Affymax, Inc. (NASDAQ:AFFY)
The Company is a biopharmaceutical company developing novel peptide-based drug candidates to improve the treatment of serious and often life-threatening conditions.
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I've had my shares of ups and downs with Affymax in CAPS, although fortunately my only real bet was a strong profit on one of the first dead cat bounces after the Omontys meltdown. Lately my preferred move has been the red thumb, as short-term traders and stock manipulators keep inducing spikes in the stock with the gleeful assistance of Seeking Alpha. The bottom line here is that events which unfold continue to be consistent with a plan for liquidation of the company and liabilities will almost certainly outweigh assets, leaving zero for stockholders.
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VV Worst Stocks > 1
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Drug will B reinstated
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wsj online report
http://bit.ly/YWu6XW
these guys were rotten to the core
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Price Target: $8
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High risk situation, however the price is more like a call option.
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Their anemia drug partnered with takeda will show disappointing sales numbers with a slow start.
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It might double or even triple if the drug gets approval and sell goes well.
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Bet against the FDA advisory panel.
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Spec Play Amass a fortune motley
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Hematide will get approved in the dialysis setting where its phase 3 clinical trials showed a trend toward superiority when compared with aranesp. The dialysis market is much larger than the non-dialysis market
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pending fda approval, good cash position, unique technology
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This company is dead.
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competitive product to Amgen's EPO on the horizon.
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the co hasnt had any major catalysts for a while since its in the middle of a moderately large phase iii program. as the market begins to remember that affys pivotal data is coming up it will also recall that the market for their drug hematide is absolutely massive.
there are some caveats to the large mkt opp (jnj litigation, potential generic biologics legislation, and a stagnant market for ESAs), but despite this the co remains dramatically undervalued, particularly considering their $150m cash balance (which mgmt has said will not be sufficient to carry them thru to profitability tho).
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MAJOR BUY: 9 per share, i am buying when this company hits nine dollars,
good price at 9 per share, can not go wrong, i am reaching for a nine dollar per share price for June.
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IPO'd in 12/06. A great to superior market for the product, going into FDA stage 3. Once it is ok'd for sale it will reduce the dosage for anemia/cancer patients with kidney/dialysis related conditions by cutting treatment at least in half.
The potential is enormous with the market growing everyday.
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Affymax is a biopharmaceutical company creating peptide-based drugs to improve the treatment of serious and often life-threatening conditions. The company was spun out from GlaxoSmithKline in 2001. The company does not have any approved product in its portfolio. Its lead product candidate Hematide is a synthetic peptide-based erythropoiesis-stimulating agent (ESA) in clinical development for anemia due to chronic kidney disease (CKD) and cancer. Besides this it has number of products in pre clinical phase for neutropenia, tissue protection and cancer.
The company is yet to break-even. However the company is in nascent stage and thus one can form a view on this company on the basis of its financial performance. The most relevant factor for such stocks would be the commercial potential of its pipe-line.
Affymax’s lead product candidate Hematide targets multi-billion-dollar worldwide EPO (erythropoietin) market for treating anemia. As a matter of fact The EPO market for anemia valued at $10.0 billion plus is the largest and most lucrative market in biotech at roughly plus worldwide and still growing. The drug has shown clear efficacy in Phase II trials and has the competitive advantage of less frequent dosing. The company has also roped in Takeda to market its product.
This budding company also has some issues to grapple with the chief among them would be arbitration with Johnson and Johnson to determine ownership of several key Hematide patents. In the event of an unfavorable outcome the company might have to share or lose the rights over patents.
The company’s valuation seems rich. It is true that its pipeline targets lucrative market opportunities but they will take some time to fructify. Hemadite for anemia is expected to enter Phase III in second half of 2007. The macro economic environment is such that people prefer stable cash flows and proven stories. Thus these types of stories which require people to bet aggressively on the future might not find favor in today’s market. Hence the company might under perform.
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