PALO ALTO, Calif. (AFX) - Biopharmaceutical company Affymax Inc. said Friday it filed for an initial public offering of common stock with the Securities and Exchange Commission.
The number of shares being offered and the price has not yet been determined.
In an S-1 filing with the SEC, Affymax said it had revenue of $74,000 in 2005, with net loss of $32.6 million. In the quarter ended March 31, Affymax revenue was $8,000 and net loss amounted to $10.1 million.
The company also said in the filing it is 'dependent on the success of Hematide,' a drug for the treatment of anemia related to chronic kidney disease and cancer. Hematide is currently in mid-stage clinical trials.
Morgan Stanley & Co. is the underwriter for the IPO. Cowen and Company LLC and Thomas Weisel Partners LLC are co-managers.
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