The company reported revenues of $82.85 million for the year ended December 31, 2008, compared to $44.34 million for the year ended December 31, 2007. The increase in revenue was the result of higher collaboration revenue from its partnership with Takeda Pharmaceutical Company, under their 2006 collaboration for development of Affymax’s lead compound, Hematide.
Arlene Morris, president and CEO of Affymax, said: “We are pleased with the swift and efficient progress we made in 2008 with the completion of enrollment ahead of schedule in all four Phase III Pearl and Emerald clinical trials for Hematide in chronic renal failure.
“In addition, Takeda initiated two Phase II clinical trials to evaluate the use of Hematide to treat anemia in additional segments of the chronic renal failure patient population. These are important trials as we continue to explore opportunities to evaluate Hematide in broad segments of the chronic renal failure market beyond our pivotal Phase III clinical trials and prepare for commercialization of Hematide.”