-based company have dropped 67 percent in the past 12 months.
On Feb. 25, Affymax fell the most ever after recalling Omontys, which is used by kidney dialysis patients. Affymax and its partner Osaka, Japan-based Takeda Pharmaceutical Co. at the time said they were analyzing data from the three patients to find a cause for the reactions.
Sylvia Wheeler, a spokeswoman for the company, didn’t return telephone calls seeking comment.