Affymax Considers Bankruptcy As Omontys Investigation Continues
This article was originally published in The Pink Sheet Daily
Affymax cuts staff in order to conserve the little cash it has left in its coffers, which will be needed to pay down debts and continue looking into safety issues surrounding its sole commercial product – an investigation that may never be concluded because the company lacks resources.
You may also be interested in...
Starting in 2006, Eisai embarked on a bold campaign to reorient the company around cancer – with an emphasis on externally sourced innovation – that put aggressive business development front and center. Now as Eisai prepares to launch what may be its most transformative in-licensed product, the weight-loss therapy Belviq, signs of trouble have appeared in its trophy cancer franchise.
Omontys (peginesatide) launches for chronic kidney disease patients on dialysis, while non-dialysis patients were not included in the labeling due to CV event risk. Pricing negotiations will commence following the March 27 approval.
The companies plan to submit a BLA for colorectal cancer agent panitumumab later this week.