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LOS ANGELES -- (Business Wire)
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 shareholders@glancylaw.com,
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.
Contacts:
Glancy Binkow & Goldberg LLP, Los Angeles, CA
Michael Goldberg
(310)
201-9150 or (888) 773-9224
shareholders@glancylaw.com
www.glancylaw.com
Source: Glancy Binkow & Goldberg LLP