Please wait while we load the requested 10-K report or click the link below:
Vice President, Corporate Communications
AFFYMAX® REPORTS YEAR END 2010 FINANCIAL RESULTS
PALO ALTO, Calif., March 10, 2011 Affymax, Inc. (Nasdaq: AFFY) today reported financial results for the year ended December 31, 2010. The net loss for the year ended December 31, 2010 was $14.1 million compared to a net loss of $76.5 million for the year ended December 31, 2009.
Affymax recognized revenue for the year ended December 31, 2010 of $112.5 million compared to $114.9 million for the year ended December 31, 2009. The decrease in revenue was the result of lower collaboration revenue from its partnership with Takeda Pharmaceutical Company Limited (Takeda), under their 2006 collaboration for development of peginesatide (previously known as Hematide), due largely to the completion of the Phase 3 clinical trials in chronic renal failure in early 2010.
Research and development expenses for the year ended December 31, 2010 were $93.6 million compared to $157.1 million for the year ended December 31, 2009. The decrease was primarily due to a reduction in expenses associated with the Phase 3 clinical development completed in early 2010.
General and administrative expenses for the year ended December 31, 2010 were $33.3 million compared to $36.7 million for the year ended December 31, 2009 primarily due to lower legal fees in 2010.
The company had cash and investments of $118.1 million at December 31, 2010.
The following information was filed by Affymax Inc (AFFY) on Thursday, March 10, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one year to another to evaluate Affymax Inc's financial trajectory
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Affymax Inc.