Affymax Crushed After Fatal Drug Recalled; Bleeding Cash, The Company Could Be Done For
Shares in pharma company Affymax are down more than 80% on Monday after the company recalled its anemia drug Omontys on reports of a lethal allergic reaction that has already caused three deaths, according to the Food and Drug Administration. The stock, which had seen elevated short interest, fell dramatically on massive volume, and there is a very real chance that the company in its current shape will cease to exist.
Shares in pharma company Affymax are down more than 80% on Monday after the company recalled its anemia drug Omontys on reports of a lethal allergic reaction that has already caused three deaths, according to the Food and Drug Administration. The stock, which had seen elevated short interest, fell dramatically on massive volume, and there is a very real chance that the company in its current shape will cease to exist.