Affymax, Inc. (OTCMKTS:AFFY) With a Promising Start of The Week

Affymax, Inc. (OTCMKTS:AFFY) had a long period in which they were virtually going nowhere as they were hovering around the $1 mark. More recently, however, things seems to be heating up and we are witnessing a renewed interest in their stock that is expressed in a rising price and decent volumes of traded stock.

We might say that the past week of trading went well for AFFY even though their stock started off really dull with the gain and later loss of 0.88% of their stock. Indeed the first 2 days were discouraging, however, that can’t be said for the rest of the week, which surely brought some comfort to the people who have made long-term investments in AFFY.

Even though there are still no definitive news on the joint investigation of OMONTYS’s side effects that is being carried out by Takeda and the FDA, the stock of AFFY is gathering momentum in an upward direction.

Last week they ended with a 23% increase in price, which is not that much, but is a good sign considering the long time that they remained seemingly idle.The volumes of traded stock in the last 3 sessions can also be considered a good sign as AFFY are trading above their average of 782 thousand shares with more than 3.5 million in Friday.

This week also started well for the ticker, both price-wise and volume-wise. Yesterday they gained 4.83% in price and are currently being traded at $1.52. The total amount of shares that switched hands came to 2.5 million and helped generate a trade value of $3.7 million.

As we stated above there is still no definitive information about the ongoing investigation of their drug that had to be voluntarily recalled by Takeda after it was distributed to dialysis centers, due to side effects, which might or might not be cause for the 3 deaths of patients treated with the drug. As we wrote in one of our earlier articles it is suspected that the 3 fatalities occurred in facilities that were managed by one particular company and there are suspicions that the drug wasn’t administered properly, leading to the tragic outcome.

The latest headlines that we can see in their Yahoo! Finance profile are not actually about them, but AFFY are mentioned in the article. The article that is published in Forbes is about the biggest competitor of the company in the treatment of anemia associated with chronic kidney disease and the sole player in that field on the American market (a similar agent called Mircera is sold by Roche Holding Ltd (VTX:ROG), but the U.S. patent law forbids its sale), Amgen, Inc. (NASDAQ:AMGN) and only briefly mentions AFFY as a competitor in the medical market. For now AFFY remain the only company with a drug that can stand up to AMGN‘s product, so they are an interesting stock.

However, until any further updates on the investigation are clear we can all just guess on how things can end up, so be sure to do your due diligence and weigh out the risks for yourself.

One of the most heavily traded stocks yesterday and recently was that of Xumanii, Inc. f/k/a Medora Corp. (OTCMKTS:XUII), who are topping the lists in the category of trade value. They started the week good with a 28% gain and closed Monday at $0.369 with a total trade value of $7.8 million that was generated by the mind-blowing 22 million shares that switched hands.