UPDATE: Piper Jaffray Says Affymax May Run Out of Cash as Early as the Second-Quarter

In a note released late Tuesday morning, Piper Jaffray Analyst Ian Somaiya stated that Affymax (NASDAQ: AFFY ) has no timeline for the re-introduction of its recently pulled drug Omontys, and had no estimate on when the investigation into the drug would end. With Omontys off the market, Amgen's (NASDAQ: