3 Stocks with Losing News (AFFY, DNDN, CFN)

New York, NY -- (SBWIRE) -- 05/10/2013 -- Affymax, Inc. (NASDAQ:AFFY) a biopharmaceutical company that engages in discovering, developing, and delivering therapies that improve the lives of patients with kidney diseases, and other serious and life-threatening illnesses is currently down -23.48%. In its Form 10-Q filed with the SEC, Affymax said it has experienced significant operating losses since inception. The recall of Omontys has severely harmed its business, financial condition, and prospects as a going concern and even with the transition of responsibilities effectuated by the Takeda amendment and the reductions in force, these planned cost reductions may not be sufficient to continue as a going concern. The company continues to take steps to reduce its outstanding obligations to third parties, and are dependent on those efforts to continue operations even in the near term, which may not be successful. The recall has also limited the company's access to funds. The company may be unable to continue our operations or to succeed in the existing and potential future litigation, particularly with the reductions in force and in view of its limited resources and funds. The company may explore various strategic alternatives, including a sale of the company or its assets or a corporate merger. The company is considering all possible alternatives, including further restructuring activities, wind-down of operations or bankruptcy proceedings. As of March 31, the company had an accumulated deficit of $570.4M.