Affymax Inc. is finally addressing the reality of its Omontys (peginesatide) recall by slashing its staff and looking into its strategic alternatives. The company has been forced to admit that its only commercialized product may not be returned to the market and that the future of the business is bleak.
The Palo Alto, Calif.-based biotech reported March 18 that it is letting go of 75% of its staff – about...