Toronto, Ontario--(Newsfile Corp. - May 10, 2013) - Leading smallcap investor portal Smallcappower is pleased to highlight Affymax Inc (NASDAQ: AFFY) as their Daily Momentum Gainer to watch. You can see the chart and view the analyst's summary here: http://www.smallcappower.com/posts/article-top-momentum-gainer-10-5-2013.
During yesterday's trading session, AFFY was among the top gainers in the U.S. healthcare space having gained 26% and closed the day at $1.81 recording significant volumes of over 44 million shares. During the past 5 trading sessions, AFFY surged more than 123% with 5-day average volume of over 21 million shares. Yesterday (May 9, 2013), AFFY reported Q1'2013 loss per share of $0.71 compared to $0.87 profit per share last year, while revenues decreased to $839 thousand compared to $63.2 million last year. Recall of Affymax's anemia drug OMONTYS in March 2013 has severely affected its business, financial condition, and prospects as a going concern. However, AFFY has been making serious restructuring efforts including reduction of 75% of its workforce in March 2013 and a Consulting Agreement with Brenner Group in April 2013 for further restructuring.
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