Affymax Earnings:Here’s Why the Stock is Falling Now

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Affymax, Inc. (NASDAQ:AFFY) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 6.62 percent.

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Affymax, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-1.85 in the quarter versus EPS of $-0.88 in the year-earlier quarter.

Revenue: Decreased 76.6 percent to $14.79 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Affymax, Inc. reported adjusted EPS loss of $1.85 per share. By that measure, the company missed the mean analyst estimate of $-0.61. It missed the average revenue estimate of $14.81 million.

Quoting Management:

Key Stats (on next page)…

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