LOS ANGELES -- (Business Wire)
Glancy Binkow & Goldberg LLP announces 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 (the “Class”) comprising all
purchasers of the securities of Affymax, Inc. (“Affymax” or the
“Company”) (NASDAQ:AFFY) 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 (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.
No class has yet been certified in this action. Until a class is
certified, you are not represented by counsel unless you retain one. If
you purchased Affymax shares during the Class Period, you have certain
rights, and have until April 29, 2013 to move for lead plaintiff status.
To be a member of the class you need not take any action at this time,
and you may retain counsel of your choice. If you wish to learn
more about this action or have any questions concerning 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 http://www.glancylaw.com.
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
Source: Glancy Binkow & Goldberg LLP
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