FOCUS: nothing is changed. Today's PR actually good for Affymax in trying to get Takeda to pay up.
All the statement todays clearly says is wanting Takeda to spend a bigger shares of the investigation costs. Otherwise they are saying that investigation needs to continue (meaning they believe Omontys can be brought back to the market). The rest of today's PR just maneuvering to convince Takeda or else we'll do this or that.
They just laid off 75% of their people and you said nothing changed?
Are you saying this is a bluff and they will not lay off those workers?
Bankrupt is imminent, the question is how much asset do investors think this company has remaining.
WRONG. The company clearly says that they laying off to preserve funds to continue the investigation and get FDA's ok to return to the market. This is actually good news. The news would have been bad if they had said they don't think any further investigation would do any good, But they not only did not say that they are trying hard pushing their partner, Takeda of Japan, to pay a higher share of the investigation.
Why such huge emphasis on continuing investigation if after 3 weeks of looking into the matter hard they thought it was useless?
Affymax, by today's PR, obviously is convinced that through furthering this investigation that the drug can be returned to the market. This after 3 weeks and thousands of man-hour of looking into those allergic reactions. Isn't this a good news?