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Affymax 3Q loss narrows partnership payments
PALO ALTO, Calif. (AP) - Biotechnology company Affymax Inc. said Wednesday its third-quarter loss narrowed on a boost in payments from its partner Takeda Pharmaceutical on the anemia drug candidate Hematide.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
The company lost $18.4 million, or 97 cents per share, compared with a loss of $26.2 million, or $1.72 per share, during the same period a year earlier. Revenue rose 35 percent to $29.2 million from $21.6 million, boosted by its development partnership for Hematide.
Analysts polled by Thomson Reuters expected a loss of $1.23 per share on revenue of $26.1 million.
Operating expenses fell slightly to $47.9 million from $48.1 million.
Affymax has said it plans to ask for Food and Drug Administration approval for Hematide in 2010.
Shares of Affymax fell 2 cents to $20.65 in morning trading.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
