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Mar232012

Rodman & Renshaw initiate coverage of Affymax - $AFFY: Outperform rating, $20 target price

DDE Editor

Affymax, Inc. (AFFY) is a biopharmaceutical company committed to developing novel drugs to improve the treatment of serious and often life-threatening conditions. The company’s product candidate, peginesatide (formerly known as Hematide™), has been investigated in Phase 3 trials for the potential treatment of anemia associated with chronic kidney disease (CKD). A New Drug Application (NDA) for peginesatide for the treatment of anemia associated with CKD in adult patients on dialysis is currently being reviewed by the U.S. Food and Drug Administration (FDA).

Rodman & Renshaw has initiated coverage of Affymax, giving it an "Outperform" market rating and a price target of $20.

The report states:

"AFFY is on the brink of FDA approval and launch of its non-EPO erythropoiesis stimulating agent (ESA), peginesatide (previously known as Hematide) for use in the treatment of severe anemia in patients with end-stage renal disease (ESRD) currently on dialysis. In our view, approval is likely by the product’s PDUFA date of March 27, 2012. Upon approval, AFFY will begin to chip away at Amgen’s (AMGN, Not Rated) 20-year monopoly over the dialysis space."

Daily Dose Comment: The market is so ready for an EPO alternative. This is worth watching.

Read the full report below.

Rodman renshaw report on affy

View more documents from DailyDoseEquities.

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at Source on November 5, 2013

Excellent page, Keep up the fantastic work. Appreciate it.

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