Omontys recall forces Affymax to ax 75% of workforce, weigh bankruptcy

In the wake of last month's Omontys recall, Affymax ($AFFY) is jettisoning three-fourths of its staff and considering bankruptcy. Without the fuel of Omontys sales, the small drugmaker is basically running on fumes. And it has to spend money to investigate the hypersensitivity reactions--and patient deaths--that triggered the recall. So, out comes the cost-cutting ax. Report