Affymax may file for bankruptcy; cuts 75 percent of workforce

By Zeba Siddiqui (Reuters) – Drugmaker Affymax Inc said it was considering selling itself or filing for bankruptcy among a range of alternatives, as it struggles to stay afloat following the recent recall of its sole commercial product, the anemia drug Omontys. Affymax’s shares slumped nearly 57 percent to $1.27 in extended trade on Monday, not far above the $1.00 minimum average trading price required to stay listed on the Nasdaq. …