PALO ALTO, Calif.--(BUSINESS WIRE)--Affymax, Inc. (Nasdaq: AFFY) today reported financial results for the first quarter ended March 31, 2011. The net loss for the first quarter of 2011 was $9.6 million compared to a net loss of $7.9 million for the first quarter of 2010. Affymax recognized revenue for the quarter ended March 31, 2011 of $16.7 million compared to $34.7 million for the quarter ended March 31, 2010. The decrease in revenue was the result of decreased collaboration revenue from its partnership with Takeda Pharmaceutical Company Limited, under their 2006 collaboration for development of Affymax’s compound, peginesatide (formerly known as Hematide™).
