Affymax, Inc. announced that it will retain a bank to evaluate strategic alternatives for the organization, including the sale of the company or its assets, or a corporate merger. Affymax is considering all possible alternatives, including further restructuring activities, wind-down of operations or even bankruptcy proceedings. Affymax announced that it will reduce its workforce by 75% as part of a plan to focus the company's resources on the ongoing investigation of reported hypersensitivity reactions in patients receiving OMONTYS Injection.
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