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Jones Soda Co. (JSDA) Message Board

  • basehit123 basehit123 Oct 2, 2013 7:57 PM Flag

    JSDA or AFFY... Where U Puttin Your Money?

    So where you wanna gamble? "Sugar water" or fatal allergic reactions? It's all or nothing with AFFY. You still sayin AFFY Nutty? I'm not goin to hold it against ya, but it was ur gift to us all about 6 months ago, and I guess it still could be? But could BK happen before binary event happens, and even before JSDA! Or maybe Blackie's the smart one, all in with Electronic Cigarettes!

    March 2013
    Big cuts were inevitable at Affymax. Palo Alto, CA-based AFFY said today that the company is cutting 230 people from its payroll, about 75 percent of its workforce.

    The layoff announcement was the first press release Affymax has made since it disclosed disastrous news on Saturday, Feb. 23. Affymax and its partner, Japan-based Takeda Pharmaceuticals, said that day that they voluntarily pulled peginesatide (Omontys) off the U.S. market after learning the drug was linked to a series of severe, and sometimes fatal, allergic reactions. The drug was Affymax’s sole marketed product. Affymax provided no further update today on the status of the medical investigation that’s attempting to find out what went wrong. “While this decision was extremely difficult, aligning and managing our limited resources around our product investigation is our most important priority,” said CEO John Orwin.

    The company said it intends to hire a strategic advisor to help it consider various business alternatives, such as a sale of the company, or its remaining assets. Today’s brief statement didn’t attempt to suggest that a buyer is likely to come along and scoop it up. Affymax still hasn’t reported its fourth-quarter financial results, but in its most recent quarterly report, it said it had $100 million of cash in the bank as of Sept. 30. The company is considering all possible alternatives, including further restructuring activities, wind-down of operations or even bankruptcy proceedings,” Affymax said.

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JSDA
0.43+0.02(+4.88%)Apr 17 3:58 PMEDT

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