Affymax last night disclosed that it is commencing a process to
notify substantially all remaining employees of estimated dates of separation, including named executive officers Anne-Marie Duliege and Karin Walker. The company said the recall of Omontys has "severely harmed the company’s business, financial condition, and prospects as a going concern." The recall has also limited the company's access to funds, it stated. Affymax said it may be unable to continue its operations or to defend the existing and potential future litigation. It added that it may continue to explore various strategic alternatives, including a sale of the company or its assets or a corporate merger. Affymax also stated that it is considering all possible alternatives, including further restructuring activities, wind-down of operations or bankruptcy proceedings.
Do you even know what shorting means? Apparently not. You don't "dump" shares when you cover, you buy them. You make money when the price goes down, not up like it is today. If the company goes BK, that is the perfect scenario if your short- you cover at zero.