Affymax (AFFY) Could Run Out of Cash By Q2

April 2, 2013 1:01 PM EDT
Get Alerts AFFY Hot Sheet
Price: $0.06 --0%

Rating Summary:
    6 Buy, 4 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Shares of struggling drug maker Affymax (Nasdaq: AFFY) are back under pressure on Tuesday following the release of the company's Q4 earnings report. In February the company was forced to recall its Omontys due to safety concerns. Since then the stock has been declined considerably.

In a research note today, Piper Jaffray analyst Ian Somaiya pointed out that Affymax has no timeline for a re-introduction of Omontys and may run out of cash as early as Q2.

Share of Affymax trade down 8 percent, but are off session lows.

Piper Jaffray has a Neutral rating on Affymax, Inc.

For an analyst ratings summary and ratings history on Affymax, Inc. (NASDAQ: AFFY) click here. For more ratings news on Affymax, Inc. click here.

Shares of Affymax, Inc. closed at $1.36 yesterday.

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