An investigation on behalf of current long term investors in Affymax, Inc. (NASDAQ:AFFY) concerning shareholder claims based on breaches of fiduciary duty by certain members of the board of directors and/or certain current or former officers.

Affymax, Inc. is a biopharmaceutical company developing drugs to improve the treatment of serious and often life-threatening conditions. Affymax, Inc. reported in 2007 Total Revenue of $44.34million, in 2008 $82.85million, and in 2009 $114.90million.

According to the investigation by a law firm the investigation on behalf of current long term investors of Affymax, Inc. (NASDAQ:AFFY) focuses on the following events. On June 21, 2010, Affymax, Inc. (NASDAQ:AFFY) and Takeda Global Research & Development Center, Inc., a wholly owned subsidiary of Takeda Pharmaceutical Company Limited, released data from the Phase III Hematide program that introduced concerns about the drug's safety profile. The trials met their main goal but showed a higher rate of cardiovascular events, including death and stroke, in Hematide patients who were suffering from chronic renal failure but were not on dialysis. The trials found that safety risks for Hematide were similar to those of current drugs for kidney dialysis patients. On June 21, 2010, the price of Affymax stock dropped as much as 69 percent to as low as $7.12. Shares of Affymax, Inc. continued to decline from its 52weekHigh of $26.20 per share to as low as $6.63 per share, and traded recently at $6.70 per share.