Affymax says considering all alternatives, including bankruptcy

theflyonthewall.com

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.

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