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AFFY > SEC Filings for AFFY > Form 8-K on 16-Aug-2013All Recent SEC Filings

Show all filings for AFFYMAX INC

Form 8-K for AFFYMAX INC


Other Events

Item 8.01 Other Events.

The Brenner Group, Inc. ("TBG") was retained by the Board of Directors of Affymax, Inc. (the "Company") to lead the Company through a necessary restructure in the face of the OMONTYS recall. The restructure was designed to reduce the Company's footprint, manage and settle its many creditor obligations, and preserve its cash in order for the remaining entity to continue to survive while the OMONTYS investigation continues under the direction of Takeda. The restructure has largely been completed, TBG is managing the affairs of the surviving operation, and will continue to oversee the operations of the company while it awaits the outcome of the investigation and the resultant decision on the future of the drug, if any. Prospects for the company are highly uncertain, are dependent on Takeda, and even though TBG does not intend to ever have its clients file for bankruptcy protection, there can be no assurance that the Company will continue as a going concern or otherwise be able to avoid bankruptcy or dissolution.

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