Boston, MA 02/15/2013 (wallstreetpr) –Affymax Inc. (NASDAQ:AFFY) the biopharmaceutical company closed at $15.74 down by 6.92%. The recent news underlying the company
AFFY has received its first approval from Food and Drug Administration for Omontys a drug for preventing anemia for dialysis patients. With this approval the company’s drug has taken a direct competition with Epogen a similar kind of drug from Amgen Inc. (NASDAQ:AMGN). Until now, Amgen has been a monopoly in this form of medicine. Affymax (NASDAQ:AFFY) tries to capture its market share in this area.
There was a shuffle in the senior management team with Tim Varacek taking as Vice President Accounts and Finance and Robert F. Venteicher retiring as Senior Vice President.
Volume of shares currently trading is 8.25 Million while the average is only about 5.5 Million.
Endeavour International Corporation (NYSE:END):An independent oil company engaged in exploration, production and development of crude oil in United Kingdom and United States Onshore. Shares are trading near the 52 week low price at $ 3.44 a share.
The company suspended their drilling operations in North Sea following a severe storm damaged their plant.
Endeavour has posted loss in previous seven straight quarters.
However the company has some positive news to its credit, as it has started drilling of two wells in the third quarter last year and would start the other by next year.
The company is also exploring the option of possible sale of its assets with Tudor Pickering Holt & Co and Lambert Energy Advisory Ltd as financial advisors.
In October last year, the company has won seven licenses for exploring ten blocks near North Sea.
FreeSeas Inc. (NASDAQ:FREE)’s stock is trading in green at $2.51 a share, up 3.72 percent.
Volume of shares traded is increased from an average of 140,595 to 408,433 today.
The main reason for the volatility in trade of this stock is the company has announced its reverse stock split option to be effective from today 14th February 2013. By this arrangement a share holder will get one share of every 10 shares held at a face value of $0.01 a share.