Affymax Inc.

Affymax Inc. reported earnings results for the fourth quarter and full year ended December 31, 2007. For the quarter, the company reported wider loss despite a big boost in revenue resulting a partnership with another drug company to develop a compound. For the quarter ended Dec. 31, the company reported a loss of $13.9 million, or 92 cents per share, compared with a loss of $7.8 million, or $2.49 per share in the prior-year quarter. Revenue more than doubled to $16.8 million from $7.4 million in the fourth quarter of 2006. The revenue boost was partly due to higher collaboration revenue from its partnership with Takeda Pharmaceutical Co. Ltd. for development of Affymax's lead compound, Hermatide.