If you have purchased shares of Affymax, Inc. (NASDAQ:AFFY) between December 8, 2011 and February 22, 2013, call 1-800-934-2921 right now to protect your rights.
Filing deadline: 04/18/2013
The investor filed this lawsuit for the benefit of any person or organization that purchased or acquired Affymax, Inc. (NASDAQ:AFFY) between the dates of December 8, 2011 and February 22, 2013. The complaint states that some of the company’s officers and directors made assertions that were both fraudulent and deceptive about how they were running the business and the health of the company’s finances. These statements that were made between December 8, 2011 and February 22, 2013 allegedly broke the laws outlined in the Securities Exchange Act of 1934.
Affymax and another company by the name of “Takeda” worked together to bring the OMONTYS injection to the public. The injection was meant for adults on dialysis who were suffering from anemia that resulted from chronic kidney disease.
Affymax, Inc. saw the company’s stock price per share increase in October of 2012. On January 7, 2012, the price was recorded at around $7 a share, and it reached a high of $26.75 a share in October.
The two companies Affymax, Inc. and Takeda jointly announced on February 23, 2013 that they were recalling the OMONTYS injection on a nationwide basis.
According to Affymax, Inc., the recall was necessary because of what was written in the company’s post-marketing reports. In these documents, the companies learned that the OMONTYS injection caused serious reactions in some patients, including the potentially fatal condition anaphylaxis.
Until the recall, 0.02 percent of the patients who received their first injections experienced a fatal reaction. Those who had a hypersensitive reaction experienced it within a half four of taking OMONTYS.
The FDA was notified that three patients receiving the injections died of anaphylaxis. Others required hospitalization or needed immediate medical treatment. Doctors were successful in resuscitating some of these patients, but this is not necessarily always the outcome.
On February 25, 2013, shares of Affymax, Inc. (NASDAQ:AFFY) stock reached a low of $2.34 a share.
The stock’s 52-week high was $27.74 a share. On February 27, 2013, the closing price was only $2.67 a share.
Own shares of Affymax, Inc. (NASDAQ:AFFY) ? Contact us to protect your rights.
If you have purchased shares of Affymax, Inc. (NASDAQ:AFFY) between December 8, 2011 and February 22, 2013, call 1-800-934-2921 right now to protect your rights. Complete the form on this page or call attorney Bill Kyros at 1-800-934-2921 right now to protect your rights.