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news.Affymax, a biopharmaceutical company engaged in developing novel drugs to improve the treatment of serious and often life-threatening conditions, has reported revenues of $16.79m for the third quarter ended 30 September 2010, compared to $29.16m for the same period in 2009.
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Accoding to Affymax, the decrease in revenue was the result of decreased collaboration revenue, driven primarily by lower reimbursement of clinical trial expenses, from its collaboration with Takeda Pharma.
Affymax has posted a net loss of $12.03m for the third quarter 2010, or $0.49 loss per diluted share, compared to net loss of $18.38m, or $0.97 loss per diluted share, for the comparable period in 2009.
Affymax’s loss from operations was $12.11m, compared to $18.73m for the comparable period in 2009.
The company has posted a revenue of $105.79m, for the nine months ended 30 September 2010, compared to $81.94m for the year ago period.
For the nine months ended 30 September 2010, Affymax has posted a net loss of $2.58m, or $0.11 loss per diluted share, compared to $62.21m, or $3.43 loss per diluted share, for the year ago period.
The company’s loss from operations for the nine months ended 30 September 2010 was $2.71m, compared to $63.29m for the year ago period.