Affymax proposes follow-on

Affymax Inc. (NASDAQ:AFFY) proposed to sell 2.5 million shares late Wednesday in a follow-on underwritten by Cowen; Lazard; RBC Capital Markets; and Robert W. Baird. If sold at Affymax's Wednesday close of $19.89, the company would raise $49.7 million. Affymax was off $0.31 on the day. ...