Boston, MA 06/10/2013 (wallstreetpr) – The share prices of Affymax Inc. (OTCMKTS:AFFY) had declined by 9.01 percent to close at $1.01 per share for the end of last trading session on Friday. The shares of the company had traded with an intraday low price of $0.98 per share and an intraday high price of $1.18 per share. The shares of Affymax Inc. (OTCMKTS:AFFY) had recorded 52 week low price level of $0.78 per share and 52 week high price level of $27.74 per share.
Affymax Inc. (OTCMKTS:AFFY) is primarily engaged in the development and commercialization of drugs to be used in the treatment of serious and life threatening diseases. The principal product candidate of the bio pharmaceutical company is peginesatide, which is used for the treatment of anemia in chronic kidney disease patients. The development and commercialization of this principal drug candidate of Affymax Inc. (OTCMKTS:AFFY) is carried out through a worldwide collaboration with Takeda Pharmaceuticals Inc.
Determination letter from the exchange
It had recently been informed that Affymax Inc. (OTCMKTS:AFFY) had received a determination letter from the NASDAQ which means the company would thereby be delisted from the stock exchange. This determination letter had been served to the bio pharmaceutical company owing to the reason that Affymax Inc. (OTCMKTS:AFFY) does not have any operating business at present. With the recent withdrawal of the company’s only drug, Omontys from the market, Affymax Inc. (OTCMKTS:AFFY) is now left with no drug to sell in the market.
This had resulted in the determination letter for which Affymax Inc. (OTCMKTS:AFFY) does not have any plans of applying a reversal of the decision to delist from the exchange. The bio pharmaceutical company presently holds 37.49 million shares outstanding in the market with an institutional ownership of 55 percent of its holdings.
The average trading volume of Affymax Inc. (OTCMKTS:AFFY) is at 10.05 million shares per day.
