DALLAS, June 23, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring biopharmaceutical company Affymax Inc. (Nasdaq:AFFY). The report includes financial, comparative and investment analyses, industry information and recent company news you need to know to make an educated investment decision.
The full report is available at: www.microstockprofit.com/lp/AFFY
Affyma Inc. (AFFY) is a biopharmaceutical company developing drugs to improve the treatment of serious and often life-threatening conditions. Its product candidate, Hematide (peginesatide), is designed to treat anemia associated with chronic renal failure. Hematide is a synthetic peptide-based erythropoiesis stimulating agent (ESA) designed to stimulate production of red blood cells. The Company completed treatment and follow up of patients with anemia associated with chronic renal failure in the Phase III clinical program for Hematide. Its Phase III clinical program included four open-label, randomized controlled clinical trials. Of these trials, two trials, called PEARL 1 and PEARL 2, were conducted in pre-dialysis patients and designed to evaluate the safety and efficacy of Hematide compared to darbepoetin alfa to correct anemia and maintain hemoglobin in a corrected range over time.
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In the report, the analyst notes:
"AFFY recognized revenue for the quarter ended March 31, 2010, of $34.7 million compared to $25.9 million for the quarter ended March 31, 2009. The increase in revenue was the result of increased collaboration revenue from its partnership with Takeda Pharmaceutical Company Ltd., under their 2006 collaboration for development of AFFY's compound, Hematide(TM).
"AFFY recently announced that it has received $30 million in development milestone payments from Takeda Pharmaceutical Company as part of the companies' exclusive global agreement to develop and commercialize Hematide(TM)/ peginesatide, AFFY's investigational drug for the treatment of anemia in chronic renal failure patients."
To read the entire report visit: www.microstockprofit.com/lp/AFFY
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