Affymax slashing positions

Affymax Inc. (NASDAQ:AFFY) said late Monday that it will reduce headcount by about 230, or about 75%, and will retain a bank to evaluate strategic alternatives, including a sale of the company or its assets, further restructuring, winding down operations or bankruptcy proceedings. The headcount reductions include its commercial and medical affairs field organizations and Chief Commercial Officer Jeffrey Knapp. The move comes after Affymax and partner Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) recalled Affymax's once-monthly anemia drug Omontys peginesatide last month due to postmarketing reports of serious hypersensitivity reactions that can be life-threatening or fatal (see BioCentury, March 4). ...