Affymax may consider filing for bankruptcy; cuts workforce by 75 percent

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Affymax may consider filing for bankruptcy; cuts workforce by 75 percent

(Reuters) - Drug maker Affymax Inc said it may consider selling itself or filing for bankruptcy among a range of strategic alternatives as it struggles with the recent recall of its sole commercial product, the anemia drug Omontys. Shares of the company slumped over 50 percent to $1.34 in extended trade on Monday after being halted earlier. Affymax also fired its chief commercial officer and slashed about 230 jobs, or about 75 percent of its workforce, as part of a plan to cut costs. ...

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