February 14, 2013 at 13:44 PM EST
After Stock Plunges, Maybe Affymax News Isn't So Bad?
Investors didn’t like the news from drug maker Affymax (NASDAQ:AFFY) Thursday morning. The company’s pilot program for the injected treatment Omontys in kidney failure patients won’t be expanded at one of the largest chains of dialysis centers in the US according to a securities filing. The company’s shares plunged more than 30%. But the news from Affymax wasn’t that bad. A pilot program involving patients of Fresenius Medical Care (NYSE:FMS) is indeed being paused but a letter from the big dialysis company doesn’t indicate a negative reason for the action. In July Fresenius agreed to use Omontys to treat ...
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