Affymax to dissolve

Affymax Inc. (OTCQB:AFFY) said its board approved a plan to liquidate and dissolve the company. The company said the estimated shareholder payout is about $4 million, or "a few cents per share" based on 37.5 million shares outstanding as of April 30. The plan is subject to shareholder approval. Affymax said the decision came after Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) decided to end a 2006 deal with Affymax to co-develop and co-commercialize Omontys peginesatide earlier this month. The deal termination came after Takeda said it was unable to identify the cause of postmarketing hypersensitivity reactions to Omontys, which led Affymax and Takeda to recall all lots of the drug last year (see BioCentury Extra, June 13). ...