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The Company is a biopharmaceutical company developing novel peptide-based drug candidates to improve the treatment of serious and often life-threatening conditions.
I've been a skeptic on Affymax ever since they came out with disappointing phase III data for peginesatide, and it cost me a prized score leadership as peginesatide achieved FDA approval and then made surprising advances into the dialysis market. However, the stock has been in a downtrend since reaching a high of 27.5 in October. Last week, the decline accelerated apparently due to concerns about reduced Medicare reimbursements for dialysis units and weakness in peginesatide monthly sales trends. Instinct tells me that this is more fake out than a true sea change in momentum, but I don't have enough insight into the field to consider Affymax for a real buy.
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